O-I Glass, Inc. (NYSE:OI) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of O-I Glass, Inc. (NYSE:OI) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $16.25.

A number of research analysts recently weighed in on OI shares. StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Royal Bank of Canada dropped their price objective on O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Bank of America raised O-I Glass from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $16.00 in a report on Thursday, October 17th. Citigroup upped their target price on O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Barclays lowered their target price on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st.

O-I Glass Trading Down 0.7 %

OI opened at $12.60 on Friday. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -4.57 and a beta of 1.20. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18. The business’s 50 day moving average is $12.69 and its two-hundred day moving average is $12.21. O-I Glass has a 52 week low of $10.08 and a 52 week high of $17.58.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.08). O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the company earned $0.80 EPS. O-I Glass’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, research analysts predict that O-I Glass will post 0.76 EPS for the current year.

Institutional Investors Weigh In On O-I Glass

A number of hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new position in shares of O-I Glass in the 3rd quarter worth approximately $263,000. Geode Capital Management LLC grew its position in shares of O-I Glass by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,568,443 shares of the industrial products company’s stock worth $46,827,000 after acquiring an additional 37,238 shares in the last quarter. Barclays PLC grew its position in shares of O-I Glass by 349.3% in the 3rd quarter. Barclays PLC now owns 261,161 shares of the industrial products company’s stock worth $3,427,000 after acquiring an additional 203,037 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of O-I Glass in the 3rd quarter worth approximately $148,000. Finally, Villanova Investment Management Co LLC grew its position in shares of O-I Glass by 8.6% in the 3rd quarter. Villanova Investment Management Co LLC now owns 109,272 shares of the industrial products company’s stock worth $1,434,000 after acquiring an additional 8,643 shares in the last quarter. Institutional investors and hedge funds own 97.24% of the company’s stock.

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.