Shares of O-I Glass, Inc. (NYSE:OI - Get Free Report) were down 3.2% during trading on Thursday . The stock traded as low as $16.62 and last traded at $16.70. Approximately 368,366 shares were traded during trading, a decline of 78% from the average daily volume of 1,691,956 shares. The stock had previously closed at $17.25.
Analysts Set New Price Targets
Several analysts have recently commented on OI shares. Barclays raised their price objective on shares of O-I Glass from $16.00 to $18.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 13th. Truist Financial reiterated a "buy" rating and issued a $20.00 target price on shares of O-I Glass in a report on Monday, March 25th. Citigroup cut O-I Glass from a "buy" rating to a "neutral" rating and increased their target price for the stock from $17.00 to $18.00 in a report on Wednesday, January 3rd. TheStreet cut O-I Glass from a "b-" rating to a "c-" rating in a report on Tuesday, February 6th. Finally, UBS Group initiated coverage on O-I Glass in a report on Tuesday, January 16th. They issued a "buy" rating and a $26.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $24.00.
Check Out Our Latest Analysis on O-I Glass
O-I Glass Trading Down 6.8 %
The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.77 and a current ratio of 1.23. The firm has a 50 day simple moving average of $16.09 and a two-hundred day simple moving average of $15.79. The firm has a market capitalization of $2.47 billion, a P/E ratio of -21.43, a PEG ratio of 1.16 and a beta of 1.35.
O-I Glass (NYSE:OI - Get Free Report) last released its earnings results on Tuesday, February 6th. The industrial products company reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.09. The company had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.63 billion. O-I Glass had a positive return on equity of 24.90% and a negative net margin of 1.45%. The business's revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 EPS. Equities research analysts forecast that O-I Glass, Inc. will post 2.38 earnings per share for the current year.
Institutional Investors Weigh In On O-I Glass
Several large investors have recently added to or reduced their stakes in OI. Covestor Ltd grew its holdings in O-I Glass by 259.7% during the 3rd quarter. Covestor Ltd now owns 1,669 shares of the industrial products company's stock valued at $28,000 after buying an additional 1,205 shares in the last quarter. Belpointe Asset Management LLC grew its holdings in O-I Glass by 109.4% during the 1st quarter. Belpointe Asset Management LLC now owns 1,518 shares of the industrial products company's stock valued at $34,000 after buying an additional 793 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of O-I Glass during the first quarter worth about $34,000. TFO Wealth Partners LLC grew its holdings 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 purchasing an additional 2,188 shares in the last quarter. Finally, Quarry LP grew its holdings in shares of O-I Glass by 499.3% during the first quarter. Quarry LP now owns 1,744 shares of the industrial products company's stock worth $40,000 after purchasing an additional 1,453 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company's stock.
About O-I Glass
(
Get Free Report)
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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