O-I Glass' (OI) "Outperform" Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of O-I Glass (NYSE:OI - Free Report) in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a $16.00 target price on the industrial products company's stock.

Several other equities research analysts have also recently weighed in on the company. Wells Fargo & Company reduced their price objective on O-I Glass from $18.00 to $16.00 and set an "overweight" rating for the company in a research report on Monday, January 6th. Citigroup reduced their price target on shares of O-I Glass from $12.00 to $11.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Finally, Bank of America boosted their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.38.

O-I Glass Stock Performance

Shares of NYSE:OI traded down $0.28 during trading on Monday, reaching $11.99. The stock had a trading volume of 2,633,614 shares, compared to its average volume of 1,519,831. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. The stock has a fifty day simple moving average of $11.36 and a two-hundred day simple moving average of $11.87. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -16.88, a P/E/G ratio of 0.24 and a beta of 1.20. O-I Glass has a 52 week low of $9.85 and a 52 week high of $17.58.

Remove Ads

O-I Glass (NYSE:OI - Get Free Report) last released its earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates 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%. As a group, analysts anticipate that O-I Glass will post 1.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OI. Cooper Creek Partners Management LLC grew its stake in shares of 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 purchasing an additional 1,705,216 shares during the period. FMR LLC boosted its stake in O-I Glass by 6.9% in the 4th quarter. FMR LLC now owns 10,054,398 shares of the industrial products company's stock valued at $108,990,000 after buying an additional 647,237 shares in the last quarter. Dimensional Fund Advisors LP grew its position in O-I Glass by 9.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,449,472 shares of the industrial products company's stock valued at $80,749,000 after acquiring an additional 617,460 shares during the period. Highland Peak Capital LLC grew its position in O-I Glass by 87.5% in the fourth quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company's stock valued at $42,029,000 after acquiring an additional 1,809,237 shares during the period. Finally, Geode Capital Management LLC raised its stake in O-I Glass by 1.1% during the third quarter. Geode Capital Management LLC now owns 3,568,443 shares of the industrial products company's stock worth $46,827,000 after acquiring an additional 37,238 shares in the last quarter. 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.