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

O-I Glass, Inc. (NYSE:OI) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $22.67.

A number of analysts have commented on OI shares. TheStreet lowered O-I Glass from a “b-” rating to a “c-” rating in a report on Tuesday, February 6th. UBS Group assumed coverage on O-I Glass in a research note on Tuesday, January 16th. They issued a “buy” rating and a $26.00 target price on the stock. Truist Financial restated a “buy” rating and issued a $20.00 target price on shares of O-I Glass in a research note on Monday, March 25th. Barclays boosted their target price on O-I Glass from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 13th. Finally, StockNews.com downgraded O-I Glass from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th.

Institutional Investors Weigh In On O-I Glass

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Metropolitan Life Insurance Co NY raised its position in shares of O-I Glass by 5.3% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 9,577 shares of the industrial products company’s stock worth $159,000 after buying an additional 485 shares in the last quarter. Neuberger Berman Group LLC raised its position in O-I Glass by 1.4% during the third quarter. Neuberger Berman Group LLC now owns 46,004 shares of the industrial products company’s stock valued at $596,000 after purchasing an additional 656 shares in the last quarter. State of Wyoming raised its position in O-I Glass by 7.8% during the second quarter. State of Wyoming now owns 10,126 shares of the industrial products company’s stock valued at $216,000 after purchasing an additional 730 shares in the last quarter. Belpointe Asset Management LLC raised its position in O-I Glass by 109.4% during the first quarter. Belpointe Asset Management LLC now owns 1,518 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 793 shares in the last quarter. Finally, Stifel Financial Corp raised its position in O-I Glass by 0.4% during the second quarter. Stifel Financial Corp now owns 242,291 shares of the industrial products company’s stock valued at $5,168,000 after purchasing an additional 1,076 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Performance

Shares of O-I Glass stock opened at $14.57 on Friday. O-I Glass has a one year low of $13.56 and a one year high of $23.57. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of -19.43, a PEG ratio of 1.04 and a beta of 1.35. The business has a 50-day simple moving average of $16.16 and a 200 day simple moving average of $15.64. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.23 and a quick ratio of 0.77.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. O-I Glass had a positive return on equity of 24.90% and a negative net margin of 1.45%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the company posted $0.38 EPS. The firm’s revenue was down 3.1% compared to the same quarter last year. On average, research analysts anticipate that O-I Glass will post 2.37 earnings per share for the current fiscal year.

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.