O-I Glass (NYSE:OI) Given New $16.00 Price Target at Citigroup

O-I Glass (NYSE:OI) had its price target upped by Citigroup from $14.00 to $16.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

OI has been the subject of a number of other research reports. BNP Paribas Exane initiated coverage on shares of O-I Glass in a research report on Wednesday, June 25th. They issued an “outperform” rating and a $18.00 price objective for the company. Royal Bank Of Canada restated an “outperform” rating and issued a $16.00 price objective on shares of O-I Glass in a research report on Monday, March 17th. BNP Paribas set a $18.00 price objective on shares of O-I Glass in a research report on Wednesday, June 25th. Wall Street Zen upgraded shares of O-I Glass from a “hold” rating to a “buy” rating in a research report on Sunday, June 29th. Finally, Barclays upped their price objective on shares of O-I Glass from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

O-I Glass Stock Performance

OI stock opened at $15.67 on Thursday. The business’s fifty day moving average is $13.61 and its 200-day moving average is $11.97. The company has a quick ratio of 0.73, a current ratio of 1.24 and a debt-to-equity ratio of 3.83. The company has a market cap of $2.42 billion, a P/E ratio of -12.44, a price-to-earnings-growth ratio of 0.32 and a beta of 0.97. O-I Glass has a twelve month low of $9.23 and a twelve month high of $15.77.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.22. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.55 billion. O-I Glass had a positive return on equity of 8.48% and a negative net margin of 2.98%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 EPS. Equities research analysts forecast that O-I Glass will post 1.33 EPS for the current year.

Hedge Funds Weigh In On O-I Glass

A number of large investors have recently added to or reduced their stakes in the company. Cooper Creek Partners Management LLC increased its holdings in O-I Glass by 18.2% during 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 purchasing an additional 1,705,216 shares in the last quarter. FMR LLC increased its holdings in O-I Glass by 6.9% during the 4th quarter. FMR LLC now owns 10,054,398 shares of the industrial products company’s stock worth $108,990,000 after purchasing an additional 647,237 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in O-I Glass by 9.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,449,472 shares of the industrial products company’s stock worth $80,749,000 after purchasing an additional 617,460 shares in the last quarter. Highland Peak Capital LLC increased its holdings in O-I Glass by 87.5% during the 4th quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company’s stock worth $42,029,000 after purchasing an additional 1,809,237 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its holdings in shares of O-I Glass by 31.5% in the 4th quarter. Segall Bryant & Hamill LLC now owns 3,242,750 shares of the industrial products company’s stock valued at $35,151,000 after acquiring an additional 777,036 shares in the last quarter. Institutional investors 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.