Analysts Set O-I Glass, Inc. (NYSE:OI) Price Target at $10.19

O-I Glass, Inc. (NYSE:OI) has been given an average rating of “Hold” by the nine ratings firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $10.1875.

Several research analysts have commented on OI shares. Bank of America restated an “underperform” rating and issued a $11.00 target price on shares of O-I Glass in a research note on Tuesday, July 14th. UBS Group lowered their price target on shares of O-I Glass from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Royal Bank Of Canada lowered shares of O-I Glass from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $10.00 to $8.00 in a research report on Thursday, August 13th. Zacks Research raised shares of O-I Glass from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Robert W. Baird set a $13.00 target price on shares of O-I Glass in a report on Thursday, July 30th.

O-I Glass Trading Down 3.0%

Shares of OI stock opened at $6.38 on Tuesday. The company’s fifty day simple moving average is $8.54 and its two-hundred day simple moving average is $10.18. The company has a debt-to-equity ratio of 8.89, a current ratio of 1.26 and a quick ratio of 0.77. O-I Glass has a 1 year low of $6.29 and a 1 year high of $16.91. The stock has a market capitalization of $980.35 million, a price-to-earnings ratio of -0.85, a PEG ratio of 2.14 and a beta of 0.66.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.15). The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.68 billion. O-I Glass had a positive return on equity of 10.40% and a negative net margin of 18.13%.O-I Glass’s revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 earnings per share. As a group, analysts anticipate that O-I Glass will post 0.42 earnings per share for the current year.

Institutional Investors Weigh In On O-I Glass

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC increased its stake in O-I Glass by 87.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 830 shares during the last quarter. Optiver Holding B.V. raised its holdings in shares of O-I Glass by 491.5% in the 1st quarter. Optiver Holding B.V. now owns 2,496 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 2,074 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of O-I Glass during the 2nd quarter valued at about $29,000. Quarry LP bought a new stake in shares of O-I Glass during the 4th quarter valued at about $32,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of O-I Glass by 36,533.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 2,192 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

About O-I Glass

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.