Brokerages Set O-I Glass, Inc. (NYSE:OI) Target Price at $16.78

Shares of O-I Glass, Inc. (NYSE:OI) have been assigned a consensus rating of “Hold” from the ten analysts that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $15.6667.

A number of equities research analysts have recently weighed in on OI shares. Wells Fargo & Company cut O-I Glass from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $18.00 to $13.00 in a report on Friday, March 20th. Wall Street Zen cut O-I Glass from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Truist Financial cut their price target on O-I Glass from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday. Zacks Research cut O-I Glass from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 3rd. Finally, Citigroup cut their price target on O-I Glass from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, April 13th.

O-I Glass Stock Performance

OI opened at $10.91 on Wednesday. The business’s 50 day moving average is $12.06 and its 200-day moving average is $13.26. The stock has a market cap of $1.67 billion, a PE ratio of -12.98, a price-to-earnings-growth ratio of 0.87 and a beta of 0.84. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 3.35. O-I Glass has a twelve month low of $9.84 and a twelve month high of $16.91.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.52 billion. O-I Glass had a positive return on equity of 18.07% and a negative net margin of 2.01%.The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) earnings per share. On average, analysts predict that O-I Glass will post 1.33 earnings per share for the current year.

Institutional Investors Weigh In On O-I Glass

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OI. PNC Financial Services Group Inc. lifted its position in O-I Glass by 1.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 37,828 shares of the industrial products company’s stock worth $558,000 after acquiring an additional 701 shares during the last quarter. Barclays PLC lifted its position in O-I Glass by 0.3% during the 4th quarter. Barclays PLC now owns 246,766 shares of the industrial products company’s stock worth $3,642,000 after acquiring an additional 755 shares during the last quarter. Farther Finance Advisors LLC lifted its position in O-I Glass by 87.6% during the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 830 shares during the last quarter. ProShare Advisors LLC lifted its position in O-I Glass by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 29,887 shares of the industrial products company’s stock worth $441,000 after acquiring an additional 911 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in O-I Glass by 64.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 918 shares during the last quarter. Institutional investors own 97.24% of the company’s stock.

O-I Glass Company Profile

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.