O-I Glass (NYSE:OI) Earns Outperform Rating from Analysts at BNP Paribas Exane

Stock analysts at BNP Paribas Exane initiated coverage on shares of O-I Glass (NYSE:OI) in a research report issued to clients and investors on Wednesday, MarketBeat reports. The firm set an “outperform” rating and a $18.00 price target on the industrial products company’s stock. BNP Paribas Exane’s target price points to a potential upside of 16.02% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Wall Street Zen lowered shares of O-I Glass from a “buy” rating to a “hold” rating in a report on Saturday, June 21st. Royal Bank Of Canada reissued an “outperform” rating and set a $16.00 price objective on shares of O-I Glass in a report on Monday, March 17th. Truist Financial restated a “buy” rating and set a $16.00 target price (up from $13.00) on shares of O-I Glass in a research report on Thursday, May 1st. Citigroup upped their price target on shares of O-I Glass from $11.00 to $14.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Finally, Barclays upped their price target on shares of O-I Glass from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $16.30.

O-I Glass Price Performance

Shares of OI opened at $15.51 on Wednesday. The firm has a market capitalization of $2.40 billion, a PE ratio of -12.31, a price-to-earnings-growth ratio of 0.31 and a beta of 0.96. The company has a debt-to-equity ratio of 3.83, a current ratio of 1.24 and a quick ratio of 0.73. O-I Glass has a 1-year low of $9.23 and a 1-year high of $15.57. The company’s fifty day moving average price is $13.21 and its 200-day moving average price is $11.85.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.22. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.55 billion. O-I Glass had a negative net margin of 2.98% and a positive return on equity of 8.48%. The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.45 earnings per share. On average, equities research analysts predict that O-I Glass will post 1.33 EPS for the current year.

Institutional Investors Weigh In On O-I Glass

Several hedge funds have recently added to or reduced their stakes in OI. GAMMA Investing LLC boosted its stake in shares of O-I Glass by 79.3% during the 1st quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 1,142 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of O-I Glass during the 1st quarter worth about $30,000. Sterling Capital Management LLC boosted its stake in shares of O-I Glass by 807.2% during the 4th quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 4,343 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of O-I Glass during the 1st quarter worth about $85,000. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of O-I Glass during the 4th quarter worth about $86,000. 97.24% of the stock is owned by hedge funds and other institutional investors.

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.