Shares of O-I Glass, Inc. (NYSE:OI – Get Rating) have earned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $15.50.
Several equities research analysts have recently weighed in on OI shares. Credit Suisse Group increased their price target on O-I Glass from $18.00 to $21.00 and gave the stock an “outperform” rating in a report on Thursday, June 9th. Bank of America upgraded O-I Glass from a “neutral” rating to a “buy” rating and increased their price target for the stock from $15.00 to $19.00 in a report on Friday, May 27th. Royal Bank of Canada increased their price target on O-I Glass from $14.00 to $16.00 in a report on Wednesday, June 8th. Barclays downgraded O-I Glass from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $15.00 to $13.00 in a report on Monday, July 11th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on O-I Glass from $16.00 to $13.00 in a report on Tuesday, July 19th.
O-I Glass Price Performance
NYSE:OI opened at $12.63 on Friday. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 4.30, a PEG ratio of 1.31 and a beta of 1.44. O-I Glass has a 1 year low of $10.64 and a 1 year high of $17.94. The business has a 50 day simple moving average of $13.71 and a 200-day simple moving average of $13.84. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.47 and a quick ratio of 1.03.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of OI. Vanguard Group Inc. boosted its position in O-I Glass by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 19,347,616 shares of the industrial products company’s stock valued at $255,003,000 after acquiring an additional 376,759 shares in the last quarter. State Street Corp boosted its position in O-I Glass by 2.7% during the 1st quarter. State Street Corp now owns 5,772,232 shares of the industrial products company’s stock valued at $76,078,000 after acquiring an additional 152,703 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in O-I Glass by 0.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 5,317,654 shares of the industrial products company’s stock valued at $73,915,000 after acquiring an additional 43,563 shares in the last quarter. Private Management Group Inc. boosted its position in O-I Glass by 2.3% during the 1st 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. Finally, Victory Capital Management Inc. boosted its position in O-I Glass by 4,760.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,624,316 shares of the industrial products company’s stock valued at $36,740,000 after acquiring an additional 2,570,323 shares in the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.
About O-I Glass
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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