O-I Glass (NYSE:OI) Stock Rating Upgraded by Wall Street Zen

O-I Glass (NYSE:OI) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other analysts also recently weighed in on the company. Citigroup increased their target price on O-I Glass from $11.00 to $14.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Truist Financial restated a “buy” rating and set a $16.00 target price (up previously from $13.00) on shares of O-I Glass in a research note on Thursday, May 1st. Royal Bank of Canada restated an “outperform” rating and set a $16.00 target price on shares of O-I Glass in a research note on Monday, March 17th. Finally, Barclays increased their target price on O-I Glass from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, O-I Glass has an average rating of “Moderate Buy” and an average price target of $15.88.

O-I Glass Stock Performance

OI opened at $13.06 on Friday. The company has a market cap of $2.02 billion, a PE ratio of -18.39, a price-to-earnings-growth ratio of 0.24 and a beta of 0.93. The stock has a 50-day moving average of $11.99 and a 200-day moving average of $11.67. O-I Glass has a 52-week low of $9.23 and a 52-week high of $14.34. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.22. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.55 billion. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. The firm’s revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.45 EPS. As a group, equities research analysts forecast that O-I Glass will post 1.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On O-I Glass

Several large investors have recently added to or reduced their stakes in the company. Cooper Creek Partners Management LLC raised its holdings in shares of O-I Glass by 18.2% in the 4th quarter. Cooper Creek Partners Management LLC now owns 11,082,262 shares of the industrial products company’s stock worth $120,132,000 after buying an additional 1,705,216 shares in the last quarter. FMR LLC raised its holdings in shares of O-I Glass by 6.9% in the 4th quarter. FMR LLC now owns 10,054,398 shares of the industrial products company’s stock worth $108,990,000 after buying an additional 647,237 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of O-I Glass by 9.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,449,472 shares of the industrial products company’s stock worth $80,749,000 after buying an additional 617,460 shares in the last quarter. Highland Peak Capital LLC raised its holdings in shares of O-I Glass by 87.5% in the 4th quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company’s stock worth $42,029,000 after buying an additional 1,809,237 shares in the last quarter. Finally, Segall Bryant & Hamill LLC raised its holdings in shares of O-I Glass by 31.5% in the 4th quarter. Segall Bryant & Hamill LLC now owns 3,242,750 shares of the industrial products company’s stock worth $35,151,000 after buying an additional 777,036 shares in the last quarter. Institutional investors and hedge funds own 97.24% of the company’s stock.

O-I Glass Company Profile

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.