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

O-I Glass, Inc. (NYSE:OI) has earned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $15.38.

OI has been the topic of several analyst reports. Citigroup reduced their price target on O-I Glass from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company decreased their target price on shares of O-I Glass from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. 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. Barclays decreased their price objective on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Finally, Bank of America raised their price target on O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, January 6th.

O-I Glass Stock Performance

OI stock opened at $10.43 on Monday. The stock’s 50 day simple moving average is $11.45 and its 200 day simple moving average is $11.94. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18. O-I Glass has a 12-month low of $9.85 and a 12-month high of $17.58. The stock has a market capitalization of $1.61 billion, a PE ratio of -3.78 and a beta of 1.21.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.08). O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the firm earned $0.80 earnings per share. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, research analysts forecast that O-I Glass will post 0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On O-I Glass

A number of hedge funds have recently added to or reduced their stakes in the stock. Everence Capital Management Inc. increased its position in O-I Glass by 6.1% during the 3rd quarter. Everence Capital Management Inc. now owns 15,550 shares of the industrial products company’s stock valued at $204,000 after purchasing an additional 890 shares during the period. Diversified Trust Co lifted its holdings in O-I Glass by 2.0% during the third quarter. Diversified Trust Co now owns 49,596 shares of the industrial products company’s stock worth $651,000 after buying an additional 965 shares during the period. Nisa Investment Advisors LLC boosted its position in O-I Glass by 28.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 1,136 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of 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 valued at $224,000 after acquiring an additional 1,162 shares during the period. Finally, KBC Group NV raised its position in shares of 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 worth $71,000 after acquiring an additional 1,521 shares in the last quarter. 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.