O-I Glass, Inc. (NYSE:OI) Receives $16.25 Consensus PT from Brokerages

O-I Glass, Inc. (NYSE:OI) has earned an average rating of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $16.25.

Several analysts recently issued reports on the stock. Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $16.00 in a report on Thursday, October 17th. Citigroup raised their price target on O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Royal Bank of Canada lowered their target price on O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Barclays cut their price target on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st.

O-I Glass Trading Up 3.9 %

Shares of NYSE:OI opened at $10.84 on Thursday. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18. The stock has a market capitalization of $1.68 billion, a PE ratio of -3.93 and a beta of 1.20. O-I Glass has a 1 year low of $9.85 and a 1 year high of $17.58. The firm has a fifty day moving average price of $11.84 and a 200 day moving average price of $11.98.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.08). O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the company posted $0.80 EPS. The business’s revenue was down 3.7% compared to the same quarter last year. Analysts expect that O-I Glass will post 0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Everence Capital Management Inc. raised its stake in O-I Glass by 6.1% during the third quarter. Everence Capital Management Inc. now owns 15,550 shares of the industrial products company’s stock worth $204,000 after acquiring an additional 890 shares in the last quarter. Diversified Trust Co increased its position in shares of O-I Glass by 2.0% during the 3rd quarter. Diversified Trust Co now owns 49,596 shares of the industrial products company’s stock worth $651,000 after purchasing an additional 965 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in O-I Glass by 28.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 1,136 shares during the last quarter. Mackenzie Financial Corp boosted its position in O-I Glass by 6.1% in the second quarter. Mackenzie Financial Corp now owns 20,091 shares of the industrial products company’s stock valued at $224,000 after buying an additional 1,162 shares in the last quarter. Finally, KBC Group NV grew its stake in O-I Glass by 38.9% during the third quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock worth $71,000 after buying an additional 1,521 shares during the last quarter. Institutional investors and hedge funds 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.