O-I Glass, Inc. (NYSE:OI) Given Average Recommendation of “Hold” by Analysts

O-I Glass, Inc. (NYSE:OIGet Rating) has been assigned a consensus rating of “Hold” from the fourteen brokerages that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $16.40.

OI has been the topic of several research analyst reports. Barclays lowered O-I Glass from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $15.00 to $13.00 in a research note on Monday, July 11th. Royal Bank of Canada boosted their price target on O-I Glass from $14.00 to $16.00 in a report on Wednesday, June 8th. Citigroup cut their price target on O-I Glass from $16.00 to $14.00 in a report on Friday, April 8th. Credit Suisse Group upped their price objective on O-I Glass from $18.00 to $21.00 and gave the stock an “outperform” rating in a report on Thursday, June 9th. Finally, StockNews.com upgraded O-I Glass from a “hold” rating to a “buy” rating in a report on Friday, May 6th.

O-I Glass Price Performance

Shares of OI opened at $13.57 on Thursday. O-I Glass has a twelve month low of $10.64 and a twelve month high of $17.94. The stock’s 50 day moving average is $14.68 and its two-hundred day moving average is $13.74. The firm has a market capitalization of $2.12 billion, a PE ratio of 6.52, a P/E/G ratio of 1.27 and a beta of 1.42. The company has a current ratio of 1.42, a quick ratio of 0.94 and a debt-to-equity ratio of 4.19.

O-I Glass (NYSE:OIGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The industrial products company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. O-I Glass had a return on equity of 43.72% and a net margin of 5.10%. During the same period last year, the firm posted $0.54 EPS. Research analysts anticipate that O-I Glass will post 2.11 earnings per share for the current year.

Institutional Investors Weigh In On O-I Glass

Institutional investors and hedge funds have recently bought and sold shares of the business. Teacher Retirement System of Texas increased its stake in shares of O-I Glass by 19.7% in the fourth quarter. Teacher Retirement System of Texas now owns 30,387 shares of the industrial products company’s stock valued at $366,000 after purchasing an additional 4,996 shares during the period. Bailard Inc. increased its stake in shares of O-I Glass by 79.7% in the first quarter. Bailard Inc. now owns 55,900 shares of the industrial products company’s stock valued at $737,000 after purchasing an additional 24,800 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of O-I Glass by 41.7% in the fourth quarter. Alliancebernstein L.P. now owns 1,189,879 shares of the industrial products company’s stock valued at $14,314,000 after acquiring an additional 350,198 shares in the last quarter. AlphaCrest Capital Management LLC boosted its holdings in shares of O-I Glass by 112.8% in the fourth quarter. AlphaCrest Capital Management LLC now owns 110,574 shares of the industrial products company’s stock valued at $1,330,000 after acquiring an additional 58,624 shares in the last quarter. Finally, Private Management Group Inc. boosted its holdings in shares of O-I Glass by 2.3% in the first quarter. Private Management Group Inc. now owns 2,896,671 shares of the industrial products company’s stock valued at $38,178,000 after acquiring an additional 64,286 shares in the last quarter. Institutional investors and hedge funds own 91.04% of the company’s stock.

About O-I Glass

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O-I Glass, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in the Americas, Europe, and the Asia Pacific. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. It is also involved in the production of glass packaging for various food items, soft drinks, tea, juices, and pharmaceuticals.

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