O-I Glass, Inc. (NYSE:OI) Receives Average Rating of "Hold" from Brokerages

Key Points

• Consensus "Hold" — Ten analysts give O‑I Glass a consensus rating of "Hold" (2 sell, 3 hold, 4 buy, 1 strong buy) with an average 1‑year price target of $16.78.
• Recent analyst moves have trended downward: Citigroup cut its target to $12 (neutral) and Wells Fargo downgraded to equal weight with a $13 target, while RBC trimmed its target to $18 but kept an outperform rating.
• Stock and fundamentals: shares opened at $10.83 (1‑year range $9.84–$16.91), the company has a negative P/E (-12.89) and high leverage (debt/equity 3.35), and institutional investors own about 97.24% of the stock.

Shares of O-I Glass, Inc. (NYSE:OI - Get Free Report) have been given a consensus rating of "Hold" by the ten ratings firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $16.7778.

Several research firms have issued reports on OI. Citigroup dropped their target price on O-I Glass from $16.00 to $12.00 and set a "neutral" rating on the stock in a research report on Monday. Weiss Ratings restated a "sell (d-)" rating on shares of O-I Glass in a research report on Thursday, January 22nd. Royal Bank Of Canada dropped their target price on O-I Glass from $19.00 to $18.00 and set an "outperform" rating on the stock in a research report on Thursday, February 26th. Wells Fargo & Company downgraded O-I Glass from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $18.00 to $13.00 in a research report on Friday, March 20th. Finally, Zacks Research downgraded O-I Glass from a "hold" rating to a "strong sell" rating in a research report on Tuesday, March 3rd.

Institutional Investors Weigh In On O-I Glass

Several institutional investors have recently made changes to their positions in OI. Farther Finance Advisors LLC lifted its position in shares of O-I Glass by 87.6% during the fourth quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company's stock worth $26,000 after acquiring an additional 830 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of O-I Glass in the second quarter worth $29,000. Quarry LP purchased a new stake in shares of O-I Glass in the fourth quarter worth $32,000. Caitong International Asset Management Co. Ltd raised its position in shares of O-I Glass by 36,533.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company's stock worth $32,000 after buying an additional 2,192 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of O-I Glass by 64.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company's stock worth $35,000 after buying an additional 918 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company's stock.

O-I Glass Price Performance

Shares of NYSE OI opened at $10.83 on Wednesday. The stock has a fifty day simple moving average of $12.41 and a two-hundred day simple moving average of $13.32. O-I Glass has a 1-year low of $9.84 and a 1-year high of $16.91. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -12.89, a price-to-earnings-growth ratio of 0.90 and a beta of 0.84. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 3.35.

O-I Glass (NYSE:OI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. O-I Glass had a positive return on equity of 18.07% and a negative net margin of 2.01%.The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the company earned ($0.05) earnings per share. O-I Glass's revenue was down 1.9% compared to the same quarter last year. Analysts anticipate that O-I Glass will post 1.33 earnings per share for the current year.

O-I Glass Company Profile

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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