O-I Glass (NYSE:OI) Price Target Raised to $15.00

O-I Glass (NYSE:OI) had its price target increased by stock analysts at Citigroup from $14.00 to $15.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Citigroup’s target price would suggest a potential upside of 17.10% from the stock’s current price.

OI has been the subject of several other reports. StockNews.com upgraded O-I Glass from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Truist Financial restated a “buy” rating and set a $16.00 price objective (down from $17.00) on shares of O-I Glass in a research report on Thursday, August 1st. UBS Group dropped their price objective 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. Wells Fargo & Company dropped their price objective on O-I Glass from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. Finally, Robert W. Baird dropped their price objective on O-I Glass from $22.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.63.

O-I Glass Stock Performance

OI opened at $12.81 on Wednesday. The firm has a market cap of $1.99 billion, a P/E ratio of -8.06, a price-to-earnings-growth ratio of 1.92 and a beta of 1.17. O-I Glass has a 52-week low of $10.08 and a 52-week high of $17.58. The company has a debt-to-equity ratio of 2.85, a quick ratio of 0.75 and a current ratio of 1.26. The business’s fifty day moving average is $12.35 and its 200-day moving average is $12.92.

O-I Glass (NYSE:OI) last released its earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. O-I Glass’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 EPS. Sell-side analysts expect that O-I Glass will post 1.13 EPS for the current fiscal year.

Insider Buying and Selling at O-I Glass

In other news, Director John Humphrey bought 15,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was purchased at an average cost of $11.30 per share, for a total transaction of $169,500.00. Following the completion of the transaction, the director now owns 84,227 shares of the company’s stock, valued at $951,765.10. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.49% of the company’s stock.

Institutional Investors Weigh In On O-I Glass

Institutional investors and hedge funds have recently made changes to their positions in the stock. 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 during the period. Fidelis Capital Partners LLC acquired a new stake in O-I Glass during the first quarter worth approximately $33,000. TFO Wealth Partners LLC grew its stake in O-I Glass by 24,311.1% during the fourth quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 2,188 shares during the period. FinTrust Capital Advisors LLC acquired a new stake in O-I Glass during the first quarter worth approximately $38,000. Finally, Headlands Technologies LLC acquired a new stake in O-I Glass during the first quarter worth approximately $39,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

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.