O-I Glass (NYSE:OI) Earns “Neutral” Rating from Bank of America

Bank of America reissued their neutral rating on shares of O-I Glass (NYSE:OI) in a report released on Friday, Marketbeat.com reports. The brokerage currently has a $16.00 price target on the industrial products company’s stock, down from their prior price target of $21.00.

A number of other equities research analysts have also issued reports on OI. Barclays upped their target price on shares of O-I Glass from $16.00 to $18.00 and gave the company an equal weight rating in a research note on Tuesday, February 13th. StockNews.com lowered shares of O-I Glass from a buy rating to a hold rating in a research note on Thursday, February 15th. TheStreet lowered shares of O-I Glass from a b- rating to a c- rating in a research note on Tuesday, February 6th. Truist Financial reiterated a buy rating and set a $20.00 price objective on shares of O-I Glass in a research note on Monday, March 25th. Finally, Citigroup lowered shares of O-I Glass from a buy rating to a neutral rating and increased their price objective for the stock from $17.00 to $18.00 in a research note on Wednesday, January 3rd. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, O-I Glass currently has a consensus rating of Hold and a consensus price target of $22.67.

O-I Glass Stock Performance

Shares of O-I Glass stock opened at $14.81 on Friday. The firm has a market cap of $2.31 billion, a PE ratio of -19.75, a price-to-earnings-growth ratio of 1.02 and a beta of 1.35. The firm’s 50-day simple moving average is $16.16 and its 200-day simple moving average is $15.64. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.77 and a current ratio of 1.23. O-I Glass has a 1 year low of $13.56 and a 1 year high of $23.57.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. O-I Glass had a negative net margin of 1.45% and a positive return on equity of 24.90%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 EPS. Equities analysts forecast that O-I Glass will post 2.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Covestor Ltd grew its position in O-I Glass by 259.7% in the 3rd quarter. Covestor Ltd now owns 1,669 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 1,205 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of O-I Glass by 37.3% in the fourth quarter. Quadrant Capital Group LLC now owns 5,168 shares of the industrial products company’s stock valued at $85,000 after acquiring an additional 1,404 shares in the last quarter. Comerica Bank boosted its holdings in shares of O-I Glass by 1.8% in the fourth quarter. Comerica Bank now owns 81,833 shares of the industrial products company’s stock valued at $1,340,000 after acquiring an additional 1,411 shares in the last quarter. Carolina Wealth Advisors LLC boosted its holdings in shares of O-I Glass by 6.7% in the third quarter. Carolina Wealth Advisors LLC now owns 26,501 shares of the industrial products company’s stock valued at $443,000 after acquiring an additional 1,659 shares in the last quarter. Finally, Lumbard & Kellner LLC boosted its holdings in shares of O-I Glass by 1.4% in the fourth quarter. Lumbard & Kellner LLC now owns 125,708 shares of the industrial products company’s stock valued at $2,059,000 after acquiring an additional 1,793 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

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.