Truist Financial Raises O-I Glass (NYSE:OI) Price Target to $21.00

O-I Glass (NYSE:OI - Get Free Report) had its price target raised by equities research analysts at Truist Financial from $16.00 to $21.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the industrial products company's stock. Truist Financial's price target would indicate a potential upside of 36.10% from the company's previous close.

Several other equities analysts have also recently commented on OI. Wall Street Zen upgraded shares of O-I Glass from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. BNP Paribas set a $18.00 price target on shares of O-I Glass in a report on Wednesday, June 25th. Barclays lifted 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 started coverage on shares of O-I Glass in a report on Wednesday, June 25th. They set an "outperform" rating and a $18.00 price target on the stock. Finally, Citigroup lifted their price target on shares of O-I Glass from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.30.

O-I Glass Stock Performance

NYSE:OI traded down $0.10 during mid-day trading on Friday, hitting $15.43. The stock had a trading volume of 1,214,524 shares, compared to its average volume of 1,523,504. O-I Glass has a twelve month low of $9.23 and a twelve month high of $16.04. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of -12.25, a PEG ratio of 0.32 and a beta of 0.97. The company's 50 day simple moving average is $13.99 and its 200 day simple moving average is $12.20. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.73 and a current ratio of 1.24.

O-I Glass (NYSE:OI - Get Free Report) last issued its earnings results 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. The company had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.55 billion. O-I Glass had a negative net margin of 2.98% and a positive return on equity of 8.48%. The business's revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.45 EPS. On average, equities research analysts forecast that O-I Glass will post 1.33 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of OI. GAMMA Investing LLC raised its holdings in O-I Glass by 79.3% during the first 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 last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of O-I Glass in the first quarter worth approximately $30,000. Sterling Capital Management LLC grew its holdings in shares of 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 bought a new position in shares of O-I Glass in the first quarter worth approximately $85,000. Finally, New Age Alpha Advisors LLC bought a new position in shares of O-I Glass in the fourth quarter worth approximately $86,000. Institutional investors and hedge funds own 97.24% of the company's stock.

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.