Analysts Set O-I Glass, Inc. (NYSE:OI) PT at $16.25

Shares of O-I Glass, Inc. (NYSE:OI) have been given an average recommendation of “Moderate Buy” by the eight ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $16.25.

OI has been the topic of a number of analyst reports. Royal Bank of Canada lowered their target price on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Barclays dropped their price objective on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Citigroup lifted their target price on O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and increased their price target for the stock from $14.00 to $16.00 in a report on Thursday, October 17th. Finally, StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th.

Hedge Funds Weigh In On O-I Glass

A number of institutional investors have recently made changes to their positions in OI. Harbor Capital Advisors Inc. purchased a new position in shares of O-I Glass in the 3rd quarter worth about $27,000. Newbridge Financial Services Group Inc. grew its position in O-I Glass by 1,337.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 2,675 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of O-I Glass by 371.0% during the third quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 1,892 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of O-I Glass by 28.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 1,136 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of O-I Glass by 38.9% in the 3rd quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 1,521 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Down 0.3 %

OI stock opened at $10.30 on Thursday. O-I Glass has a fifty-two week low of $9.85 and a fifty-two week high of $17.58. The stock has a fifty day moving average of $11.94 and a 200-day moving average of $12.00. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -3.73 and a beta of 1.20. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.77 and a current ratio of 1.23.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the business earned $0.80 EPS. O-I Glass’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, equities research analysts predict that O-I Glass will post 0.76 earnings per share for the current 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.