BNP Paribas upgraded shares of O-I Glass (NYSE:OI - Free Report) to a strong-buy rating in a research note released on Wednesday, Marketbeat.com reports.
A number of other research analysts have also recently weighed in on OI. Citigroup lifted their target price on O-I Glass from $11.00 to $14.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Wall Street Zen lowered O-I Glass from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Truist Financial reissued a "buy" rating and issued a $16.00 price objective (up from $13.00) on shares of O-I Glass in a research report on Thursday, May 1st. Royal Bank Of Canada reissued an "outperform" rating and issued a $16.00 price objective on shares of O-I Glass in a research report on Monday, March 17th. Finally, Barclays raised their price objective on 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. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $16.30.
Read Our Latest Research Report on OI
O-I Glass Trading Down 2.7%
Shares of OI stock traded down $0.43 during mid-day trading on Wednesday, hitting $15.09. 3,853,081 shares of the company's stock were exchanged, compared to its average volume of 1,529,018. O-I Glass has a fifty-two week low of $9.23 and a fifty-two week high of $15.58. The stock has a 50-day simple moving average of $13.30 and a two-hundred day simple moving average of $11.87. 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 stock has a market cap of $2.33 billion, a price-to-earnings ratio of -11.97, a PEG ratio of 0.31 and a beta of 0.96.
O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate 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 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 firm earned $0.45 earnings per share. The business's revenue was up .4% on a year-over-year basis. Equities analysts expect that O-I Glass will post 1.33 EPS for the current fiscal year.
Institutional Trading of O-I Glass
Hedge funds and other institutional investors have recently modified their holdings of the business. Sei Investments Co. increased its position in shares of O-I Glass by 112.8% during the fourth quarter. Sei Investments Co. now owns 93,174 shares of the industrial products company's stock worth $1,010,000 after acquiring an additional 49,383 shares during the last quarter. SG Americas Securities LLC increased its holdings in O-I Glass by 117.7% in the first quarter. SG Americas Securities LLC now owns 45,766 shares of the industrial products company's stock valued at $525,000 after buying an additional 24,743 shares during the last quarter. Victory Capital Management Inc. increased its holdings in O-I Glass by 57.1% in the fourth quarter. Victory Capital Management Inc. now owns 139,302 shares of the industrial products company's stock valued at $1,510,000 after buying an additional 50,641 shares during the last quarter. Northern Trust Corp increased its holdings in O-I Glass by 8.5% in the fourth quarter. Northern Trust Corp now owns 1,738,277 shares of the industrial products company's stock valued at $18,843,000 after buying an additional 135,989 shares during the last quarter. Finally, Amundi increased its holdings in O-I Glass by 212.9% in the fourth quarter. Amundi now owns 95,302 shares of the industrial products company's stock valued at $996,000 after buying an additional 64,844 shares during the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.
O-I Glass Company Profile
(
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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