O-I Glass (NYSE:OI) Upgraded to Strong-Buy at BNP Paribas

BNP Paribas upgraded shares of O-I Glass (NYSE:OI - Free Report) to a strong-buy rating in a research report sent to investors on Wednesday, Marketbeat reports.

Several other equities analysts have also recently issued reports on OI. Barclays boosted their price objective on O-I Glass from $13.00 to $14.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. BNP Paribas Exane assumed coverage on O-I Glass in a report on Wednesday. They issued an "outperform" rating and a $18.00 price target for the company. Wall Street Zen lowered O-I Glass from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Royal Bank Of Canada reissued an "outperform" rating and set a $16.00 target price on shares of O-I Glass in a research note on Monday, March 17th. Finally, Citigroup boosted their price objective on O-I Glass from $11.00 to $14.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, O-I Glass has a consensus rating of "Moderate Buy" and an average price target of $16.30.

O-I Glass Stock Performance

OI traded up $0.32 on Wednesday, reaching $15.51. 2,260,928 shares of the stock were exchanged, compared to its average volume of 1,546,769. The company has a debt-to-equity ratio of 3.83, a current ratio of 1.24 and a quick ratio of 0.73. The company's 50-day moving average price is $13.12 and its 200 day moving average price is $11.82. The firm has a market capitalization of $2.40 billion, a PE ratio of -12.31, a PEG ratio of 0.30 and a beta of 0.96. O-I Glass has a fifty-two week low of $9.23 and a fifty-two week high of $15.57.

O-I Glass (NYSE:OI - Get Free Report) last released its earnings results 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 positive return on equity of 8.48% and a negative net margin of 2.98%. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company's revenue was up .4% compared to the same quarter last year. As a group, sell-side analysts forecast that O-I Glass will post 1.33 EPS for the current fiscal year.

Hedge Funds Weigh In On O-I Glass

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC raised its stake in shares of O-I Glass by 131.5% in the first quarter. Voya Investment Management LLC now owns 132,899 shares of the industrial products company's stock valued at $1,524,000 after acquiring an additional 75,489 shares in the last quarter. Strs Ohio purchased a new stake in O-I Glass during the 1st quarter worth about $747,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in O-I Glass by 43.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 526,279 shares of the industrial products company's stock valued at $6,036,000 after purchasing an additional 160,649 shares in the last quarter. United Services Automobile Association purchased a new position in O-I Glass in the first quarter worth approximately $119,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of O-I Glass during the 1st quarter worth $658,000. Hedge funds and other institutional investors own 97.24% of the company's stock.

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.