BNP Paribas Exane Begins Coverage on O-I Glass (NYSE:OI)

Investment analysts at BNP Paribas Exane started coverage on shares of O-I Glass (NYSE:OI - Get Free Report) in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage set an "outperform" rating and a $18.00 price target on the industrial products company's stock. BNP Paribas Exane's target price suggests a potential upside of 22.41% from the stock's current price.

Other equities research analysts have also recently issued research reports about the stock. Citigroup lifted their price target on shares of O-I Glass from $11.00 to $14.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Wall Street Zen cut shares of O-I Glass from a "buy" rating to a "hold" rating in a research report on Saturday. Barclays raised their price target on O-I Glass from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $16.00 price objective on shares of O-I Glass in a report on Monday, March 17th. Finally, Truist Financial reissued a "buy" rating and issued a $16.00 target price (up previously from $13.00) on shares of O-I Glass in a research note on Thursday, May 1st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.11.

O-I Glass Stock Up 2.2%

Shares of NYSE OI opened at $14.71 on Wednesday. O-I Glass has a 12-month low of $9.23 and a 12-month high of $14.90. The firm's 50-day simple moving average is $13.03 and its 200 day simple moving average is $11.80. The company has a quick ratio of 0.73, a current ratio of 1.24 and a debt-to-equity ratio of 3.83. The company has a market cap of $2.27 billion, a price-to-earnings ratio of -11.67, a price-to-earnings-growth ratio of 0.29 and a beta of 0.96.

O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $1.57 billion for the quarter, compared to analysts' expectations of $1.55 billion. O-I Glass had a negative net margin of 2.98% and a positive return on equity of 8.48%. O-I Glass's revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, research analysts expect that O-I Glass will post 1.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On O-I Glass

Several institutional investors have recently modified their holdings of OI. GAMMA Investing LLC raised its holdings in O-I Glass by 79.3% during the 1st quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock worth $30,000 after buying an additional 1,142 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in O-I Glass in the 1st quarter valued at $30,000. Sterling Capital Management LLC boosted its stake in O-I Glass by 807.2% in the 4th quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company's stock worth $53,000 after purchasing an additional 4,343 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in O-I Glass during the 1st quarter worth about $85,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of O-I Glass in the 4th quarter valued at about $86,000. Institutional investors own 97.24% of the company's stock.

O-I Glass Company Profile

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.

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