O-I Glass, Inc. (NYSE:OI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of O-I Glass, Inc. (NYSE:OI) have received a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $15.38.

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Bank of America raised their price objective on O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Royal Bank of Canada lowered their price objective on 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 reduced their target price on O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Finally, Citigroup lowered 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 report on Monday, January 6th.

Institutional Trading of O-I Glass

Several large investors have recently added to or reduced their stakes in OI. Harbor Capital Advisors Inc. bought a new stake in O-I Glass during the 3rd quarter worth approximately $27,000. GAMMA Investing LLC grew its holdings 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 worth $32,000 after purchasing an additional 1,892 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in shares of O-I Glass by 1,337.5% in the second quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock valued at $32,000 after buying an additional 2,675 shares in the last quarter. R Squared Ltd bought a new position in shares of O-I Glass in the fourth quarter valued at about $45,000. Finally, Nisa Investment Advisors LLC lifted its position in 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 buying an additional 1,136 shares in the last quarter. 97.24% of the stock is owned by institutional investors.

O-I Glass Price Performance

NYSE OI opened at $11.12 on Monday. The stock has a 50-day simple moving average of $11.23 and a 200 day simple moving average of $11.95. O-I Glass has a twelve month low of $9.85 and a twelve month high of $17.58. The stock has a market capitalization of $1.72 billion, a PE ratio of -4.03 and a beta of 1.21. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.77 and a current ratio of 1.23.

O-I Glass (NYSE:OI) last issued 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). The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 earnings per share. Research analysts anticipate that O-I Glass will post 0.75 EPS 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.