O-I Glass, Inc. (NYSE:OI) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of O-I Glass, Inc. (NYSE:OI) have earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $16.25.

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada reduced 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 report on Friday, November 1st. Wells Fargo & Company decreased their target price on shares of O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. UBS Group dropped their price target on O-I Glass from $26.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Bank of America upgraded O-I Glass from a “neutral” rating to a “buy” rating and upped their price objective for the company from $14.00 to $16.00 in a research report on Thursday, October 17th. Finally, Barclays dropped their target price on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st.

O-I Glass Stock Down 2.8 %

OI opened at $13.00 on Wednesday. The company has a market capitalization of $2.01 billion, a PE ratio of -4.71 and a beta of 1.20. The firm has a 50-day simple moving average of $12.64 and a two-hundred day simple moving average of $12.28. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18. O-I Glass has a 52 week low of $10.08 and a 52 week high of $17.58.

O-I Glass (NYSE:OI) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the company posted $0.80 earnings per share. O-I Glass’s quarterly revenue was down 3.7% on a year-over-year basis. Analysts forecast that O-I Glass will post 0.75 earnings per share for the current fiscal year.

Institutional Trading of O-I Glass

A number of hedge funds and other institutional investors have recently bought and sold shares of OI. Fidelis Capital Partners LLC bought a new position in shares of O-I Glass in the first quarter worth about $33,000. Harbor Capital Advisors Inc. bought a new stake in shares of O-I Glass during the third quarter valued at approximately $27,000. Headlands Technologies LLC bought a new stake in shares of O-I Glass during the first quarter valued at approximately $39,000. GAMMA Investing LLC grew its stake in O-I Glass by 371.0% in the third quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 1,892 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. increased its holdings in O-I Glass by 1,337.5% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 2,675 shares during the period. Hedge funds and other institutional investors own 97.24% of the company’s stock.

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.