O-I Glass (NYSE:OI) Stock Price Up 6.5% – Here’s What Happened

O-I Glass, Inc. (NYSE:OI)’s stock price was up 6.5% during trading on Wednesday . The company traded as high as $11.37 and last traded at $11.32. Approximately 109,975 shares traded hands during trading, a decline of 92% from the average daily volume of 1,394,960 shares. The stock had previously closed at $10.63.

Wall Street Analyst Weigh In

OI has been the subject of a number of recent research reports. Citigroup cut their price objective on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Wells Fargo & Company cut their price target on O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. StockNews.com upgraded O-I Glass from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Bank of America upped their target price on O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.38.

O-I Glass Stock Up 6.3 %

The firm has a 50-day simple moving average of $11.08 and a 200 day simple moving average of $11.93. The stock has a market capitalization of $1.74 billion, a P/E ratio of -15.89, a P/E/G ratio of 0.24 and a beta of 1.20. The company has a debt-to-equity ratio of 3.78, a current ratio of 1.15 and a quick ratio of 0.70.

O-I Glass (NYSE:OI) last posted its earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.02. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. On average, equities research analysts forecast that O-I Glass, Inc. will post 1.33 EPS for the current year.

Institutional Trading of O-I Glass

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. bought a new position in shares of O-I Glass in the 3rd quarter worth about $27,000. R Squared Ltd acquired a new stake in O-I Glass during the fourth quarter worth approximately $45,000. Sterling Capital Management LLC increased its holdings in O-I Glass by 807.2% in the fourth quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 4,343 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of O-I Glass by 28.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 1,136 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of O-I Glass by 38.9% in the 3rd quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock valued at $71,000 after buying an additional 1,521 shares during the period. Institutional investors and hedge funds own 97.24% of the company’s stock.

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.