O-I Glass, Inc. (NYSE:OI) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts maintain a “Hold” consensus on O-I Glass, with two sell, four hold and three buy ratings. The average 12-month price target is $10.19, though several firms recently lowered their targets.
• O-I Glass shares opened at $6.65, near their 12-month low of $6.58, and are trading below both their 50-day and 200-day moving averages.
• The company’s latest quarterly results fell short of expectations, with EPS of $0.09 versus a $0.24 consensus and revenue down 2.2% year over year to $1.67 billion. Analysts expect full-year EPS of $0.42.

Shares of O-I Glass, Inc. (NYSE:OI - Get Free Report) have been assigned a consensus rating of "Hold" from the nine analysts that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $10.1875.

A number of research firms recently commented on OI. UBS Group decreased their target price on O-I Glass from $15.00 to $11.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Truist Financial cut their price target on O-I Glass from $13.00 to $10.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Wells Fargo & Company reduced their price objective on O-I Glass from $13.00 to $12.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 15th. BNP Paribas Exane cut O-I Glass from an "outperform" rating to a "neutral" rating and set a $8.50 price objective on the stock. in a report on Thursday, July 30th. Finally, Royal Bank Of Canada downgraded O-I Glass from an "outperform" rating to a "sector perform" rating and lowered their target price for the company from $10.00 to $8.00 in a research report on Thursday, August 13th.

O-I Glass Trading Down 2.1%

Shares of NYSE:OI opened at $6.65 on Tuesday. The stock has a 50 day moving average of $8.67 and a 200 day moving average of $10.37. The company has a market cap of $1.02 billion, a PE ratio of -0.88, a price-to-earnings-growth ratio of 2.20 and a beta of 0.66. O-I Glass has a 12-month low of $6.58 and a 12-month high of $16.91. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 8.89.

O-I Glass (NYSE:OI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.15). The business had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.68 billion. O-I Glass had a positive return on equity of 10.40% and a negative net margin of 18.13%.The company's quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.53 EPS. As a group, equities research analysts expect that O-I Glass will post 0.42 EPS for the current year.

Institutional Investors Weigh In On O-I Glass

A number of hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its stake in shares of O-I Glass by 87.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company's stock worth $26,000 after buying an additional 830 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of O-I Glass during the 2nd quarter valued at about $29,000. Quarry LP purchased a new stake in shares of O-I Glass during the 4th quarter valued at about $32,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of O-I Glass by 36,533.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 2,192 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of O-I Glass in the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 97.24% of the company's stock.

About O-I Glass

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.

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