O-I Glass, Inc. (NYSE:OI) Receives $15.00 Average Target Price from Brokerages

O-I Glass, Inc. (NYSE:OI) has received a consensus rating of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $15.50.

OI has been the topic of a number of research reports. Barclays boosted their price objective on O-I Glass from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Friday. Truist Financial reaffirmed a “buy” rating and issued a $16.00 price objective (up from $13.00) on shares of O-I Glass in a report on Thursday. Citigroup lowered 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $16.00 price target on shares of O-I Glass in a report on Monday, March 17th. Finally, Wells Fargo & Company decreased their price objective on O-I Glass from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th.

Institutional Trading of O-I Glass

A number of large investors have recently modified their holdings of the business. Barclays PLC lifted its position in O-I Glass by 349.3% during the third quarter. Barclays PLC now owns 261,161 shares of the industrial products company’s stock valued at $3,427,000 after purchasing an additional 203,037 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of O-I Glass by 18.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company’s stock worth $8,130,000 after acquiring an additional 94,671 shares during the last quarter. Diversified Trust Co grew its position in O-I Glass by 10.0% in the fourth quarter. Diversified Trust Co now owns 54,551 shares of the industrial products company’s stock worth $591,000 after acquiring an additional 4,955 shares in the last quarter. Moody National Bank Trust Division increased its stake in O-I Glass by 35.6% in the fourth quarter. Moody National Bank Trust Division now owns 103,343 shares of the industrial products company’s stock valued at $1,120,000 after acquiring an additional 27,159 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in O-I Glass by 111.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,401,400 shares of the industrial products company’s stock valued at $15,191,000 after purchasing an additional 737,123 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Up 3.4 %

OI opened at $13.25 on Wednesday. O-I Glass has a twelve month low of $9.23 and a twelve month high of $14.15. The company’s 50-day moving average price is $11.42 and its two-hundred day moving average price is $11.55. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -18.66, a PEG ratio of 0.24 and a beta of 0.98. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.22. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same period in the prior year, the company earned $0.45 earnings per share. O-I Glass’s revenue was up .4% compared to the same quarter last year. As a group, equities analysts expect that O-I Glass will post 1.33 earnings per share for the current 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.