O-I Glass' (OI) Neutral Rating Reaffirmed at Bank of America

O-I Glass (NYSE:OI - Get Free Report)'s stock had its "neutral" rating reissued by Bank of America in a research note issued on Wednesday, MarketBeat reports. They presently have a $17.00 price target on the industrial products company's stock, up from their previous price target of $15.00. Bank of America's target price points to a potential upside of 10.17% from the stock's current price.

A number of other equities research analysts also recently weighed in on OI. BNP Paribas Exane initiated coverage on shares of O-I Glass in a research note on Wednesday, June 25th. They set an "outperform" rating and a $18.00 price target for the company. BNP Paribas set a $18.00 price objective on O-I Glass in a research note on Wednesday, June 25th. Barclays increased their target price on O-I Glass from $13.00 to $14.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Citigroup boosted their target price on O-I Glass from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Finally, Wall Street Zen upgraded shares of O-I Glass from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $17.30.

O-I Glass Price Performance

OI stock traded down $0.10 during midday trading on Wednesday, reaching $15.43. 1,214,524 shares of the company's stock traded hands, compared to its average volume of 1,523,446. O-I Glass has a 1-year low of $9.23 and a 1-year high of $16.04. The company has a market cap of $2.39 billion, a price-to-earnings ratio of -12.25, a PEG ratio of 0.32 and a beta of 0.97. The company has a quick ratio of 0.73, a current ratio of 1.24 and a debt-to-equity ratio of 3.83. The company has a 50-day simple moving average of $13.95 and a two-hundred day simple moving average of $12.16.

O-I Glass (NYSE:OI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.22. O-I Glass had a negative net margin of 2.98% and a positive return on equity of 8.48%. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The company's revenue was up .4% on a year-over-year basis. On average, analysts anticipate that O-I Glass will post 1.33 earnings per share for the current year.

Hedge Funds Weigh In On O-I Glass

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cooper Creek Partners Management LLC raised its holdings in O-I Glass by 18.2% in the 4th quarter. Cooper Creek Partners Management LLC now owns 11,082,262 shares of the industrial products company's stock valued at $120,132,000 after acquiring an additional 1,705,216 shares during the period. Millennium Management LLC grew its position in shares of O-I Glass by 251.7% in the fourth quarter. Millennium Management LLC now owns 1,458,102 shares of the industrial products company's stock valued at $15,806,000 after purchasing an additional 1,043,570 shares during the last quarter. Mesirow Institutional Investment Management Inc. acquired a new position in shares of O-I Glass in the fourth quarter valued at approximately $10,885,000. MetLife Investment Management LLC increased its stake in shares of O-I Glass by 1,043.3% during the first quarter. MetLife Investment Management LLC now owns 1,074,764 shares of the industrial products company's stock worth $12,328,000 after purchasing an additional 980,758 shares during the period. Finally, Nuveen LLC acquired a new stake in O-I Glass during the 1st quarter worth approximately $10,738,000. 97.24% of the stock is owned by institutional investors.

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.