O-I Glass (NYSE:OI) Upgraded to “Buy” at Wall Street Zen

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

A number of other research firms have also weighed in on OI. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $16.00 target price on shares of O-I Glass in a report on Monday, March 17th. Truist Financial reaffirmed a “buy” rating and set a $16.00 target price (up previously from $13.00) on shares of O-I Glass in a report on Thursday, May 1st. BNP Paribas Exane started coverage on O-I Glass in a report on Wednesday. They set an “outperform” rating and a $18.00 target price for the company. Barclays lifted their target price on O-I Glass from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Finally, Citigroup lifted their target price on O-I Glass from $11.00 to $14.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.30.

O-I Glass Trading Down 2.7%

Shares of OI opened at $15.09 on Friday. The business has a 50-day moving average of $13.30 and a 200 day moving average of $11.87. O-I Glass has a fifty-two week low of $9.23 and a fifty-two week high of $15.58. The firm has a market cap of $2.33 billion, a P/E ratio of -11.97, a price-to-earnings-growth ratio of 0.31 and a beta of 0.96. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.73 and a current ratio of 1.24.

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

Institutional Trading of O-I Glass

A number of large investors have recently modified their holdings of the business. Highland Peak Capital LLC lifted its position in 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 during the last quarter. Cooper Creek Partners Management LLC lifted its position in 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 during the last quarter. Millennium Management LLC lifted its position in O-I Glass by 251.7% in the 4th quarter. Millennium Management LLC now owns 1,458,102 shares of the industrial products company’s stock worth $15,806,000 after buying an additional 1,043,570 shares during the last quarter. Mesirow Institutional Investment Management Inc. bought a new stake in O-I Glass in the 4th quarter worth approximately $10,885,000. Finally, MetLife Investment Management LLC lifted its position in O-I Glass by 1,043.3% in the 1st quarter. MetLife Investment Management LLC now owns 1,074,764 shares of the industrial products company’s stock worth $12,328,000 after buying an additional 980,758 shares during the last quarter. Institutional investors own 97.24% of the company’s stock.

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.