O-I Glass (NYSE:OI) Shares Gap Down to $15.42

O-I Glass, Inc. (NYSE:OI - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $15.42, but opened at $14.75. O-I Glass shares last traded at $14.51, with a volume of 535,608 shares traded.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on OI shares. Truist Financial reaffirmed a "buy" rating and issued a $20.00 price target on shares of O-I Glass in a report on Monday, March 25th. Citigroup cut shares of O-I Glass from a "buy" rating to a "neutral" rating and upped their price target for the company from $17.00 to $18.00 in a report on Wednesday, January 3rd. StockNews.com cut shares of O-I Glass from a "buy" rating to a "hold" rating in a report on Thursday, February 15th. UBS Group started coverage on shares of O-I Glass in a report on Tuesday, January 16th. They issued a "buy" rating and a $26.00 price target on the stock. Finally, TheStreet cut shares of O-I Glass from a "b-" rating to a "c-" rating in a report on Tuesday, February 6th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $22.67.

O-I Glass Stock Down 5.5 %

The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of -19.43, a PEG ratio of 1.04 and a beta of 1.35. The stock's fifty day simple moving average is $16.16 and its two-hundred day simple moving average is $15.64. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.23 and a quick ratio of 0.77.

O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.03 by $0.09. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. O-I Glass had a negative net margin of 1.45% and a positive return on equity of 24.90%. The company's quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 earnings per share. On average, sell-side analysts predict that O-I Glass, Inc. will post 2.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On O-I Glass

Institutional investors have recently modified their holdings of the company. Covestor Ltd grew its position in shares of O-I Glass by 259.7% during the third quarter. Covestor Ltd now owns 1,669 shares of the industrial products company's stock worth $28,000 after acquiring an additional 1,205 shares during the last quarter. Belpointe Asset Management LLC grew its position in shares of O-I Glass by 109.4% during the first quarter. Belpointe Asset Management LLC now owns 1,518 shares of the industrial products company's stock worth $34,000 after acquiring an additional 793 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of O-I Glass during the first quarter worth about $34,000. TFO Wealth Partners LLC grew its position in shares of O-I Glass by 24,311.1% during the fourth quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company's stock worth $36,000 after acquiring an additional 2,188 shares during the last quarter. Finally, Quarry LP grew its position in O-I Glass by 499.3% in the 1st quarter. Quarry LP now owns 1,744 shares of the industrial products company's stock valued at $40,000 after buying an additional 1,453 shares in 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.