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

Shares of O-I Glass, Inc. (NYSE:OI) have been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $18.2222.

Several equities research analysts recently issued reports on the company. Citigroup dropped their price target on O-I Glass from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, February 12th. Wells Fargo & Company raised shares of O-I Glass from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $15.00 to $18.00 in a report on Tuesday, January 6th. Wall Street Zen lowered shares of O-I Glass from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 15th. Truist Financial boosted their price objective on shares of O-I Glass from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Finally, UBS Group reissued a “buy” rating and issued a $21.00 target price on shares of O-I Glass in a report on Thursday, February 12th.

O-I Glass Stock Performance

Shares of O-I Glass stock opened at $14.74 on Tuesday. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.77 and a current ratio of 1.25. O-I Glass has a 1 year low of $9.23 and a 1 year high of $16.91. The firm’s 50-day simple moving average is $15.32 and its 200-day simple moving average is $13.78. The firm has a market cap of $2.25 billion, a PE ratio of -17.54, a price-to-earnings-growth ratio of 0.70 and a beta of 0.78.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. O-I Glass had a positive return on equity of 18.07% and a negative net margin of 2.01%.The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the company earned ($0.05) earnings per share. O-I Glass’s quarterly revenue was down 1.9% on a year-over-year basis. Equities analysts forecast that O-I Glass will post 1.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. increased its stake in shares of O-I Glass by 194.6% in the second quarter. Alliancebernstein L.P. now owns 7,939,841 shares of the industrial products company’s stock valued at $117,033,000 after purchasing an additional 5,244,440 shares during the period. Wellington Management Group LLP acquired a new position in shares of O-I Glass during the fourth quarter valued at $40,090,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of O-I Glass by 288.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,215,632 shares of the industrial products company’s stock valued at $47,463,000 after purchasing an additional 2,388,299 shares during the period. Brandywine Global Investment Management LLC bought a new stake in shares of O-I Glass during the fourth quarter valued at about $25,064,000. Finally, Bank of America Corp DE lifted its holdings in O-I Glass by 222.6% in the second quarter. Bank of America Corp DE now owns 2,206,251 shares of the industrial products company’s stock worth $32,520,000 after purchasing an additional 1,522,384 shares during the period. 97.24% of the stock is currently owned by institutional investors.

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.