O-I Glass (NYSE:OI) Raised to Buy at Wall Street Zen

O-I Glass (NYSE:OI) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other equities analysts have also recently commented on OI. Zacks Research cut shares of O-I Glass from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. Wells Fargo & Company raised their target price on shares of O-I Glass from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of O-I Glass in a research note on Wednesday, October 8th. Finally, Truist Financial lowered their price target on shares of O-I Glass from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $16.67.

O-I Glass Trading Down 2.5%

O-I Glass stock opened at $12.88 on Friday. The stock has a 50-day simple moving average of $12.52 and a 200 day simple moving average of $13.31. The stock has a market capitalization of $1.98 billion, a P/E ratio of -7.80, a PEG ratio of 0.22 and a beta of 0.89. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.77 and a current ratio of 1.24. O-I Glass has a 52 week low of $9.23 and a 52 week high of $16.04.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Wednesday, March 1st. The industrial products company reported $0.36 earnings per share (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 company had revenue of $1.59 billion during the quarter. Analysts expect that O-I Glass will post 1.33 earnings per share for the current year.

Hedge Funds Weigh In On O-I Glass

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of O-I Glass by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 19,349,218 shares of the industrial products company’s stock worth $250,959,000 after purchasing an additional 691,989 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of O-I Glass by 14.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 163,369 shares of the industrial products company’s stock valued at $2,119,000 after buying an additional 20,576 shares during the period. Public Sector Pension Investment Board boosted its stake in shares of O-I Glass by 29.1% in the third quarter. Public Sector Pension Investment Board now owns 680,559 shares of the industrial products company’s stock valued at $8,827,000 after buying an additional 153,199 shares during the period. Illinois Municipal Retirement Fund grew its position in O-I Glass by 7.1% during the third quarter. Illinois Municipal Retirement Fund now owns 83,223 shares of the industrial products company’s stock worth $1,079,000 after buying an additional 5,482 shares in the last quarter. Finally, Bryce Point Capital LLC bought a new position in O-I Glass during the 3rd quarter worth $533,000. 97.24% of the stock is owned by institutional investors.

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.