O-I Glass (NYSE:OI) Raised to “Strong-Buy” at BNP Paribas

O-I Glass (NYSE:OIGet Free Report) was upgraded by equities researchers at BNP Paribas to a “strong-buy” rating in a note issued to investors on Wednesday, Marketbeat Ratings reports.

Several other equities analysts have also weighed in on OI. Wall Street Zen lowered shares of O-I Glass from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st. Barclays increased their price objective on O-I Glass from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Friday, May 2nd. Citigroup boosted their target price on shares of O-I Glass from $11.00 to $14.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Truist Financial reaffirmed a “buy” rating and set a $16.00 price target (up from $13.00) on shares of O-I Glass in a research report on Thursday, May 1st. Finally, BNP Paribas Exane started coverage on shares of O-I Glass in a report on Wednesday. They issued an “outperform” rating and a $18.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, O-I Glass has an average rating of “Moderate Buy” and a consensus price target of $16.30.

View Our Latest Report on O-I Glass

O-I Glass Stock Performance

Shares of OI stock opened at $15.51 on Wednesday. The company has a fifty day moving average price of $13.21 and a two-hundred day moving average price of $11.85. O-I Glass has a one year low of $9.23 and a one year high of $15.57. The stock has a market cap of $2.40 billion, a P/E ratio of -12.31, a P/E/G 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 (NYSE:OIGet Free Report) last issued its earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.22. O-I Glass had a negative net margin of 2.98% and a positive return on equity of 8.48%. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the business posted $0.45 EPS. O-I Glass’s revenue was up .4% on a year-over-year basis. As a group, equities analysts predict that O-I Glass will post 1.33 EPS for the current year.

Institutional Investors Weigh In On O-I Glass

A number of large investors have recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of O-I Glass by 2.2% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 42,900 shares of the industrial products company’s stock valued at $465,000 after buying an additional 916 shares in the last quarter. Russell Investments Group Ltd. increased its stake in O-I Glass by 1.5% in the first quarter. Russell Investments Group Ltd. now owns 70,572 shares of the industrial products company’s stock valued at $809,000 after acquiring an additional 1,074 shares during the last quarter. GAMMA Investing LLC raised its position in O-I Glass by 79.3% during the first quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 1,142 shares in the last quarter. SummerHaven Investment Management LLC raised its position in O-I Glass by 1.6% during the first quarter. SummerHaven Investment Management LLC now owns 75,226 shares of the industrial products company’s stock valued at $863,000 after purchasing an additional 1,204 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its stake in O-I Glass by 9.6% during the fourth quarter. Baird Financial Group Inc. now owns 16,152 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 1,410 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.

O-I Glass Company Profile

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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.

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Analyst Recommendations for O-I Glass (NYSE:OI)

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