O-I Glass (NYSE:OI) Earns Neutral Rating from Bank of America

O-I Glass (NYSE:OI)‘s stock had its “neutral” rating reaffirmed by analysts at Bank of America in a research note issued on Friday, Marketbeat.com reports. They presently have a $16.00 target price on the industrial products company’s stock, down from their previous target price of $21.00. Bank of America‘s price target suggests a potential upside of 3.76% from the stock’s current price.

A number of other brokerages also recently commented on OI. StockNews.com downgraded O-I Glass from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. TheStreet downgraded O-I Glass from a “b-” rating to a “c-” rating in a report on Tuesday, February 6th. Barclays increased their price objective on O-I Glass from $16.00 to $18.00 and gave the company an “equal weight” rating in a report on Tuesday, February 13th. UBS Group assumed coverage on O-I Glass in a report on Tuesday, January 16th. They issued a “buy” rating and a $26.00 price objective for the company. Finally, Truist Financial reissued a “buy” rating and issued a $20.00 price objective on shares of O-I Glass in a report on Monday, March 25th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, O-I Glass currently has a consensus rating of “Hold” and an average price target of $22.67.

O-I Glass Stock Up 2.2 %

Shares of OI opened at $15.42 on Friday. The firm has a market cap of $2.40 billion, a P/E ratio of -20.56, a price-to-earnings-growth ratio of 1.04 and a beta of 1.35. O-I Glass has a 12-month low of $13.56 and a 12-month high of $23.57. The company’s 50-day moving average price is $16.18 and its 200 day moving average price is $15.66. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 2.69.

O-I Glass (NYSE:OI) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. O-I Glass had a negative net margin of 1.45% and a positive return on equity of 24.90%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 earnings per share. On average, sell-side analysts forecast that O-I Glass will post 2.37 earnings per share for the current year.

Institutional Investors Weigh In On O-I Glass

Large investors have recently modified their holdings of the stock. Metropolitan Life Insurance Co NY raised its holdings in shares of O-I Glass by 5.3% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 9,577 shares of the industrial products company’s stock worth $159,000 after purchasing an additional 485 shares during the period. Neuberger Berman Group LLC raised its holdings in shares of O-I Glass by 1.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 46,004 shares of the industrial products company’s stock valued at $596,000 after buying an additional 656 shares during the period. State of Wyoming raised its holdings in shares of O-I Glass by 7.8% during the 2nd quarter. State of Wyoming now owns 10,126 shares of the industrial products company’s stock valued at $216,000 after buying an additional 730 shares during the period. Belpointe Asset Management LLC raised its holdings in shares of O-I Glass by 109.4% during the 1st quarter. Belpointe Asset Management LLC now owns 1,518 shares of the industrial products company’s stock valued at $34,000 after buying an additional 793 shares during the period. Finally, Stifel Financial Corp raised its holdings in shares of O-I Glass by 0.4% during the 2nd quarter. Stifel Financial Corp now owns 242,291 shares of the industrial products company’s stock valued at $5,168,000 after buying an additional 1,076 shares during the period. Hedge funds and other institutional investors own 97.24% of the company’s stock.

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.