O-I Glass (NYSE:OI) Earns “Outperform” Rating from Royal Bank of Canada

O-I Glass (NYSE:OI)‘s stock had its “outperform” rating reiterated by analysts at Royal Bank of Canada in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $16.00 price target on the industrial products company’s stock. Royal Bank of Canada’s target price points to a potential upside of 32.84% from the company’s current price.

Other analysts have also issued reports about the stock. Citigroup reduced 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 research note on Monday, January 6th. Bank of America upped their price target on shares of O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Wells Fargo & Company lowered their price objective on shares of O-I Glass from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.38.

O-I Glass Price Performance

OI traded up $0.38 on Monday, reaching $12.05. The company had a trading volume of 195,651 shares, compared to its average volume of 1,453,362. O-I Glass has a one year low of $9.85 and a one year high of $17.58. The company has a market capitalization of $1.86 billion, a P/E ratio of -16.87, a PEG ratio of 0.24 and a beta of 1.20. The company has a fifty day moving average of $11.24 and a 200-day moving average of $11.88. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 3.78.

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

Institutional Trading of O-I Glass

Several institutional investors have recently made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp boosted its position in O-I Glass by 2.2% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 42,900 shares of the industrial products company’s stock valued at $465,000 after buying an additional 916 shares in the last quarter. Baird Financial Group Inc. raised its stake in shares of O-I Glass by 9.6% in the fourth quarter. Baird Financial Group Inc. now owns 16,152 shares of the industrial products company’s stock valued at $175,000 after acquiring an additional 1,410 shares during the last quarter. KBC Group NV boosted its holdings 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 worth $71,000 after acquiring an additional 1,521 shares in the last quarter. Corient Private Wealth LLC grew its position in O-I Glass by 13.4% during the 4th quarter. Corient Private Wealth LLC now owns 16,544 shares of the industrial products company’s stock worth $179,000 after acquiring an additional 1,954 shares during the last quarter. Finally, Guggenheim Capital LLC increased its holdings in O-I Glass by 9.9% during the 4th quarter. Guggenheim Capital LLC now owns 22,777 shares of the industrial products company’s stock valued at $247,000 after purchasing an additional 2,044 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.

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.