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

BNP Paribas Exane began coverage on shares of O-I Glass (NYSE:OI - Free Report) in a research report released on Wednesday, MarketBeat reports. The brokerage issued an outperform rating and a $18.00 target price on the industrial products company's stock.

Other equities analysts have also recently issued reports about the company. Citigroup boosted their price target on O-I Glass from $11.00 to $14.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Truist Financial reissued a "buy" rating and issued a $16.00 price target (up from $13.00) on shares of O-I Glass in a report on Thursday, May 1st. Barclays boosted their price target on O-I Glass from $13.00 to $14.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Wall Street Zen cut O-I Glass from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $16.00 price target on shares of O-I Glass in a report on Monday, March 17th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, O-I Glass currently has an average rating of "Moderate Buy" and an average price target of $16.30.

O-I Glass Price Performance

NYSE OI traded down $0.43 during mid-day trading on Wednesday, hitting $15.09. The stock had a trading volume of 3,853,081 shares, compared to its average volume of 1,555,475. O-I Glass has a 52-week low of $9.23 and a 52-week high of $15.58. The company has a market cap of $2.33 billion, a price-to-earnings ratio of -11.97, a P/E/G ratio of 0.32 and a beta of 0.96. The company has a 50 day simple moving average of $13.30 and a 200 day simple moving average of $11.87. The company has a quick ratio of 0.73, a current ratio of 1.24 and a debt-to-equity ratio of 3.83.

O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share for the quarter, beating 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 firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the business posted $0.45 EPS. O-I Glass's quarterly revenue was up .4% on a year-over-year basis. Equities analysts forecast that O-I Glass will post 1.33 EPS for the current fiscal year.

Institutional Investors Weigh In On O-I Glass

A number of hedge funds and other institutional investors have recently made changes to their positions in OI. GAMMA Investing LLC grew its position in shares of O-I Glass by 79.3% in the first quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 1,142 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in O-I Glass during the first quarter valued at about $30,000. Sterling Capital Management LLC grew its position in O-I Glass by 807.2% during the fourth quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 4,343 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in O-I Glass during the first quarter valued at about $85,000. Finally, New Age Alpha Advisors LLC purchased a new stake in O-I Glass during the fourth quarter valued at about $86,000. Hedge funds and other 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.