Truist Financial Has Lowered Expectations for O-I Glass (NYSE:OI) Stock Price

O-I Glass (NYSE:OI - Free Report) had its price target reduced by Truist Financial from $15.00 to $13.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the industrial products company's stock.

A number of other analysts have also issued reports on the stock. Bank of America boosted their target price on shares of O-I Glass from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Royal Bank of Canada restated an "outperform" rating and issued a $16.00 target price on shares of O-I Glass in a research note on Monday, March 17th. Wells Fargo & Company decreased their price target on shares of O-I Glass from $18.00 to $16.00 and set an "overweight" rating for the company in a research note on Monday, January 6th. Finally, Citigroup dropped their price objective on O-I Glass from $12.00 to $11.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $15.00.

O-I Glass Price Performance

Shares of O-I Glass stock remained flat at $11.93 during trading on Tuesday. 1,412,030 shares of the stock traded hands, compared to its average volume of 1,610,872. O-I Glass has a 12-month low of $9.23 and a 12-month high of $15.72. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. The company has a 50 day simple moving average of $11.30 and a two-hundred day simple moving average of $11.55. The firm has a market capitalization of $1.85 billion, a PE ratio of -16.80, a PEG ratio of 0.24 and a beta of 0.98.

O-I Glass (NYSE:OI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.02. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. Analysts expect that O-I Glass will post 1.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On O-I Glass

Several institutional investors have recently bought and sold shares of OI. JPMorgan Chase & Co. lifted its holdings in O-I Glass by 18.0% during the third quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company's stock worth $8,130,000 after buying an additional 94,671 shares during the period. Sei Investments Co. lifted its stake in shares of O-I Glass by 112.8% during the 4th quarter. Sei Investments Co. now owns 93,174 shares of the industrial products company's stock worth $1,010,000 after purchasing an additional 49,383 shares during 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 in the last quarter. Barclays PLC grew its stake in O-I Glass by 349.3% in the third quarter. Barclays PLC now owns 261,161 shares of the industrial products company's stock valued at $3,427,000 after purchasing an additional 203,037 shares during the last quarter. Finally, Amundi raised its holdings in O-I Glass by 212.9% in the fourth quarter. Amundi now owns 95,302 shares of the industrial products company's stock worth $996,000 after purchasing an additional 64,844 shares in the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.

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.