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

Shares of O-I Glass, Inc. (NYSE:OI - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $15.88.

A number of research firms have weighed in on OI. Truist Financial reissued a "buy" rating and issued a $16.00 target price (up previously from $13.00) on shares of O-I Glass in a report on Thursday, May 1st. Barclays boosted their price objective 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. Citigroup boosted their price objective on O-I Glass from $11.00 to $14.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Wall Street Zen raised O-I Glass from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $16.00 target price on shares of O-I Glass in a research report on Monday, March 17th.

Institutional Investors Weigh In On O-I Glass

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Trust & Banking Corp increased its stake in O-I Glass by 2.2% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 42,900 shares of the industrial products company's stock worth $465,000 after acquiring an additional 916 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of O-I Glass by 1.5% during the first quarter. Russell Investments Group Ltd. now owns 70,572 shares of the industrial products company's stock worth $809,000 after purchasing an additional 1,074 shares in the last quarter. GAMMA Investing LLC increased its position in shares of O-I Glass by 79.3% during the first quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock worth $30,000 after purchasing an additional 1,142 shares in the last quarter. SummerHaven Investment Management LLC increased its position in O-I Glass by 1.6% in the 1st quarter. SummerHaven Investment Management LLC now owns 75,226 shares of the industrial products company's stock valued at $863,000 after acquiring an additional 1,204 shares during the period. Finally, Baird Financial Group Inc. increased its position in O-I Glass by 9.6% in the 4th quarter. Baird Financial Group Inc. now owns 16,152 shares of the industrial products company's stock valued at $175,000 after acquiring an additional 1,410 shares during the period. Institutional investors and hedge funds own 97.24% of the company's stock.

O-I Glass Trading Down 2.0%

Shares of NYSE:OI traded down $0.27 during trading on Friday, reaching $13.14. 213,025 shares of the company traded hands, compared to its average volume of 1,547,732. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of -18.51, a P/E/G ratio of 0.24 and a beta of 0.93. O-I Glass has a 52-week low of $9.23 and a 52-week high of $14.34. 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 business's fifty day moving average is $12.03 and its 200-day moving average is $11.67.

O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the company earned $0.45 earnings per share. The firm's quarterly revenue was up .4% compared to the same quarter last year. As a group, analysts forecast that O-I Glass will post 1.33 EPS for the current year.

O-I Glass Company Profile

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.