O-I Glass (NYSE:OI) Stock Price Up 4.8% - What's Next?

O-I Glass, Inc. (NYSE:OI - Get Free Report) shares shot up 4.8% during mid-day trading on Monday . The company traded as high as $14.44 and last traded at $14.69. 430,993 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 1,526,800 shares. The stock had previously closed at $14.02.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OI. BNP Paribas Exane began coverage on O-I Glass in a report on Wednesday. They issued an "outperform" rating and a $18.00 price objective for the company. Truist Financial restated a "buy" rating and set a $16.00 price target (up from $13.00) on shares of O-I Glass in a report on Thursday, May 1st. Wall Street Zen downgraded O-I Glass from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Barclays raised their price target 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. Finally, BNP Paribas set a $18.00 price target on O-I Glass in a report on Wednesday. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $16.30.

O-I Glass Price Performance

The company has a debt-to-equity ratio of 3.83, a current ratio of 1.24 and a quick ratio of 0.73. The company has a market capitalization of $2.40 billion, a PE ratio of -12.31, a PEG ratio of 0.31 and a beta of 0.96. The firm has a 50-day moving average of $13.21 and a 200 day moving average of $11.85.

O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.40 EPS for the quarter, beating 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 company had revenue of $1.57 billion for the quarter, compared to analysts' expectations of $1.55 billion. During the same period last year, the firm posted $0.45 earnings per share. O-I Glass's revenue was up .4% compared to the same quarter last year. As a group, research analysts anticipate that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On O-I Glass

Several institutional investors have recently modified their holdings of OI. GAMMA Investing LLC boosted its position in O-I Glass by 79.3% in the first quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock worth $30,000 after purchasing an additional 1,142 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in O-I Glass in the first quarter worth about $30,000. Sterling Capital Management LLC boosted its position in O-I Glass by 807.2% in the fourth quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company's stock worth $53,000 after purchasing an additional 4,343 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in O-I Glass in the first quarter worth about $85,000. Finally, New Age Alpha Advisors LLC purchased a new position in O-I Glass in the fourth quarter worth about $86,000. 97.24% of the stock is owned by hedge funds and other institutional investors.

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.