O-I Glass, Inc. (NYSE:OI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of O-I Glass, Inc. (NYSE:OI) have received an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $16.6667.

Several equities research analysts have recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of O-I Glass in a research note on Wednesday, October 8th. Truist Financial reduced their price target on O-I Glass from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Wall Street Zen cut O-I Glass from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 28th. Zacks Research downgraded O-I Glass from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. Finally, Bank of America upgraded shares of O-I Glass from a “neutral” rating to a “buy” rating and raised their target price for the stock from $14.00 to $17.00 in a research note on Monday, November 17th.

O-I Glass Trading Up 2.9%

O-I Glass stock opened at $15.18 on Monday. O-I Glass has a 52-week low of $9.23 and a 52-week high of $16.04. The company has a market cap of $2.33 billion, a P/E ratio of -16.15, a P/E/G ratio of 0.20 and a beta of 0.77. The company has a quick ratio of 0.84, a current ratio of 1.33 and a debt-to-equity ratio of 3.36. The business has a 50-day simple moving average of $13.69 and a two-hundred day simple moving average of $13.54.

O-I Glass (NYSE:OI) last posted its quarterly earnings data on Wednesday, March 1st. The industrial products company reported $0.36 earnings per share (EPS) for the quarter. The company had revenue of $1.59 billion for the quarter. O-I Glass had a negative net margin of 2.26% and a positive return on equity of 16.02%. Analysts predict that O-I Glass will post 1.33 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in shares of O-I Glass during the second quarter worth approximately $29,000. Smartleaf Asset Management LLC grew its holdings in O-I Glass by 64.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 918 shares in the last quarter. State of Wyoming purchased a new stake in shares of O-I Glass in the 2nd quarter valued at approximately $35,000. GAMMA Investing LLC raised its holdings in shares of O-I Glass by 31.7% in the 2nd quarter. GAMMA Investing LLC now owns 3,403 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 820 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in shares of O-I Glass in the 2nd quarter valued at $51,000. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Company Profile

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.