O-I Glass (NYSE:OI) Given a $21.00 Price Target by Truist Financial Analysts

O-I Glass (NYSE:OI - Get Free Report) has been assigned a $21.00 price objective by investment analysts at Truist Financial in a report released on Friday, MarketBeat reports. The firm presently has a "buy" rating on the industrial products company's stock. Truist Financial's price objective would indicate a potential upside of 37.93% from the stock's current price.

OI has been the topic of a number of other reports. Bank of America reissued a "neutral" rating and set a $17.00 price objective (up from $15.00) on shares of O-I Glass in a report on Wednesday, July 9th. Barclays increased their price objective on O-I Glass from $13.00 to $14.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Citigroup increased their price target on shares of O-I Glass from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. 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 target price on the stock. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $16.00 price target on shares of O-I Glass in a research note on Monday, March 17th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $17.30.

O-I Glass Stock Performance

O-I Glass stock traded down $0.19 during mid-day trading on Friday, reaching $15.23. 1,556,664 shares of the company's stock were exchanged, compared to its average volume of 1,524,045. The firm has a market capitalization of $2.36 billion, a PE ratio of -12.08, a P/E/G ratio of 0.31 and a beta of 0.97. O-I Glass has a one year low of $9.23 and a one year high of $16.04. The company has a quick ratio of 0.73, a current ratio of 1.24 and a debt-to-equity ratio of 3.83. The business's fifty day simple moving average is $13.99 and its 200 day simple moving average is $12.22.

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 (EPS) 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 analysts' expectations of $1.55 billion. O-I Glass had a positive return on equity of 8.48% and a negative net margin of 2.98%. The firm's quarterly revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 EPS. On average, sell-side analysts expect that O-I Glass will post 1.33 earnings per share for the current year.

Institutional Investors Weigh In On O-I Glass

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in shares of O-I Glass by 31.7% during the second quarter. GAMMA Investing LLC now owns 3,403 shares of the industrial products company's stock valued at $50,000 after buying an additional 820 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake 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 valued at $465,000 after purchasing an additional 916 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of O-I Glass by 1.5% in the first quarter. Russell Investments Group Ltd. now owns 70,572 shares of the industrial products company's stock valued at $809,000 after purchasing an additional 1,074 shares during the period. SummerHaven Investment Management LLC raised its stake in shares of O-I Glass by 1.6% in the first quarter. SummerHaven Investment Management LLC now owns 75,226 shares of the industrial products company's stock worth $863,000 after purchasing an additional 1,204 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in shares of O-I Glass by 9.6% during the fourth quarter. Baird Financial Group Inc. now owns 16,152 shares of the industrial products company's stock worth $175,000 after purchasing an additional 1,410 shares during the period. 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.