O-I Glass (NYSE:OI - Get Free Report) was downgraded by analysts at Wells Fargo & Company from an "overweight" rating to an "equal weight" rating in a research note issued on Friday, Marketbeat Ratings reports. They presently have a $15.00 price target on the industrial products company's stock, down from their prior price target of $16.00. Wells Fargo & Company's target price indicates a potential upside of 4.49% from the stock's current price.
Other equities analysts also recently issued research reports about the company. UBS Group restated a "buy" rating and issued a $19.00 target price (up previously from $17.00) on shares of O-I Glass in a research note on Wednesday, July 9th. Bank of America reiterated a "neutral" rating and issued a $17.00 target price (up previously from $15.00) on shares of O-I Glass in a research note on Wednesday, July 9th. Citigroup increased their price objective 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. 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 research note on Friday, May 2nd. Finally, BNP Paribas Exane initiated coverage on shares of O-I Glass in a research report on Wednesday, June 25th. They issued an "outperform" rating and a $18.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $17.20.
Read Our Latest Analysis on O-I Glass
O-I Glass Price Performance
NYSE OI traded up $0.03 during trading hours on Friday, reaching $14.36. 1,152,841 shares of the company's stock were exchanged, compared to its average volume of 1,516,718. O-I Glass has a one year low of $9.23 and a one year high of $16.04. The firm has a fifty day moving average of $14.14 and a 200-day moving average of $12.36. The company has a current ratio of 1.24, a quick ratio of 0.73 and a debt-to-equity ratio of 3.83. The stock has a market cap of $2.22 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 0.29 and a beta of 0.97.
O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.22. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate 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 business's revenue was up .4% compared to the same quarter last year. During the same period last year, the company earned $0.45 earnings per share. On average, equities research analysts predict that O-I Glass will post 1.33 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the company. Natixis Advisors LLC lifted its position in shares of O-I Glass by 55.1% during the 4th quarter. Natixis Advisors LLC now owns 25,812 shares of the industrial products company's stock valued at $280,000 after acquiring an additional 9,175 shares during the last quarter. Corient Private Wealth LLC lifted its stake in shares of O-I Glass by 13.4% in the fourth quarter. Corient Private Wealth LLC now owns 16,544 shares of the industrial products company's stock valued at $179,000 after buying an additional 1,954 shares during the period. Quantbot Technologies LP acquired a new stake in shares of O-I Glass during the 4th quarter valued at about $1,615,000. American Century Companies Inc. grew its stake in shares of O-I Glass by 11.9% in the 4th quarter. American Century Companies Inc. now owns 293,814 shares of the industrial products company's stock valued at $3,185,000 after purchasing an additional 31,200 shares during the period. Finally, 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 worth $1,010,000 after purchasing an additional 49,383 shares during the last quarter. Institutional investors own 97.24% of the company's stock.
About O-I Glass
(
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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.
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