O-I Glass, Inc. (NYSE:OI) Receives $19.56 Average Target Price from Analysts

O-I Glass, Inc. (NYSE:OIGet Free Report) has been given a consensus recommendation of “Moderate Buy” by the nine analysts that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $18.89.

OI has been the subject of a number of research analyst reports. Royal Bank of Canada dropped their price objective on shares of O-I Glass from $25.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. StockNews.com downgraded shares of O-I Glass from a “hold” rating to a “sell” rating in a report on Tuesday. Robert W. Baird dropped their price objective on shares of O-I Glass from $28.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Truist Financial reaffirmed a “buy” rating and set a $17.00 price objective (down from $20.00) on shares of O-I Glass in a report on Thursday, May 2nd. Finally, Barclays dropped their price objective on shares of O-I Glass from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Monday, May 6th.

Read Our Latest Stock Analysis on O-I Glass

O-I Glass Stock Up 2.9 %

OI opened at $10.50 on Thursday. The company has a fifty day moving average price of $12.09 and a 200-day moving average price of $14.49. The firm has a market capitalization of $1.64 billion, a P/E ratio of -6.60, a price-to-earnings-growth ratio of 1.02 and a beta of 1.24. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.02 and a quick ratio of 0.56. O-I Glass has a one year low of $10.08 and a one year high of $23.57.

O-I Glass (NYSE:OIGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.69 billion. O-I Glass had a negative net margin of 3.45% and a positive return on equity of 18.25%. The business’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.29 EPS. Equities research analysts expect that O-I Glass will post 1.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On O-I Glass

Hedge funds and other institutional investors have recently modified their holdings of the company. Qube Research & Technologies Ltd grew its holdings in O-I Glass by 114.7% in the third quarter. Qube Research & Technologies Ltd now owns 337,625 shares of the industrial products company’s stock worth $5,648,000 after purchasing an additional 180,374 shares during the period. Schonfeld Strategic Advisors LLC grew its holdings in shares of O-I Glass by 378.2% during the third quarter. Schonfeld Strategic Advisors LLC now owns 63,116 shares of the industrial products company’s stock valued at $1,056,000 after buying an additional 49,916 shares during the last quarter. Quadrature Capital Ltd bought a new position in O-I Glass during the third quarter valued at approximately $494,000. Seven Eight Capital LP lifted its position in O-I Glass by 769.9% during the third quarter. Seven Eight Capital LP now owns 83,312 shares of the industrial products company’s stock valued at $1,394,000 after purchasing an additional 73,735 shares during the period. Finally, Diversified Trust Co lifted its position in O-I Glass by 247.0% during the third quarter. Diversified Trust Co now owns 37,906 shares of the industrial products company’s stock valued at $634,000 after purchasing an additional 26,983 shares during the period. 97.24% of the stock is owned by institutional investors.

About O-I Glass

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O-I Glass, Inc, through its subsidiaries, engages in the manufacture and sale of glass containers to food and beverage manufacturers primarily in the Americas, Europe, and internationally. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.

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Analyst Recommendations for O-I Glass (NYSE:OI)

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