O-I Glass, Inc. (NYSE:OI) Stock Has Consensus Target Price of $9.69 According to Brokerages

Key Points

• O-I Glass has a consensus “Hold” rating from nine analysts, with two sell, four hold, and three buy ratings. The average 12-month price target is $9.69, above the stock’s reported opening price of $5.75.
• Recent analyst views were mixed: UBS downgraded the stock to “neutral” and cut its target to $6, while Truist maintained a “buy” rating despite lowering its target to $10.
• O-I Glass missed quarterly earnings expectations, reporting $0.09 in EPS versus a $0.24 consensus estimate, while revenue declined 2.2% year over year to $1.67 billion. Institutional investors own 97.24% of the company’s shares.

O-I Glass, Inc. (NYSE:OI - Get Free Report) has earned a consensus recommendation of "Hold" from the nine research firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $9.69.

Several research firms recently weighed in on OI. Bank of America restated an "underperform" rating and set a $11.00 price target on shares of O-I Glass in a research report on Tuesday, July 14th. Robert W. Baird set a $13.00 price objective on shares of O-I Glass in a research report on Thursday, July 30th. Truist Financial dropped their target price on shares of O-I Glass from $13.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Weiss Ratings raised shares of O-I Glass from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday. Finally, UBS Group downgraded O-I Glass from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $11.00 to $6.00 in a research note on Monday.

Institutional Trading of O-I Glass

Several hedge funds have recently made changes to their positions in the company. Amundi grew its stake in O-I Glass by 1.1% in the 1st quarter. Amundi now owns 169,728 shares of the industrial products company's stock worth $1,785,000 after buying an additional 1,841 shares in the last quarter. Optiver Holding B.V. grew its position in O-I Glass by 491.5% in the first quarter. Optiver Holding B.V. now owns 2,496 shares of the industrial products company's stock worth $26,000 after acquiring an additional 2,074 shares in the last quarter. Strs Ohio increased its stake in O-I Glass by 3.9% in the first quarter. Strs Ohio now owns 63,800 shares of the industrial products company's stock valued at $671,000 after acquiring an additional 2,400 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in O-I Glass by 29.2% in the first quarter. EverSource Wealth Advisors LLC now owns 11,038 shares of the industrial products company's stock valued at $116,000 after acquiring an additional 2,495 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its position in O-I Glass by 12.5% during the first quarter. Pictet Asset Management Holding SA now owns 27,516 shares of the industrial products company's stock valued at $289,000 after purchasing an additional 3,051 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors.

O-I Glass Stock Performance

Shares of O-I Glass stock opened at $5.75 on Wednesday. The business's fifty day simple moving average is $6.67 and its 200 day simple moving average is $8.50. The firm has a market capitalization of $884.31 million, a P/E ratio of -0.77, a price-to-earnings-growth ratio of 2.07 and a beta of 0.68. O-I Glass has a 12 month low of $5.30 and a 12 month 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.

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). O-I Glass had a positive return on equity of 10.40% and a negative net margin of 18.13%.The business had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same period in the prior year, the firm posted $0.53 EPS. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. As a group, analysts anticipate that O-I Glass will post 0.37 EPS for the current year.

O-I Glass Company Profile

O-I Glass, Inc NYSE: OI is a global manufacturer of glass packaging. The company produces glass bottles and jars for food, beverages, beer, wine, spirits, pharmaceuticals and other consumer products, serving brand owners and manufacturers that use glass containers for packaging.

The company operates glass-container manufacturing facilities and provides related design, engineering and packaging services. Its products are used across a range of markets and geographies, including North and South America, Europe and other international markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.