O-I Glass, Inc. (NYSE:OI) Receives $16.67 Consensus Price Target from Analysts

Shares of O-I Glass, Inc. (NYSE:OI) have been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $16.6667.

A number of analysts have commented on OI shares. Truist Financial reduced their price target on O-I Glass from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of O-I Glass in a report on Wednesday, October 8th. 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, November 6th. Wall Street Zen upgraded shares of O-I Glass from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $14.00 to $17.00 in a research note on Monday.

Institutional Investors Weigh In On O-I Glass

A number of institutional investors and hedge funds have recently bought and sold shares of OI. Headlands Technologies LLC purchased a new stake in shares of O-I Glass during the second quarter worth about $29,000. Caitong International Asset Management Co. Ltd purchased a new position in O-I Glass in the 1st quarter worth approximately $30,000. Smartleaf Asset Management LLC boosted its stake in O-I Glass by 64.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 918 shares during the period. State of Wyoming purchased a new stake in O-I Glass during the 2nd quarter valued at approximately $35,000. Finally, GAMMA Investing LLC raised its position in shares of O-I Glass by 31.7% during the second quarter. GAMMA Investing LLC now owns 3,403 shares of the industrial products company’s stock valued at $50,000 after buying an additional 820 shares during the last quarter. 97.24% of the stock is owned by institutional investors.

O-I Glass Stock Up 0.1%

OI opened at $12.84 on Friday. The firm’s 50 day simple moving average is $12.55 and its two-hundred day simple moving average is $13.33. The company has a market capitalization of $1.97 billion, a PE ratio of -7.78, a PEG ratio of 0.22 and a beta of 0.89. O-I Glass has a 1-year low of $9.23 and a 1-year high of $16.04. The company has a current ratio of 1.24, a quick ratio of 0.77 and a debt-to-equity ratio of 3.58.

O-I Glass (NYSE:OI) last posted its quarterly earnings data 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, equities analysts forecast that O-I Glass will post 1.33 EPS for the current year.

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.