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

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

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

O-I Glass Stock Up 2.6%

Shares of NYSE OI traded up $0.35 during mid-day trading on Friday, reaching $13.40. 874,101 shares of the company were exchanged, compared to its average volume of 1,552,842. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -18.87, a P/E/G ratio of 0.24 and a beta of 0.93. O-I Glass has a 1 year low of $9.23 and a 1 year high of $14.34. The firm has a 50-day moving average of $12.01 and a 200 day moving average of $11.66.

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

Institutional Trading of O-I Glass

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in O-I Glass by 79.3% in the 1st quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 1,142 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of O-I Glass during the 1st quarter worth approximately $30,000. R Squared Ltd purchased a new position in O-I Glass in the 4th quarter valued at approximately $45,000. Sterling Capital Management LLC grew its stake in O-I Glass by 807.2% in the 4th quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company's stock valued at $53,000 after buying an additional 4,343 shares in the last quarter. Finally, KBC Group NV grew its stake in O-I Glass by 42.5% in the 4th quarter. KBC Group NV now owns 7,740 shares of the industrial products company's stock valued at $84,000 after buying an additional 2,309 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.

O-I Glass Company Profile

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.