Barclays Issues Positive Forecast for O-I Glass (NYSE:OI) Stock Price

O-I Glass (NYSE:OI - Free Report) had its price target boosted by Barclays from $13.00 to $14.00 in a research report report published on Friday,Benzinga reports. They currently have an equal weight rating on the industrial products company's stock.

Several other analysts have also commented on OI. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $16.00 price objective on shares of O-I Glass in a research report on Monday, March 17th. Citigroup cut their price target on O-I Glass from $12.00 to $11.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Truist Financial reissued a "buy" rating and issued a $16.00 price target (up previously from $13.00) on shares of O-I Glass in a research report on Thursday, May 1st. Wells Fargo & Company lowered their target price on shares of O-I Glass from $18.00 to $16.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. Finally, Bank of America lifted their price target on O-I Glass from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $15.50.

O-I Glass Stock Down 2.3 %

OI traded down $0.30 during midday trading on Friday, reaching $12.85. 426,772 shares of the company were exchanged, compared to its average volume of 1,567,862. The company has a market cap of $1.99 billion, a price-to-earnings ratio of -18.07, a price-to-earnings-growth ratio of 0.24 and a beta of 0.93. 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 has a one year low of $9.23 and a one year high of $14.15. The company's fifty day moving average price is $11.49 and its 200 day moving average price is $11.54.

O-I Glass (NYSE:OI - Get Free Report) last posted its 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. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the prior year, the business posted $0.45 EPS. The business's revenue was up .4% compared to the same quarter last year. As a group, analysts expect that O-I Glass will post 1.33 EPS for the current year.

Hedge Funds Weigh In On O-I Glass

Several institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC lifted its stake in shares of O-I Glass by 349.3% in the 3rd quarter. Barclays PLC now owns 261,161 shares of the industrial products company's stock valued at $3,427,000 after acquiring an additional 203,037 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of O-I Glass by 18.0% in the third quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company's stock worth $8,130,000 after buying an additional 94,671 shares during the period. Diversified Trust Co raised its holdings in O-I Glass by 10.0% during the 4th quarter. Diversified Trust Co now owns 54,551 shares of the industrial products company's stock valued at $591,000 after buying an additional 4,955 shares during the last quarter. Moody National Bank Trust Division raised its holdings in O-I Glass by 35.6% during the 4th quarter. Moody National Bank Trust Division now owns 103,343 shares of the industrial products company's stock valued at $1,120,000 after buying an additional 27,159 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in O-I Glass by 111.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,401,400 shares of the industrial products company's stock worth $15,191,000 after acquiring an additional 737,123 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.