O-I Glass, Inc. (NYSE:OI) Receives Average Rating of “Moderate Buy” from Brokerages

O-I Glass, Inc. (NYSE:OI) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $15.88.

OI has been the topic of several research analyst reports. 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. Wall Street Zen upgraded shares of O-I Glass from a “hold” rating to a “buy” rating in a research note on Saturday, May 24th. Citigroup increased their price objective on shares of O-I Glass from $11.00 to $14.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Barclays increased their price objective on shares of O-I Glass from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. Finally, 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.

Institutional Trading of O-I Glass

Several institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in O-I Glass by 79.3% in the first quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 1,142 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in O-I Glass during the 1st quarter valued at about $30,000. Sterling Capital Management LLC raised its stake in O-I Glass by 807.2% in the fourth quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company’s stock valued at $53,000 after buying an additional 4,343 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in O-I Glass in the first quarter valued at about $85,000. Finally, New Age Alpha Advisors LLC acquired a new stake in O-I Glass in the fourth quarter worth about $86,000. 97.24% of the stock is currently owned by institutional investors.

O-I Glass Stock Down 0.6%

NYSE:OI opened at $13.52 on Thursday. The firm’s 50-day moving average price is $12.75 and its 200-day moving average price is $11.75. The company has a market capitalization of $2.09 billion, a PE ratio of -10.73, a P/E/G ratio of 0.28 and a beta of 0.96. The company has a debt-to-equity ratio of 3.83, a current ratio of 1.24 and a quick ratio of 0.73. O-I Glass has a 1-year low of $9.23 and a 1-year high of $14.34.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.18 by $0.22. O-I Glass had a negative net margin of 2.98% and a positive return on equity of 8.48%. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the firm posted $0.45 EPS. O-I Glass’s revenue for the quarter was up .4% on a year-over-year basis. On average, equities analysts predict that O-I Glass will post 1.33 EPS for the current fiscal year.

About O-I Glass

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.