O-I Glass, Inc. (NYSE:OI - Get Free Report)'s stock price was up 3.5% on Tuesday . The stock traded as high as $10.81 and last traded at $10.79. Approximately 90,624 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 1,651,398 shares. The stock had previously closed at $10.43.
Analyst Ratings Changes
Several research analysts have commented on the stock. Royal Bank of Canada decreased their price objective 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. Barclays decreased their price target on shares of O-I Glass from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Thursday, October 31st. StockNews.com raised O-I Glass from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. Citigroup upped their target price on O-I Glass from $14.00 to $15.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. Finally, Bank of America upgraded O-I Glass from a "neutral" rating to a "buy" rating and raised their target price for the company from $14.00 to $16.00 in a research note on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, O-I Glass currently has an average rating of "Moderate Buy" and an average price target of $16.25.
Read Our Latest Research Report on OI
O-I Glass Price Performance
The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18. The company has a market cap of $1.68 billion, a PE ratio of -3.93 and a beta of 1.20. The firm has a 50 day moving average of $11.87 and a two-hundred day moving average of $11.99.
O-I Glass (NYSE:OI - Get Free Report) last released its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.08). The company had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.76 billion. O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The company's revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.80 earnings per share. Research analysts predict that O-I Glass, Inc. will post 0.76 earnings per share for the current fiscal year.
Hedge Funds Weigh In On O-I Glass
A number of hedge funds have recently added to or reduced their stakes in OI. Harbor Capital Advisors Inc. purchased a new position in O-I Glass in the 3rd quarter worth about $27,000. GAMMA Investing LLC raised its holdings in shares of O-I Glass by 371.0% during the third quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 1,892 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its position in O-I Glass by 1,337.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 2,675 shares during the period. Nisa Investment Advisors LLC lifted its position in O-I Glass by 28.4% during the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company's stock valued at $67,000 after purchasing an additional 1,136 shares during the period. Finally, KBC Group NV boosted its holdings in O-I Glass by 38.9% in the third quarter. KBC Group NV now owns 5,431 shares of the industrial products company's stock worth $71,000 after purchasing an additional 1,521 shares during the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.
About O-I Glass
(
Get Free Report)
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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