Truist Financial Increases O-I Glass (NYSE:OI) Price Target to $21.00

O-I Glass (NYSE:OI) had its price objective hoisted by Truist Financial from $17.00 to $21.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective would indicate a potential upside of 38.48% from the stock’s current price.

Several other equities research analysts have also recently issued reports on OI. Weiss Ratings restated a “sell (d-)” rating on shares of O-I Glass in a research report on Wednesday, October 8th. Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and increased their price target for the company from $14.00 to $17.00 in a research note on Monday, November 17th. Citigroup raised their price target on shares of O-I Glass from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday. Wall Street Zen cut O-I Glass from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 28th. Finally, Wells Fargo & Company upgraded O-I Glass from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $15.00 to $18.00 in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.56.

O-I Glass Stock Performance

Shares of O-I Glass stock opened at $15.17 on Tuesday. The business’s 50 day moving average price is $13.89 and its 200 day moving average price is $13.58. The company has a market cap of $2.33 billion, a price-to-earnings ratio of -16.13, a PEG ratio of 0.19 and a beta of 0.77. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.84 and a current ratio of 1.33. O-I Glass has a one year low of $9.23 and a one year high of $16.04.

O-I Glass (NYSE:OI) last issued its earnings results on Wednesday, March 1st. The industrial products company reported $0.36 earnings per share (EPS) for the quarter. O-I Glass had a positive return on equity of 16.02% and a negative net margin of 2.26%.The company had revenue of $1.59 billion during the quarter. On average, research analysts predict that O-I Glass will post 1.33 EPS for the current year.

Institutional Trading of O-I Glass

Several institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new position in O-I Glass during the second quarter worth $29,000. Smartleaf Asset Management LLC grew its stake in shares of O-I Glass by 64.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock valued at $35,000 after buying an additional 918 shares in the last quarter. State of Wyoming purchased a new stake in shares of O-I Glass in the 2nd quarter valued at $35,000. GAMMA Investing LLC raised its holdings in shares of O-I Glass by 31.7% in the 2nd quarter. GAMMA Investing LLC now owns 3,403 shares of the industrial products company’s stock valued at $50,000 after buying an additional 820 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in O-I Glass during the 2nd quarter worth about $51,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

O-I Glass Company Profile

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.