O-I Glass, Inc. (NYSE:OI - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $14.83 and last traded at $14.71, with a volume of 2606033 shares traded. The stock had previously closed at $14.39.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the company. Citigroup raised their price objective on O-I Glass from $11.00 to $14.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Truist Financial restated a "buy" rating and issued a $16.00 price target (up from $13.00) on shares of O-I Glass in a research report on Thursday, May 1st. Wall Street Zen cut shares of O-I Glass from a "buy" rating to a "hold" rating in a research report on Saturday. Barclays raised their target price on shares of O-I Glass from $13.00 to $14.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $16.00 price target on shares of O-I Glass in a report on Monday, March 17th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $15.88.
View Our Latest Report on O-I Glass
O-I Glass Stock Up 2.2%
The company has a market cap of $2.27 billion, a P/E ratio of -11.67, a price-to-earnings-growth ratio of 0.29 and a beta of 0.96. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.73 and a current ratio of 1.24. The business's fifty day moving average is $12.96 and its two-hundred day moving average is $11.78.
O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly 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 firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate 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 company's revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Equities analysts predict that O-I Glass, Inc. will post 1.33 EPS for the current year.
Hedge Funds Weigh In On O-I Glass
Several institutional investors have recently made changes to their positions in the company. Rhumbline Advisers increased its holdings in O-I Glass by 0.8% during the fourth quarter. Rhumbline Advisers now owns 485,732 shares of the industrial products company's stock valued at $5,265,000 after buying an additional 3,980 shares during the period. Principal Financial Group Inc. increased its holdings in shares of O-I Glass by 2.2% in the 4th quarter. Principal Financial Group Inc. now owns 750,006 shares of the industrial products company's stock valued at $8,130,000 after acquiring an additional 15,964 shares during the period. Illinois Municipal Retirement Fund increased its holdings in shares of O-I Glass by 3.7% in the 4th quarter. Illinois Municipal Retirement Fund now owns 89,224 shares of the industrial products company's stock valued at $967,000 after acquiring an additional 3,207 shares during the period. Jones Financial Companies Lllp raised its position in shares of O-I Glass by 277.1% in the 4th quarter. Jones Financial Companies Lllp now owns 14,982 shares of the industrial products company's stock worth $162,000 after acquiring an additional 11,009 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of O-I Glass by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,848,857 shares of the industrial products company's stock worth $20,042,000 after purchasing an additional 25,719 shares during the last quarter. Hedge funds and other institutional investors own 97.24% of the company's stock.
O-I Glass Company Profile
(
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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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