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

Wall Street Zen upgraded shares of O-I Glass (NYSE:OI - Free Report) from a hold rating to a buy rating in a research note released on Sunday.

Other equities analysts have also recently issued research reports about the company. Citigroup lifted 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. Truist Financial restated a "buy" rating and set a $16.00 target price (up from $13.00) on shares of O-I Glass in a report on Thursday, May 1st. Barclays upped their price target on shares of O-I Glass from $13.00 to $14.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. BNP Paribas Exane initiated coverage on shares of O-I Glass in a report on Wednesday, June 25th. They set an "outperform" rating and a $18.00 price objective on the stock. Finally, BNP Paribas set a $18.00 target price on shares of O-I Glass in a research note on Wednesday, June 25th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $16.30.

O-I Glass Trading Up 2.3%

O-I Glass stock traded up $0.34 during midday trading on Friday, hitting $15.47. 723,283 shares of the stock were exchanged, compared to its average volume of 1,530,410. The stock has a market capitalization of $2.39 billion, a PE ratio of -12.30, a P/E/G ratio of 0.30 and a beta of 0.97. The company has a fifty day simple moving average of $13.45 and a two-hundred day simple moving average of $11.92. The company has a quick ratio of 0.73, a current ratio of 1.24 and a debt-to-equity ratio of 3.83. O-I Glass has a 52 week low of $9.23 and a 52 week high of $15.58.

O-I Glass (NYSE:OI - Get Free Report) last posted its earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.22. O-I Glass had a negative net margin of 2.98% and a positive return on equity of 8.48%. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period last year, the business posted $0.45 earnings per share. The business's revenue for the quarter was up .4% compared to the same quarter last year. Equities research analysts anticipate that O-I Glass will post 1.33 EPS for the current fiscal year.

Institutional Investors Weigh In On O-I Glass

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OI. Sei Investments Co. grew its holdings in shares of O-I Glass by 112.8% in the 4th quarter. Sei Investments Co. now owns 93,174 shares of the industrial products company's stock valued at $1,010,000 after acquiring an additional 49,383 shares in the last quarter. SG Americas Securities LLC raised its holdings in O-I Glass by 117.7% during the first quarter. SG Americas Securities LLC now owns 45,766 shares of the industrial products company's stock worth $525,000 after acquiring an additional 24,743 shares in the last quarter. Victory Capital Management Inc. boosted its position in O-I Glass by 57.1% during the fourth quarter. Victory Capital Management Inc. now owns 139,302 shares of the industrial products company's stock valued at $1,510,000 after purchasing an additional 50,641 shares during the last quarter. Northern Trust Corp grew its stake in O-I Glass by 8.5% in the fourth quarter. Northern Trust Corp now owns 1,738,277 shares of the industrial products company's stock valued at $18,843,000 after purchasing an additional 135,989 shares in the last quarter. Finally, Amundi grew its stake in O-I Glass by 212.9% in the fourth quarter. Amundi now owns 95,302 shares of the industrial products company's stock valued at $996,000 after purchasing an additional 64,844 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.