O-I Glass (NYSE:OI - Get Free Report)'s stock had its "neutral" rating restated by investment analysts at Bank of America in a report released on Wednesday, MarketBeat.com reports. They currently have a $17.00 target price on the industrial products company's stock, up from their prior target price of $15.00. Bank of America's price objective would indicate a potential upside of 8.35% from the stock's current price.
OI has been the topic of several other research reports. BNP Paribas Exane initiated coverage on shares of O-I Glass in a research report on Wednesday, June 25th. They set an "outperform" rating and a $18.00 price target on the stock. BNP Paribas set a $18.00 target price on shares of O-I Glass in a report on Wednesday, June 25th. 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. Citigroup raised their target price on shares of O-I Glass from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $16.00 target price on shares of O-I Glass in a report on Monday, March 17th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $16.80.
Check Out Our Latest Research Report on OI
O-I Glass Stock Up 0.5%
Shares of OI stock traded up $0.08 during trading hours on Wednesday, hitting $15.69. 381,133 shares of the company were exchanged, compared to its average volume of 1,508,203. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.73 and a current ratio of 1.24. O-I Glass has a one year low of $9.23 and a one year high of $16.04. The business's 50-day simple moving average is $13.89 and its two-hundred day simple moving average is $12.12. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -12.45, a P/E/G ratio of 0.32 and a beta of 0.97.
O-I Glass (NYSE:OI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.40 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.57 billion for the quarter, compared to analysts' expectations of $1.55 billion. During the same quarter last year, the company posted $0.45 earnings per share. The company's quarterly revenue was up .4% compared to the same quarter last year. Sell-side analysts predict that O-I Glass will post 1.33 EPS for the current fiscal year.
Hedge Funds Weigh In On O-I Glass
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of 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 buying an additional 916 shares during the period. Russell Investments Group Ltd. boosted its stake in O-I Glass by 1.5% during the 1st quarter. Russell Investments Group Ltd. now owns 70,572 shares of the industrial products company's stock valued at $809,000 after purchasing an additional 1,074 shares in the last quarter. GAMMA Investing LLC boosted its stake in O-I Glass by 79.3% during the 1st quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 1,142 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in shares of 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 worth $863,000 after buying an additional 1,204 shares in the last quarter. Finally, Baird Financial Group Inc. raised its stake in shares of 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 worth $175,000 after buying an additional 1,410 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.
About O-I Glass
(
Get Free Report)
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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