Wall Street Zen Upgrades O-I Glass (NYSE:OI) to Buy

O-I Glass (NYSE:OI - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

A number of other analysts have also recently weighed in on OI. Citigroup increased their price objective on shares of O-I Glass from $11.00 to $14.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $16.00 price objective on shares of O-I Glass in a report on Monday, March 17th. Barclays increased their price objective 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, Truist Financial reaffirmed a "buy" rating and issued a $16.00 price objective (up previously from $13.00) on shares of O-I Glass in a report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.88.

O-I Glass Stock Performance

Shares of NYSE:OI traded down $0.01 on Friday, reaching $13.05. 34,155 shares of the company's stock were exchanged, compared to its average volume of 1,545,033. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of -18.34, a PEG ratio of 0.24 and a beta of 0.93. O-I Glass has a fifty-two week low of $9.23 and a fifty-two week high of $14.34. The business's 50-day moving average is $12.06 and its two-hundred day moving average is $11.68. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78.

O-I Glass (NYSE:OI - Get Free Report) last issued its earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.22. The company had revenue of $1.57 billion for the quarter, compared to analysts' expectations of $1.55 billion. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. The firm's revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 earnings per share. As a group, equities research analysts forecast that O-I Glass will post 1.33 EPS for the current year.

Hedge Funds Weigh In On O-I Glass

Several large investors have recently made changes to their positions in OI. Highland Peak Capital LLC grew its stake in shares of O-I Glass by 87.5% in the 4th quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company's stock worth $42,029,000 after purchasing an additional 1,809,237 shares during the last quarter. Cooper Creek Partners Management LLC grew its stake in shares of 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 worth $120,132,000 after purchasing an additional 1,705,216 shares during the last quarter. Millennium Management LLC grew its stake in shares of O-I Glass by 251.7% in the 4th quarter. Millennium Management LLC now owns 1,458,102 shares of the industrial products company's stock worth $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 4th quarter worth approximately $10,885,000. Finally, MetLife Investment Management LLC grew its stake in shares of O-I Glass by 1,043.3% in the 1st 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 last quarter. 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.