Analysts Set O-I Glass, Inc. (NYSE:OI) Price Target at $15.38

O-I Glass, Inc. (NYSE:OI) has been assigned an average rating of “Moderate Buy” from the eight research firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $15.38.

Several research firms have recently weighed in on OI. Bank of America raised their price target on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Royal Bank of Canada decreased their price target on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Citigroup decreased their price target on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Finally, Wells Fargo & Company decreased their price target on shares of O-I Glass from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th.

Hedge Funds Weigh In On O-I Glass

Institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new stake in shares of O-I Glass during the third quarter valued at about $27,000. GAMMA Investing LLC increased its position in shares of O-I Glass by 371.0% during the third quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 1,892 shares during the last quarter. R Squared Ltd acquired a new stake in shares of O-I Glass during the fourth quarter valued at about $45,000. Sterling Capital Management LLC increased its position in shares of O-I Glass by 807.2% during the fourth quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 4,343 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of O-I Glass by 28.4% during the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 1,136 shares during the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.

O-I Glass Stock Performance

OI opened at $11.70 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -16.47, a PEG ratio of 0.23 and a beta of 1.22. O-I Glass has a 52-week low of $9.85 and a 52-week high of $17.58. The firm’s fifty day simple moving average is $10.97 and its two-hundred day simple moving average is $11.95.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share 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%. Equities analysts anticipate that O-I Glass will post 1.36 earnings per share for the current fiscal year.

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.