O-I Glass (NYSE:OI - Get Free Report) had its price target lowered by Royal Bank of Canada from $25.00 to $21.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an "outperform" rating on the industrial products company's stock. Royal Bank of Canada's target price would indicate a potential upside of 60.43% from the stock's previous close.
Several other research analysts have also recently commented on the company. Barclays boosted their target price on O-I Glass from $16.00 to $18.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 13th. Bank of America reaffirmed a "neutral" rating and set a $16.00 price target (down previously from $21.00) on shares of O-I Glass in a report on Friday, April 19th. UBS Group began coverage on shares of O-I Glass in a research note on Tuesday, January 16th. They issued a "buy" rating and a $26.00 price target on the stock. Citigroup cut shares of O-I Glass from a "buy" rating to a "neutral" rating and increased their target price for the company from $17.00 to $18.00 in a research note on Wednesday, January 3rd. Finally, TheStreet cut shares of O-I Glass from a "b-" rating to a "c-" rating in a research report on Tuesday, February 6th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $19.89.
Check Out Our Latest Stock Analysis on OI
O-I Glass Stock Up 4.1 %
OI traded up $0.51 during trading on Thursday, reaching $13.09. The stock had a trading volume of 2,915,136 shares, compared to its average volume of 1,762,484. O-I Glass has a one year low of $12.40 and a one year high of $23.57. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 2.69. The stock's 50 day moving average is $15.87 and its two-hundred day moving average is $15.58. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -8.13, a P/E/G ratio of 1.04 and a beta of 1.36.
O-I Glass (NYSE:OI - Get Free Report) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.09. The business had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.69 billion. O-I Glass had a positive return on equity of 17.85% and a negative net margin of 3.45%. The business's revenue for the quarter was down 13.0% on a year-over-year basis. During the same period last year, the firm posted $1.29 earnings per share. As a group, analysts expect that O-I Glass will post 2.33 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Exchange Traded Concepts LLC purchased a new stake in O-I Glass during the third quarter valued at $250,000. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of O-I Glass by 4.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 155,152 shares of the industrial products company's stock worth $2,596,000 after buying an additional 6,580 shares during the period. Mackenzie Financial Corp grew its stake in O-I Glass by 15.5% during the 3rd quarter. Mackenzie Financial Corp now owns 18,929 shares of the industrial products company's stock valued at $304,000 after purchasing an additional 2,540 shares during the last quarter. TD Asset Management Inc boosted its position in O-I Glass by 75.0% during the third quarter. TD Asset Management Inc now owns 22,400 shares of the industrial products company's stock worth $375,000 after purchasing an additional 9,600 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of O-I Glass by 29.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 10,289 shares of the industrial products company's stock valued at $172,000 after purchasing an additional 2,365 shares during the last quarter. Institutional investors own 97.24% of the company's stock.
About O-I Glass
(
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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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