O-I Glass, Inc. (NYSE:OI) Receives $19.56 Average Price Target from Analysts

Shares of O-I Glass, Inc. (NYSE:OI) have earned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $18.89.

Several analysts have issued reports on OI shares. Barclays lowered their target price on shares of O-I Glass from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Monday, May 6th. Bank of America reiterated a “neutral” rating and issued a $16.00 target price (down from $21.00) on shares of O-I Glass in a research note on Friday, April 19th. StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a research note on Friday, June 14th. Citigroup lowered their target price on shares of O-I Glass from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Royal Bank of Canada lowered their price objective on shares of O-I Glass from $25.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd.

Institutional Investors Weigh In On O-I Glass

A number of large investors have recently modified their holdings of OI. Qube Research & Technologies Ltd increased its stake in shares of O-I Glass by 114.7% during the third quarter. Qube Research & Technologies Ltd now owns 337,625 shares of the industrial products company’s stock worth $5,648,000 after buying an additional 180,374 shares during the period. Schonfeld Strategic Advisors LLC increased its stake in shares of O-I Glass by 378.2% during the third quarter. Schonfeld Strategic Advisors LLC now owns 63,116 shares of the industrial products company’s stock worth $1,056,000 after buying an additional 49,916 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of O-I Glass during the third quarter worth approximately $494,000. Seven Eight Capital LP increased its stake in shares of O-I Glass by 769.9% during the third quarter. Seven Eight Capital LP now owns 83,312 shares of the industrial products company’s stock worth $1,394,000 after buying an additional 73,735 shares during the period. Finally, Diversified Trust Co increased its stake in shares of O-I Glass by 247.0% during the third quarter. Diversified Trust Co now owns 37,906 shares of the industrial products company’s stock worth $634,000 after buying an additional 26,983 shares during the period. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Price Performance

OI stock opened at $10.45 on Thursday. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of -6.57, a PEG ratio of 1.03 and a beta of 1.24. The company has a quick ratio of 0.56, a current ratio of 1.02 and a debt-to-equity ratio of 2.26. O-I Glass has a 12-month low of $10.43 and a 12-month high of $23.57. The company’s fifty day simple moving average is $12.22 and its 200 day simple moving average is $14.57.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.09. O-I Glass had a negative net margin of 3.45% and a positive return on equity of 18.25%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the prior year, the business earned $1.29 earnings per share. The business’s quarterly revenue was down 13.0% compared to the same quarter last year. On average, analysts expect that O-I Glass will post 1.67 earnings per share for the current 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.