O-I Glass, Inc. (NYSE:OI) Given Average Rating of "Moderate Buy" by Brokerages

O-I Glass, Inc. (NYSE:OI - Get Free Report) has been given an average rating of "Moderate Buy" by the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $15.38.

OI has been the topic of a number of analyst reports. Barclays reduced their target price on shares of O-I Glass from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 31st. StockNews.com upgraded shares of O-I Glass from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Royal Bank of Canada lowered their price target on shares of O-I Glass from $18.00 to $16.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Wells Fargo & Company lowered their target price on shares of O-I Glass from $18.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, January 6th. Finally, Bank of America upped their target price on shares of O-I Glass from $14.00 to $15.00 and gave the company a "buy" rating in a report on Monday, January 6th.

Hedge Funds Weigh In On O-I Glass

A number of institutional investors and hedge funds have recently made changes to their positions in OI. Segall Bryant & Hamill LLC acquired a new stake in O-I Glass in the 3rd quarter valued at about $32,350,000. Highland Peak Capital LLC acquired a new stake in O-I Glass in the 3rd quarter valued at about $27,132,000. Cooper Creek Partners Management LLC grew its stake in O-I Glass by 18.2% in the 4th quarter. Cooper Creek Partners Management LLC now owns 11,082,262 shares of the industrial products company's stock valued at $120,132,000 after acquiring an additional 1,705,216 shares during the last quarter. Millennium Management LLC boosted its stake in shares of O-I Glass by 251.7% during the 4th quarter. Millennium Management LLC now owns 1,458,102 shares of the industrial products company's stock worth $15,806,000 after purchasing an additional 1,043,570 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. acquired a new stake in shares of O-I Glass during the 4th quarter worth about $10,885,000. 97.24% of the stock is owned by institutional investors and hedge funds.

O-I Glass Price Performance

Shares of NYSE OI traded down $0.12 during trading on Friday, hitting $11.58. The company had a trading volume of 771,343 shares, compared to its average volume of 1,489,272. The stock has a fifty day simple moving average of $10.97 and a two-hundred day simple moving average of $11.95. O-I Glass has a fifty-two week low of $9.85 and a fifty-two week high of $17.58. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -16.31, a price-to-earnings-growth ratio of 0.23 and a beta of 1.22. The company has a quick ratio of 0.77, a current ratio of 1.15 and a debt-to-equity ratio of 3.78.

O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share 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%. On average, research analysts expect that O-I Glass will post 1.36 earnings per share for the current year.

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.