O-I Glass, Inc. (NYSE:OI) Given Average Rating of “Moderate Buy” by Analysts

Shares of O-I Glass, Inc. (NYSE:OI) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $16.25.

Several equities analysts recently issued reports on the company. Citigroup lowered their price target on O-I Glass from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday, July 8th. Royal Bank of Canada lowered their price objective on O-I Glass from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Wells Fargo & Company reduced their target price on O-I Glass from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Barclays reduced their price objective on shares of O-I Glass from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st.

Insider Buying and Selling

In other news, Director John Humphrey bought 15,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $11.30 per share, for a total transaction of $169,500.00. Following the completion of the purchase, the director now owns 84,227 shares of the company’s stock, valued at approximately $951,765.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.49% of the stock is currently owned by corporate insiders.

Institutional Trading of O-I Glass

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fidelis Capital Partners LLC acquired a new position in O-I Glass during the 1st quarter worth about $33,000. TFO Wealth Partners LLC lifted its position in shares of O-I Glass by 24,311.1% during the fourth quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 2,188 shares in the last quarter. FinTrust Capital Advisors LLC bought a new stake in shares of O-I Glass during the first quarter valued at approximately $38,000. Headlands Technologies LLC acquired a new stake in shares of O-I Glass in the first quarter valued at approximately $39,000. Finally, Newbridge Financial Services Group Inc. raised its position in O-I Glass by 1,337.5% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 2,675 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.

O-I Glass Stock Up 1.7 %

OI opened at $12.92 on Tuesday. The business has a 50 day moving average of $11.93 and a 200-day moving average of $13.18. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -8.13, a P/E/G ratio of 1.72 and a beta of 1.17. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 2.85. O-I Glass has a 1-year low of $10.08 and a 1-year high of $18.50.

O-I Glass (NYSE:OI) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. O-I Glass had a negative net margin of 4.32% and a positive return on equity of 15.64%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the firm earned $0.88 EPS. The business’s revenue was down 8.5% on a year-over-year basis. As a group, sell-side analysts anticipate that O-I Glass will post 1.13 earnings per share for the current year.

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.