O-I Glass (NYSE:OI) Shares Gap Down to $15.42

O-I Glass, Inc. (NYSE:OIGet Free Report)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $15.42, but opened at $14.75. O-I Glass shares last traded at $14.51, with a volume of 535,608 shares traded.

Wall Street Analyst Weigh In

A number of analysts have issued reports on OI shares. Barclays boosted their price target on shares of 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. TheStreet lowered shares of O-I Glass from a “b-” rating to a “c-” rating in a research note on Tuesday, February 6th. UBS Group started coverage on shares of O-I Glass in a research note on Tuesday, January 16th. They set a “buy” rating and a $26.00 price target on the stock. StockNews.com lowered shares of O-I Glass from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, Bank of America reiterated a “neutral” rating and set a $16.00 price target (down from $21.00) on shares of O-I Glass in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.67.

Check Out Our Latest Report on OI

O-I Glass Stock Performance

The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of -19.43, a P/E/G ratio of 1.06 and a beta of 1.35. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 2.69. The stock has a 50-day moving average price of $16.16 and a 200 day moving average price of $15.64.

O-I Glass (NYSE:OIGet Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. O-I Glass had a positive return on equity of 24.90% and a negative net margin of 1.45%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 earnings per share. On average, analysts forecast that O-I Glass, Inc. will post 2.37 EPS for the current year.

Hedge Funds Weigh In On O-I Glass

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of O-I Glass in the fourth quarter valued at approximately $27,562,000. Alliancebernstein L.P. boosted its holdings in shares of O-I Glass by 116.3% in the fourth quarter. Alliancebernstein L.P. now owns 2,291,497 shares of the industrial products company’s stock valued at $37,970,000 after acquiring an additional 1,231,866 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of O-I Glass by 132.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,002,867 shares of the industrial products company’s stock valued at $32,807,000 after acquiring an additional 1,141,680 shares during the period. Millennium Management LLC boosted its holdings in shares of O-I Glass by 3,268.7% in the fourth quarter. Millennium Management LLC now owns 1,108,594 shares of the industrial products company’s stock valued at $18,369,000 after acquiring an additional 1,075,685 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of O-I Glass by 145.7% in the first quarter. Bank of America Corp DE now owns 1,763,194 shares of the industrial products company’s stock valued at $40,042,000 after acquiring an additional 1,045,661 shares during the period. 97.24% of the stock is owned by institutional investors and hedge funds.

O-I Glass Company Profile

(Get Free Report)

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.

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