O-I Glass (NYSE:OI) Rating Reiterated by Bank of America

O-I Glass (NYSE:OI - Get Free Report)'s stock had its "neutral" rating reiterated by equities researchers at Bank of America in a research note issued on Friday, MarketBeat reports. They presently have a $16.00 target price on the industrial products company's stock, down from their prior target price of $21.00. Bank of America's price target points to a potential upside of 9.81% from the company's current price.

OI has been the subject of several other reports. Citigroup lowered O-I Glass from a "buy" rating to a "neutral" rating and upped their target price for the company from $17.00 to $18.00 in a report on Wednesday, January 3rd. Barclays upped their target price on O-I Glass from $16.00 to $18.00 and gave the company an "equal weight" rating in a report on Tuesday, February 13th. TheStreet lowered O-I Glass from a "b-" rating to a "c-" rating in a report on Tuesday, February 6th. Truist Financial reaffirmed a "buy" rating and issued a $20.00 target price on shares of O-I Glass in a report on Monday, March 25th. Finally, StockNews.com downgraded O-I Glass from a "buy" rating to a "hold" rating in a research note on Thursday, February 15th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the 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 %

Shares of OI traded down $0.85 during trading hours on Friday, hitting $14.57. The stock had a trading volume of 2,734,246 shares, compared to its average volume of 1,686,469. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.23 and a quick ratio of 0.77. The firm has a 50 day simple moving average of $16.16 and a 200-day simple moving average of $15.64. The firm has a market capitalization of $2.27 billion, a P/E ratio of -19.43, a price-to-earnings-growth ratio of 1.04 and a beta of 1.35. O-I Glass has a 1-year low of $13.56 and a 1-year high of $23.57.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.09. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate 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 company's quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS. Sell-side analysts predict that O-I Glass will post 2.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OI. Covestor Ltd grew its stake 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 valued at $28,000 after buying an additional 1,205 shares during the last quarter. Belpointe Asset Management LLC grew its stake 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 valued at $34,000 after buying 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 valued at about $34,000. TFO Wealth Partners LLC grew its stake 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 valued at $36,000 after buying an additional 2,188 shares during the last quarter. Finally, Quarry LP grew its stake 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 valued at $40,000 after buying an additional 1,453 shares during 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.