O-I Glass, Inc. (NYSE:OI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of O-I Glass, Inc. (NYSE:OI) have earned a consensus rating of “Moderate Buy” from the eleven analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $16.6667.

A number of research analysts recently commented on OI shares. Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and increased their target price for the company from $14.00 to $17.00 in a research report on Monday, November 17th. Wells Fargo & Company upped their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of O-I Glass in a report on Wednesday, October 8th. Truist Financial cut their target price on O-I Glass from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Finally, Zacks Research cut O-I Glass from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th.

Institutional Investors Weigh In On O-I Glass

Several large investors have recently modified their holdings of OI. Cetera Investment Advisers acquired a new position in shares of O-I Glass in the 1st quarter valued at $211,000. PNC Financial Services Group Inc. increased its stake in O-I Glass by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 52,337 shares of the industrial products company’s stock valued at $600,000 after purchasing an additional 2,104 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of O-I Glass by 7.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,992,887 shares of the industrial products company’s stock valued at $22,858,000 after buying an additional 144,030 shares during the last quarter. Nuveen LLC purchased a new stake in shares of O-I Glass in the first quarter valued at about $10,738,000. Finally, Public Sector Pension Investment Board boosted its stake in shares of O-I Glass by 26.8% during the first quarter. Public Sector Pension Investment Board now owns 488,598 shares of the industrial products company’s stock worth $5,604,000 after buying an additional 103,263 shares during the period. 97.24% of the stock is owned by institutional investors and hedge funds.

O-I Glass Stock Up 4.5%

O-I Glass stock opened at $14.79 on Thursday. The stock has a market cap of $2.27 billion, a PE ratio of -15.74, a P/E/G ratio of 0.22 and a beta of 0.78. The company has a debt-to-equity ratio of 3.36, a current ratio of 1.33 and a quick ratio of 0.84. The stock’s fifty day moving average is $12.73 and its two-hundred day moving average is $13.35. O-I Glass has a 1-year low of $9.23 and a 1-year high of $16.04.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Wednesday, March 1st. The industrial products company reported $0.36 EPS for the quarter. The business had revenue of $1.59 billion for the quarter. O-I Glass had a positive return on equity of 16.02% and a negative net margin of 2.26%. On average, sell-side analysts expect that O-I Glass will post 1.33 EPS for the current fiscal 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.