O-I Glass, Inc. (NYSE:OI) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of O-I Glass, Inc. (NYSE:OI - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the ten research firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $17.30.

A number of equities research analysts recently weighed in on the stock. Citigroup boosted their price objective on shares of O-I Glass from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Thursday, July 3rd. Barclays boosted their price objective on shares of O-I Glass from $13.00 to $14.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Truist Financial boosted their price objective on shares of O-I Glass from $16.00 to $21.00 and gave the company a "buy" rating in a research report on Friday. BNP Paribas set a $18.00 price objective on shares of O-I Glass in a research report on Wednesday, June 25th. Finally, Wall Street Zen raised shares of O-I Glass from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th.

Institutional Investors Weigh In On O-I Glass

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in O-I Glass by 79.3% in the 1st quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock valued at $30,000 after buying an additional 1,142 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of O-I Glass during the 1st quarter worth $30,000. Sterling Capital Management LLC increased its stake in shares of 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 worth $53,000 after purchasing an additional 4,343 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of O-I Glass during the 1st quarter worth $85,000. Finally, New Age Alpha Advisors LLC acquired a new position in shares of O-I Glass during the 4th quarter worth $86,000. Hedge funds and other institutional investors own 97.24% of the company's stock.

O-I Glass Stock Performance

NYSE:OI opened at $15.43 on Monday. The company has a current ratio of 1.24, a quick ratio of 0.73 and a debt-to-equity ratio of 3.83. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of -12.25, a PEG ratio of 0.31 and a beta of 0.97. The firm's fifty day simple moving average is $13.99 and its 200 day simple moving average is $12.22. O-I Glass has a twelve month low of $9.23 and a twelve month high of $16.04.

O-I Glass (NYSE:OI - Get Free Report) last posted its earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.22. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.55 billion. O-I Glass had a negative net margin of 2.98% and a positive return on equity of 8.48%. The business's quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 EPS. As a group, equities research analysts expect that O-I Glass will post 1.33 earnings per share for the current fiscal 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.

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