Truist Financial Issues Pessimistic Forecast for O-I Glass (NYSE:OI) Stock Price

O-I Glass (NYSE:OI - Get Free Report) had its target price decreased by analysts at Truist Financial from $15.00 to $13.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the industrial products company's stock. Truist Financial's target price indicates a potential upside of 15.26% from the company's current price.

OI has been the subject of a number of other reports. Bank of America lifted their price objective on O-I Glass from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Wells Fargo & Company lowered their price target on O-I Glass from $18.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, January 6th. Citigroup lowered their target price on 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, Royal Bank of Canada restated an "outperform" rating and set a $16.00 target price on shares of O-I Glass in a report on Monday, March 17th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $15.00.

O-I Glass Price Performance

OI stock traded up $0.50 during trading on Tuesday, hitting $11.28. The company had a trading volume of 408,247 shares, compared to its average volume of 1,598,022. The company has a market cap of $1.74 billion, a P/E ratio of -15.86, a P/E/G ratio of 0.24 and a beta of 0.98. 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 fifty day moving average price of $11.30 and a two-hundred day moving average price of $11.58. O-I Glass has a fifty-two week low of $9.23 and a fifty-two week high of $15.72.

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

Institutional Trading of O-I Glass

Several institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of O-I Glass by 79.3% in the first quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock valued at $30,000 after buying an additional 1,142 shares in the last quarter. R Squared Ltd bought a new position in shares of O-I Glass in the 4th quarter valued at $45,000. Sterling Capital Management LLC boosted its stake in shares of O-I Glass by 807.2% during the fourth 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 in the last quarter. KBC Group NV grew its holdings in O-I Glass by 42.5% during the 4th quarter. KBC Group NV now owns 7,740 shares of the industrial products company's stock worth $84,000 after acquiring an additional 2,309 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in shares of O-I Glass in the fourth quarter worth $86,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.