O-I Glass, Inc. (NYSE:OI) Given Consensus Rating of "Hold" by Brokerages

Key Points

• O-I Glass has a consensus “Hold” rating from nine analysts, with two sells, three holds and four buys. The average 12-month price target is $10.31, versus a recent share price of $6.51.
• Institutional investors and hedge funds own 97.24% of the company, with several major holders—including AQR Capital Management and UBS Asset Management—recently increasing their positions.
• O-I Glass reported quarterly EPS of $0.09, missing the $0.24 consensus estimate, while revenue fell 2.2% year over year to $1.67 billion. Analysts forecast full-year EPS of $0.39.

O-I Glass, Inc. (NYSE:OI - Get Free Report) has been given an average recommendation of "Hold" by the nine analysts that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $10.3125.

OI has been the subject of several recent research reports. Citigroup raised O-I Glass from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $8.00 to $9.00 in a report on Friday, August 21st. Royal Bank Of Canada lowered shares of O-I Glass from an "outperform" rating to a "sector perform" rating and reduced their target price for the company from $10.00 to $8.00 in a research note on Thursday, August 13th. Bank of America reiterated an "underperform" rating and set a $11.00 price target on shares of O-I Glass in a research report on Tuesday, July 14th. BNP Paribas Exane downgraded shares of O-I Glass from an "outperform" rating to a "neutral" rating and set a $8.50 price target for the company. in a research note on Thursday, July 30th. Finally, Weiss Ratings upgraded shares of O-I Glass from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, August 14th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OI. Royal Bank of Canada increased its holdings in O-I Glass by 33.9% in the first quarter. Royal Bank of Canada now owns 112,800 shares of the industrial products company's stock valued at $1,294,000 after purchasing an additional 28,548 shares during the last quarter. AQR Capital Management LLC grew its position in shares of O-I Glass by 154.0% during the 1st quarter. AQR Capital Management LLC now owns 177,117 shares of the industrial products company's stock worth $1,993,000 after buying an additional 107,388 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of O-I Glass by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,151 shares of the industrial products company's stock valued at $1,057,000 after acquiring an additional 4,055 shares during the last quarter. United Services Automobile Association bought a new stake in shares of O-I Glass in the 1st quarter valued at about $119,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of O-I Glass by 43.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 526,279 shares of the industrial products company's stock valued at $6,036,000 after acquiring an additional 160,649 shares during the period. Institutional investors and hedge funds own 97.24% of the company's stock.

O-I Glass Price Performance

Shares of OI stock opened at $6.51 on Friday. O-I Glass has a 1 year low of $6.29 and a 1 year high of $16.91. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 8.89. The firm's 50 day moving average is $7.81 and its 200-day moving average is $9.26. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of -0.87, a PEG ratio of 2.36 and a beta of 0.66.

O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.15). The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.68 billion. O-I Glass had a positive return on equity of 10.40% and a negative net margin of 18.13%.The business's revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 EPS. Sell-side analysts forecast that O-I Glass will post 0.39 EPS for the current fiscal year.

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.

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