O-I Glass (NYSE:OI) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of O-I Glass (NYSE:OI) in a research note released on Monday morning,Benzinga reports. The brokerage currently has a $16.00 target price on the industrial products company’s stock.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company dropped their price objective 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. Citigroup dropped their price objective on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, Bank of America raised their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $15.38.

O-I Glass Stock Performance

Shares of O-I Glass stock opened at $12.06 on Monday. The company has a debt-to-equity ratio of 3.78, a current ratio of 1.15 and a quick ratio of 0.70. The firm has a market cap of $1.86 billion, a P/E ratio of -16.98, a P/E/G ratio of 0.24 and a beta of 1.20. The firm has a 50 day simple moving average of $11.24 and a 200 day simple moving average of $11.88. O-I Glass has a fifty-two week low of $9.85 and a fifty-two week high of $17.58.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. Sell-side analysts predict that O-I Glass will post 1.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On O-I Glass

Several institutional investors and hedge funds have recently added to or reduced their stakes in OI. GSA Capital Partners LLP acquired a new position in O-I Glass in the 3rd quarter valued at approximately $461,000. KBC Group NV boosted its stake in O-I Glass by 38.9% during the third 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. Natixis Advisors LLC bought a new position in O-I Glass during the third quarter worth $218,000. Quest Partners LLC bought a new position in O-I Glass during the third quarter worth $77,000. Finally, Segall Bryant & Hamill LLC bought a new position in O-I Glass during the third quarter worth $32,350,000. 97.24% of the stock is currently owned by institutional investors and hedge funds.

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.