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

O-I Glass, Inc. (NYSE:OI) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, 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 target among analysts that have issued a report on the stock in the last year is $16.25.

Several research analysts have issued reports on OI shares. StockNews.com upgraded O-I Glass from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Barclays cut 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. Bank of America upgraded shares of 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. Royal Bank of Canada dropped their price objective on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, Citigroup boosted their target price on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd.

Hedge Funds Weigh In On O-I Glass

Several institutional investors have recently bought and sold shares of OI. Segall Bryant & Hamill LLC purchased a new position in shares of O-I Glass during the third quarter valued at $32,350,000. Highland Peak Capital LLC purchased a new position in shares of O-I Glass in the 3rd quarter valued at approximately $27,132,000. Levin Capital Strategies L.P. lifted its stake in shares of O-I Glass by 25.0% during the second quarter. Levin Capital Strategies L.P. now owns 3,511,413 shares of the industrial products company’s stock worth $39,082,000 after buying an additional 703,308 shares during the period. Dimensional Fund Advisors LP lifted its position in O-I Glass by 8.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,093,723 shares of the industrial products company’s stock worth $78,952,000 after acquiring an additional 573,300 shares during the period. Finally, Private Management Group Inc. raised its stake in shares of O-I Glass by 20.8% in the third quarter. Private Management Group Inc. now owns 3,025,731 shares of the industrial products company’s stock worth $39,698,000 after purchasing an additional 520,452 shares during the last quarter. Institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Up 0.6 %

Shares of NYSE:OI opened at $10.20 on Thursday. The business has a fifty day simple moving average of $12.10 and a 200 day simple moving average of $12.04. O-I Glass has a 12-month low of $9.85 and a 12-month high of $17.58. The firm has a market cap of $1.58 billion, a P/E ratio of -3.70 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.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (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 firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the business posted $0.80 EPS. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. Analysts predict that O-I Glass will post 0.76 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.