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

O-I Glass (NYSE:OI)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank of Canada in a report issued on Monday,Benzinga reports. They presently have a $16.00 price target on the industrial products company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 31.09% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company cut 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 report on Monday, January 6th. Bank of America lifted their target price on shares of O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Citigroup cut their target price 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. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.38.

O-I Glass Trading Up 1.5 %

NYSE OI opened at $12.21 on Monday. The firm has a 50 day simple moving average of $11.29 and a 200-day simple moving average of $11.87. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of -17.19, a PEG ratio of 0.24 and a beta of 1.20. O-I Glass has a one year low of $9.85 and a one year high of $17.58. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15.

O-I Glass (NYSE:OI) last issued 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 negative net margin of 1.62% and a positive return on equity of 8.27%. Equities research analysts anticipate that O-I Glass will post 1.33 EPS for the current fiscal year.

Institutional Investors Weigh In On O-I Glass

Several institutional investors and hedge funds have recently made changes to their positions in the business. Cooper Creek Partners Management LLC boosted its position in shares of O-I Glass by 18.2% in the 4th quarter. Cooper Creek Partners Management LLC now owns 11,082,262 shares of the industrial products company’s stock worth $120,132,000 after buying an additional 1,705,216 shares in the last quarter. FMR LLC raised its stake in O-I Glass by 6.9% in the 4th quarter. FMR LLC now owns 10,054,398 shares of the industrial products company’s stock valued at $108,990,000 after purchasing an additional 647,237 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in O-I Glass by 9.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,449,472 shares of the industrial products company’s stock valued at $80,749,000 after purchasing an additional 617,460 shares during the last quarter. Highland Peak Capital LLC raised its stake in O-I Glass by 87.5% in the 4th quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company’s stock valued at $42,029,000 after purchasing an additional 1,809,237 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of O-I Glass by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,568,443 shares of the industrial products company’s stock valued at $46,827,000 after acquiring an additional 37,238 shares during the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

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.