O-I Glass, Inc. (NYSE:OI) Receives $16.25 Average PT from Analysts

O-I Glass, Inc. (NYSE:OI - Get Free Report) has received an average recommendation of "Moderate Buy" from the eight brokerages that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $16.25.

Several research firms have recently weighed in on OI. Barclays dropped 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 report on Thursday, October 31st. Citigroup lifted their price target on O-I Glass from $14.00 to $15.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. Truist Financial reissued a "buy" rating and issued a $16.00 price objective (down from $17.00) on shares of O-I Glass in a research note on Thursday, August 1st. StockNews.com cut O-I Glass from a "hold" rating to a "sell" rating in a research note on Monday. Finally, Wells Fargo & Company dropped their price target on shares of O-I Glass from $19.00 to $18.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 17th.

Hedge Funds Weigh In On O-I Glass

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Everence Capital Management Inc. raised its stake in O-I Glass by 6.1% during the third quarter. Everence Capital Management Inc. now owns 15,550 shares of the industrial products company's stock worth $204,000 after acquiring an additional 890 shares in the last quarter. Diversified Trust Co lifted its holdings in O-I Glass by 2.0% during the 3rd quarter. Diversified Trust Co now owns 49,596 shares of the industrial products company's stock valued at $651,000 after purchasing an additional 965 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in O-I Glass by 28.4% in the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company's stock valued at $67,000 after buying an additional 1,136 shares in the last quarter. Mackenzie Financial Corp grew its stake in O-I Glass by 6.1% during the second quarter. Mackenzie Financial Corp now owns 20,091 shares of the industrial products company's stock worth $224,000 after buying an additional 1,162 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of O-I Glass by 40.2% during the first quarter. Bessemer Group Inc. now owns 4,597 shares of the industrial products company's stock worth $76,000 after buying an additional 1,318 shares in the last quarter. 97.24% of the stock is owned by institutional investors.

O-I Glass Stock Up 7.8 %

Shares of OI stock traded up $0.93 during mid-day trading on Wednesday, hitting $12.88. 2,999,705 shares of the stock traded hands, compared to its average volume of 1,700,074. O-I Glass has a twelve month low of $10.08 and a twelve month high of $17.58. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18. The company's 50-day simple moving average is $12.61 and its 200-day simple moving average is $12.35.

O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.08). O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the business posted $0.80 EPS. The business's revenue for the quarter was down 3.7% on a year-over-year basis. Equities research analysts forecast that O-I Glass will post 0.75 EPS 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.