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

O-I Glass, Inc. (NYSE:OI) has been given a consensus rating of “Moderate Buy” by the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $15.38.

Several brokerages have recently commented on OI. Royal Bank of Canada reissued an “outperform” rating and issued a $16.00 price objective on shares of O-I Glass in a research note on Monday, March 17th. Bank of America increased their price target on O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Wells Fargo & Company dropped their price objective on 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. Finally, Citigroup reduced their target price on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, January 6th.

O-I Glass Price Performance

Shares of NYSE:OI opened at $10.53 on Friday. O-I Glass has a twelve month low of $9.85 and a twelve month high of $16.19. The stock’s 50 day moving average is $11.60 and its 200-day moving average is $11.82. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -14.82, a PEG ratio of 0.24 and a beta of 0.98.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share for the quarter, topping the consensus estimate 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 forecast that O-I Glass will post 1.33 EPS for the current fiscal year.

Institutional Trading of O-I Glass

A number of large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in shares of O-I Glass by 18.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company’s stock valued at $8,130,000 after acquiring an additional 94,671 shares during the period. Victory Capital Management Inc. lifted its stake in O-I Glass by 57.1% in the fourth quarter. Victory Capital Management Inc. now owns 139,302 shares of the industrial products company’s stock valued at $1,510,000 after purchasing an additional 50,641 shares during the last quarter. Barclays PLC grew its holdings in O-I Glass by 349.3% during the third quarter. Barclays PLC now owns 261,161 shares of the industrial products company’s stock valued at $3,427,000 after purchasing an additional 203,037 shares during the period. Amundi increased its position in O-I Glass by 212.9% in the fourth quarter. Amundi now owns 95,302 shares of the industrial products company’s stock worth $996,000 after buying an additional 64,844 shares during the last quarter. Finally, Highland Peak Capital LLC raised its stake in shares of O-I Glass by 87.5% in the fourth quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company’s stock valued at $42,029,000 after buying an additional 1,809,237 shares during the period. Hedge funds and other institutional investors own 97.24% of the company’s stock.

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.