Analysts Set O-I Glass, Inc. (NYSE:OI) Target Price at $19.56

O-I Glass, Inc. (NYSE:OIGet Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $19.56.

Several brokerages have recently issued reports on OI. Barclays reduced their price objective on O-I Glass from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Monday, May 6th. StockNews.com lowered O-I Glass from a “hold” rating to a “sell” rating in a report on Thursday, May 2nd. Bank of America reissued a “neutral” rating and issued a $16.00 target price (down previously from $21.00) on shares of O-I Glass in a report on Friday, April 19th. Truist Financial reissued a “buy” rating and issued a $17.00 target price (down previously from $20.00) on shares of O-I Glass in a report on Thursday, May 2nd. Finally, Royal Bank of Canada dropped their target price on O-I Glass from $25.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd.

Read Our Latest Research Report on O-I Glass

Institutional Trading of O-I Glass

Several institutional investors have recently made changes to their positions in OI. Norges Bank acquired a new position in shares of O-I Glass during the 4th quarter valued at $27,562,000. Van ECK Associates Corp increased its position in shares of O-I Glass by 414.2% in the 3rd quarter. Van ECK Associates Corp now owns 129,826 shares of the industrial products company’s stock worth $2,172,000 after purchasing an additional 104,576 shares during the last quarter. Levin Capital Strategies L.P. increased its position in shares of O-I Glass by 55.0% in the 4th quarter. Levin Capital Strategies L.P. now owns 1,691,765 shares of the industrial products company’s stock worth $27,711,000 after purchasing an additional 600,239 shares during the last quarter. Access Investment Management LLC bought a new stake in shares of O-I Glass in the 4th quarter worth about $4,095,000. Finally, CIBC Private Wealth Group LLC increased its position in shares of O-I Glass by 16.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 751,886 shares of the industrial products company’s stock worth $12,316,000 after purchasing an additional 104,138 shares during the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.

O-I Glass Price Performance

OI stock opened at $11.73 on Friday. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.02 and a quick ratio of 0.56. The business has a 50 day simple moving average of $13.68 and a 200-day simple moving average of $15.11. The firm has a market capitalization of $1.83 billion, a PE ratio of -7.38, a price-to-earnings-growth ratio of 1.17 and a beta of 1.27. O-I Glass has a 1 year low of $11.52 and a 1 year high of $23.57.

O-I Glass (NYSE:OIGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. O-I Glass had a positive return on equity of 18.25% and a negative net margin of 3.45%. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the prior year, the firm posted $1.29 earnings per share. The firm’s quarterly revenue was down 13.0% on a year-over-year basis. Equities research analysts anticipate that O-I Glass will post 1.67 earnings per share for the current fiscal year.

About O-I Glass

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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.

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Analyst Recommendations for O-I Glass (NYSE:OI)

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