Analysts Set O-I Glass, Inc. (NYSE:OI) Target Price at $15.88

O-I Glass, Inc. (NYSE:OI - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eight research firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $15.88.

Several equities analysts have recently commented on OI shares. Barclays upped their target price on O-I Glass from $13.00 to $14.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $16.00 target price on shares of O-I Glass in a report on Monday, March 17th. Citigroup upped their target price on O-I Glass from $11.00 to $14.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Truist Financial reaffirmed a "buy" rating and set a $16.00 target price (up from $13.00) on shares of O-I Glass in a report on Thursday, May 1st. Finally, Wall Street Zen raised O-I Glass from a "hold" rating to a "buy" rating in a report on Saturday.

Institutional Investors Weigh In On O-I Glass

A number of institutional investors and hedge funds have recently modified their holdings of OI. GAMMA Investing LLC lifted its position in shares of O-I Glass by 79.3% during the 1st quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 1,142 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of O-I Glass during the 1st quarter valued at $30,000. R Squared Ltd acquired a new stake in shares of O-I Glass during the 4th quarter valued at $45,000. Sterling Capital Management LLC raised its stake in O-I Glass by 807.2% during the 4th quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 4,343 shares during the period. Finally, KBC Group NV raised its stake in O-I Glass by 42.5% during the 4th quarter. KBC Group NV now owns 7,740 shares of the industrial products company's stock valued at $84,000 after purchasing an additional 2,309 shares during the period. Institutional investors and hedge funds own 97.24% of the company's stock.

O-I Glass Stock Up 2.6%

Shares of OI traded up $0.35 during midday trading on Friday, reaching $13.40. 874,101 shares of the company were exchanged, compared to its average volume of 1,552,842. O-I Glass has a 1-year low of $9.23 and a 1-year high of $14.34. The company has a market cap of $2.07 billion, a price-to-earnings ratio of -18.87, a P/E/G ratio of 0.24 and a beta of 0.93. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 3.78. The stock has a 50-day moving average price of $12.01 and a 200-day moving average price of $11.66.

O-I Glass (NYSE:OI - Get Free Report) last announced its earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.22. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period in the previous year, the company earned $0.45 earnings per share. The company's revenue for the quarter was up .4% compared to the same quarter last year. Research analysts expect that O-I Glass will post 1.33 earnings per share for the current year.

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.