O-I Glass, Inc. (NYSE:OI) Receives Consensus Rating of “Moderate Buy” from Brokerages

O-I Glass, Inc. (NYSE:OI) has been given a consensus rating of “Moderate Buy” by the ten research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $18.2222.

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $19.00 price objective on shares of O-I Glass in a research report on Thursday, January 15th. Citigroup reduced their target price on shares of O-I Glass from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, February 12th. UBS Group restated a “buy” rating and issued a $21.00 price target on shares of O-I Glass in a research report on Thursday, February 12th. Wells Fargo & Company upgraded O-I Glass from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $15.00 to $18.00 in a research report on Tuesday, January 6th. Finally, Bank of America raised O-I Glass from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $17.00 in a research note on Monday, November 17th.

O-I Glass Trading Down 4.2%

O-I Glass stock opened at $14.74 on Tuesday. O-I Glass has a 12-month low of $9.23 and a 12-month high of $16.91. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.25 and a quick ratio of 0.77. The stock has a market capitalization of $2.25 billion, a PE ratio of -17.54, a price-to-earnings-growth ratio of 0.70 and a beta of 0.78. The firm has a 50 day simple moving average of $15.32 and a 200-day simple moving average of $13.78.

O-I Glass (NYSE:OI) last issued its quarterly earnings results on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.52 billion. O-I Glass had a positive return on equity of 18.07% and a negative net margin of 2.01%.The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period last year, the firm earned ($0.05) EPS. As a group, equities research analysts expect that O-I Glass will post 1.33 EPS for the current fiscal year.

Institutional Trading of O-I Glass

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC increased its position in shares of O-I Glass by 87.6% in the fourth quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 830 shares in the last quarter. Headlands Technologies LLC purchased a new position in O-I Glass during the 2nd quarter worth approximately $29,000. Quarry LP purchased a new position in O-I Glass during the 4th quarter worth approximately $32,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of O-I Glass by 36,533.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 2,192 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings 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 purchasing an additional 918 shares in the last quarter. Institutional investors and hedge funds own 97.24% of the company’s stock.

About O-I Glass

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.