O-I Glass (NYSE:OI) Trading 6.5% Higher - Should You Buy?

O-I Glass, Inc. (NYSE:OI - Get Free Report)'s share price rose 6.5% during mid-day trading on Wednesday . The stock traded as high as $11.37 and last traded at $11.32. Approximately 109,975 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 1,394,960 shares. The stock had previously closed at $10.63.

Analysts Set New Price Targets

OI has been the topic of several recent research reports. StockNews.com upgraded O-I Glass from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Bank of America raised their target price on O-I Glass from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Citigroup dropped their price target on O-I Glass from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Finally, Wells Fargo & Company dropped their price target on O-I Glass from $18.00 to $16.00 and set an "overweight" rating on the stock in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, O-I Glass presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.38.

O-I Glass Price Performance

The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 3.78. The company has a 50 day moving average price of $11.17 and a 200 day moving average price of $11.92. The company has a market capitalization of $1.82 billion, a P/E ratio of -16.68, a P/E/G ratio of 0.24 and a beta of 1.20.

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O-I Glass (NYSE:OI - Get Free Report) last issued its earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.02. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. On average, equities analysts predict that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

Institutional Trading of O-I Glass

Institutional investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. bought a new stake in O-I Glass in the 3rd quarter valued at $27,000. R Squared Ltd bought a new stake in O-I Glass in the 4th quarter valued at $45,000. Sterling Capital Management LLC boosted its stake in O-I Glass by 807.2% in the 4th quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 4,343 shares during the period. KBC Group NV boosted its stake in O-I Glass by 38.9% in the 3rd quarter. KBC Group NV now owns 5,431 shares of the industrial products company's stock valued at $71,000 after purchasing an additional 1,521 shares during the period. Finally, Quest Partners LLC bought a new stake in O-I Glass in the 3rd quarter valued at $77,000. 97.24% of the stock is currently owned by institutional investors.

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.