O-I Glass (NYSE:OI) Stock Price Expected to Rise, Barclays Analyst Says

O-I Glass (NYSE:OI) had its price objective upped by research analysts at Barclays from $13.00 to $14.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s target price would indicate a potential upside of 5.66% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Truist Financial restated a “buy” rating and set a $16.00 price objective (up from $13.00) on shares of O-I Glass in a research report on Thursday. Bank of America lifted their price target on shares of O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $16.00 price objective on shares of O-I Glass in a research report on Monday, March 17th. Wells Fargo & Company reduced their target price on O-I Glass from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, Citigroup lowered their price target on O-I Glass from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.50.

O-I Glass Stock Performance

OI opened at $13.25 on Friday. O-I Glass has a twelve month low of $9.23 and a twelve month high of $14.15. The firm has a market capitalization of $2.05 billion, a PE ratio of -18.66, a PEG ratio of 0.24 and a beta of 0.93. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 3.78. The firm’s 50-day moving average price is $11.42 and its 200 day moving average price is $11.54.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.22. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.55 billion. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. The business’s revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.45 earnings per share. As a group, sell-side analysts expect that O-I Glass will post 1.33 EPS for the current fiscal year.

Hedge Funds Weigh In On O-I Glass

Institutional investors have recently modified their holdings of the business. Barclays PLC raised its position in O-I Glass by 349.3% in the 3rd quarter. Barclays PLC now owns 261,161 shares of the industrial products company’s stock valued at $3,427,000 after purchasing an additional 203,037 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in O-I Glass by 18.0% in the third quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company’s stock valued at $8,130,000 after acquiring an additional 94,671 shares in the last quarter. Diversified Trust Co grew its holdings in O-I Glass by 10.0% during the 4th quarter. Diversified Trust Co now owns 54,551 shares of the industrial products company’s stock worth $591,000 after acquiring an additional 4,955 shares in the last quarter. Moody National Bank Trust Division increased its position in shares of O-I Glass by 35.6% in the 4th quarter. Moody National Bank Trust Division now owns 103,343 shares of the industrial products company’s stock valued at $1,120,000 after purchasing an additional 27,159 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of O-I Glass by 111.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,401,400 shares of the industrial products company’s stock valued at $15,191,000 after purchasing an additional 737,123 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, 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.