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

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

Other analysts have also recently issued reports about the stock. Truist Financial reiterated a "buy" rating and issued a $16.00 target price (up from $13.00) on shares of O-I Glass in a research note on Thursday, May 1st. Barclays increased 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 research note on Friday, May 2nd. Citigroup increased their target price on shares of O-I Glass from $11.00 to $14.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $16.00 target price on shares of O-I Glass in a research note on Monday, March 17th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $15.88.

O-I Glass Stock Performance

Shares of OI stock traded up $0.10 during trading on Friday, reaching $13.16. 848,761 shares of the company's stock traded hands, compared to its average volume of 1,550,602. The company has a market capitalization of $2.04 billion, a P/E ratio of -18.54, a PEG ratio of 0.24 and a beta of 0.93. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 3.78. The firm's 50-day moving average is $12.08 and its 200 day moving average is $11.68. O-I Glass has a 1 year low of $9.23 and a 1 year high of $14.34.

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

Hedge Funds Weigh In On O-I Glass

A number of institutional investors have recently made changes to their positions in the stock. Strs Ohio bought a new position in shares of O-I Glass in the 1st quarter worth $747,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of O-I Glass by 43.9% during 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 during the last quarter. United Services Automobile Association bought a new position in shares of O-I Glass during the 1st quarter valued at $119,000. Dynamic Technology Lab Private Ltd bought a new position in shares of O-I Glass during the 1st quarter valued at $658,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of O-I Glass by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,151 shares of the industrial products company's stock valued at $1,057,000 after purchasing an additional 4,055 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.