O-I Glass (NYSE:OI) Price Target Raised to $15.00

O-I Glass (NYSE:OI) had its price target boosted by Wells Fargo & Company from $14.00 to $15.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

OI has been the topic of several other research reports. Zacks Research lowered shares of O-I Glass from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. UBS Group reaffirmed a “buy” rating and set a $19.00 price objective (up from $17.00) on shares of O-I Glass in a research report on Wednesday, July 9th. Weiss Ratings restated a “sell (d-)” rating on shares of O-I Glass in a report on Wednesday, October 8th. Bank of America restated a “neutral” rating and set a $17.00 target price (up from $15.00) on shares of O-I Glass in a report on Wednesday, July 9th. Finally, Truist Financial dropped their price objective on O-I Glass from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $16.67.

O-I Glass Trading Down 2.5%

Shares of OI stock opened at $12.88 on Thursday. The company has a current ratio of 1.24, a quick ratio of 0.77 and a debt-to-equity ratio of 3.58. The firm’s fifty day simple moving average is $12.52 and its 200 day simple moving average is $13.29. O-I Glass has a 1 year low of $9.23 and a 1 year high of $16.04. The firm has a market capitalization of $1.98 billion, a P/E ratio of -7.80, a price-to-earnings-growth ratio of 0.22 and a beta of 0.89.

O-I Glass (NYSE:OI) last issued its earnings results on Wednesday, March 1st. The industrial products company reported $0.36 EPS for the quarter. O-I Glass had a positive return on equity of 13.70% and a negative net margin of 3.95%.The firm had revenue of $1.59 billion during the quarter. As a group, sell-side analysts predict that O-I Glass will post 1.33 EPS for the current year.

Institutional Investors Weigh In On O-I Glass

Several large investors have recently added to or reduced their stakes in OI. Vanguard Group Inc. grew its position in O-I Glass by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,349,218 shares of the industrial products company’s stock valued at $250,959,000 after purchasing an additional 691,989 shares during the period. Alliancebernstein L.P. raised its stake in shares of O-I Glass by 194.6% in the second quarter. Alliancebernstein L.P. now owns 7,939,841 shares of the industrial products company’s stock valued at $117,033,000 after buying an additional 5,244,440 shares during the period. Levin Capital Strategies L.P. raised its stake in O-I Glass by 6.0% in the 1st quarter. Levin Capital Strategies L.P. now owns 2,915,106 shares of the industrial products company’s stock valued at $33,436,000 after acquiring an additional 164,669 shares during the period. Private Management Group Inc. lifted its stake in shares of O-I Glass by 1.1% during the 1st quarter. Private Management Group Inc. now owns 2,868,100 shares of the industrial products company’s stock valued at $32,897,000 after buying an additional 29,827 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of O-I Glass by 222.6% during the second quarter. Bank of America Corp DE now owns 2,206,251 shares of the industrial products company’s stock worth $32,520,000 after acquiring an additional 1,522,384 shares in the last quarter. Institutional investors and hedge funds 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.