Truist Financial Reaffirms Buy Rating for O-I Glass (NYSE:OI)

Truist Financial reiterated their buy rating on shares of O-I Glass (NYSE:OI) in a research note released on Thursday, Benzinga reports. The brokerage currently has a $17.00 target price on the industrial products company’s stock, down from their prior target price of $20.00.

OI has been the subject of a number of other reports. Bank of America reaffirmed a neutral rating and issued a $16.00 target price (down from $21.00) on shares of O-I Glass in a report on Friday, April 19th. UBS Group started coverage on O-I Glass in a report on Tuesday, January 16th. They issued a buy rating and a $26.00 target price on the stock. Wells Fargo & Company cut their price target on O-I Glass from $22.00 to $19.00 and set an overweight rating for the company in a research note on Thursday. Robert W. Baird lowered their price objective on shares of O-I Glass from $28.00 to $22.00 and set an outperform rating on the stock in a research report on Thursday. Finally, Citigroup downgraded shares of O-I Glass from a buy rating to a neutral rating and upped their price objective for the stock from $17.00 to $18.00 in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $19.89.

O-I Glass Stock Up 0.6 %

NYSE OI opened at $13.17 on Thursday. O-I Glass has a 12 month low of $12.40 and a 12 month high of $23.57. The company has a quick ratio of 0.77, a current ratio of 1.02 and a debt-to-equity ratio of 2.26. The firm’s fifty day moving average price is $15.71 and its 200 day moving average price is $15.54.

O-I Glass (NYSE:OI) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.69 billion. O-I Glass had a positive return on equity of 18.25% and a negative net margin of 3.45%. The business’s revenue was down 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.29 earnings per share. Sell-side analysts anticipate that O-I Glass will post 1.6 earnings per share for the current year.

Institutional Investors Weigh In On O-I Glass

Large investors have recently added to or reduced their stakes in the business. Covestor Ltd grew its holdings in O-I Glass by 259.7% during the 3rd quarter. Covestor Ltd now owns 1,669 shares of the industrial products company’s stock valued at $28,000 after buying an additional 1,205 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of O-I Glass in the first quarter valued at $33,000. TFO Wealth Partners LLC boosted its stake in shares of 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 valued at $36,000 after acquiring an additional 2,188 shares during the last quarter. FinTrust Capital Advisors LLC purchased a new stake in O-I Glass during the 1st quarter worth about $38,000. Finally, Signaturefd LLC acquired a new position in O-I Glass in the 3rd quarter valued at about $62,000. 97.24% of the stock is owned by institutional investors and hedge funds.

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.