O-I Glass, Inc. (NYSE:OI - Get Free Report) shares rose 4.8% on Monday . The stock traded as high as $14.44 and last traded at $14.69. Approximately 430,993 shares changed hands during trading, a decline of 72% from the average daily volume of 1,526,800 shares. The stock had previously closed at $14.02.
Wall Street Analyst Weigh In
Several brokerages have recently commented on OI. Barclays increased their price target 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. Truist Financial reaffirmed a "buy" rating and issued a $16.00 price target (up previously from $13.00) on shares of O-I Glass in a research report on Thursday, May 1st. Citigroup increased their price objective on O-I Glass from $11.00 to $14.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $16.00 price objective on shares of O-I Glass in a report on Monday, March 17th. Finally, Wall Street Zen lowered O-I Glass from a "buy" rating to a "hold" rating in a report on Saturday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, O-I Glass currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.88.
View Our Latest Analysis on OI
O-I Glass Trading Up 2.2%
The firm has a market cap of $2.27 billion, a P/E ratio of -11.67, a price-to-earnings-growth ratio of 0.29 and a beta of 0.96. The company's fifty day moving average price is $13.03 and its two-hundred day moving average price is $11.80. The company has a current ratio of 1.24, a quick ratio of 0.73 and a debt-to-equity ratio of 3.83.
O-I Glass (NYSE:OI - Get Free Report) last announced its earnings results on Tuesday, April 29th. The industrial products company reported $0.40 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 the consensus estimate of $1.55 billion. During the same period in the previous year, the business earned $0.45 EPS. O-I Glass's revenue was up .4% compared to the same quarter last year. As a group, sell-side analysts predict that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.
Hedge Funds Weigh In On O-I Glass
Large investors have recently modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp grew its holdings in O-I Glass by 2.2% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 42,900 shares of the industrial products company's stock worth $465,000 after acquiring an additional 916 shares during the period. Russell Investments Group Ltd. boosted its holdings in O-I Glass by 1.5% during the first quarter. Russell Investments Group Ltd. now owns 70,572 shares of the industrial products company's stock worth $809,000 after buying an additional 1,074 shares during the last quarter. GAMMA Investing LLC grew its position in shares of O-I Glass by 79.3% during the 1st quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock worth $30,000 after buying an additional 1,142 shares during the period. SummerHaven Investment Management LLC increased its stake in shares of O-I Glass by 1.6% in the 1st quarter. SummerHaven Investment Management LLC now owns 75,226 shares of the industrial products company's stock valued at $863,000 after acquiring an additional 1,204 shares during the last quarter. Finally, Baird Financial Group Inc. raised its position in shares of O-I Glass by 9.6% in the 4th quarter. Baird Financial Group Inc. now owns 16,152 shares of the industrial products company's stock valued at $175,000 after acquiring an additional 1,410 shares during the period. 97.24% of the stock is currently owned by institutional investors and hedge funds.
About O-I Glass
(
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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