O-I Glass, Inc. (NYSE:OI - Get Free Report) rose 5.2% during mid-day trading on Monday . The company traded as high as $12.00 and last traded at $11.70. Approximately 1,045,429 shares changed hands during trading, a decline of 11% from the average daily volume of 1,177,203 shares. The stock had previously closed at $11.12.
Analysts Set New Price Targets
OI has been the subject of a number of recent research reports. Royal Bank of Canada reduced 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 research note on Friday, November 1st. StockNews.com raised O-I Glass from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. Bank of America raised their price objective on O-I Glass from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Barclays reduced their target price on shares of O-I Glass from $14.00 to $13.00 and set an "equal weight" rating for the company in a report on Thursday, October 31st. Finally, Wells Fargo & Company lowered their price target on shares of O-I Glass from $18.00 to $16.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, O-I Glass currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.38.
Read Our Latest Analysis on O-I Glass
O-I Glass Stock 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 $1.81 billion, a PE ratio of -4.24 and a beta of 1.21. The firm's 50-day simple moving average is $11.21 and its two-hundred day simple moving average is $11.96.
O-I Glass (NYSE:OI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.08). The company had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.76 billion. O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. O-I Glass's quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the firm earned $0.80 earnings per share. As a group, research analysts anticipate that O-I Glass, Inc. will post 0.75 earnings per share for the current fiscal year.
Hedge Funds Weigh In On O-I Glass
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Everence Capital Management Inc. lifted its holdings in shares of O-I Glass by 6.1% in the 3rd quarter. Everence Capital Management Inc. now owns 15,550 shares of the industrial products company's stock valued at $204,000 after buying an additional 890 shares during the period. Diversified Trust Co lifted its holdings in O-I Glass by 2.0% in the third quarter. Diversified Trust Co now owns 49,596 shares of the industrial products company's stock valued at $651,000 after acquiring an additional 965 shares during the period. Nisa Investment Advisors LLC boosted its position in O-I Glass by 28.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company's stock worth $67,000 after purchasing an additional 1,136 shares in the last quarter. Mackenzie Financial Corp boosted its position in O-I Glass by 6.1% in the 2nd quarter. Mackenzie Financial Corp now owns 20,091 shares of the industrial products company's stock worth $224,000 after purchasing an additional 1,162 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of O-I Glass by 38.9% during the 3rd 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 period. Institutional investors and hedge funds own 97.24% of the company's stock.
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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