Weekly Investment Analysts’ Ratings Updates for O-I Glass (OI)

Several brokerages have updated their recommendations and price targets on shares of O-I Glass (NYSE: OI) in the last few weeks:

• 5/5/2023 – O-I Glass was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 5/1/2023 – O-I Glass had its price target raised by analysts at Barclays PLC from $18.00 to $19.00.
• 4/27/2023 – O-I Glass was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 4/27/2023 – O-I Glass had its price target raised by analysts at Truist Financial Co. from $27.00 to $31.00.
• 4/27/2023 – O-I Glass had its price target raised by analysts at Royal Bank of Canada from $34.00 to $37.00.
• 4/27/2023 – O-I Glass had its price target raised by analysts at Robert W. Baird from $26.00 to $30.00.
• 4/5/2023 – O-I Glass had its price target raised by analysts at Wells Fargo & Company from $27.00 to $28.00. They now have an “overweight” rating on the stock.

O-I Glass Price Performance

NYSE:OI opened at $21.13 on Tuesday. O-I Glass, Inc. has a 1-year low of $11.60 and a 1-year high of $23.52. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.22 and a quick ratio of 0.77. The company has a 50 day moving average price of $21.85 and a 200-day moving average price of $19.68. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 4.79, a price-to-earnings-growth ratio of 0.48 and a beta of 1.36.

O-I Glass (NYSE:OI – Get Rating) last issued its earnings results on Tuesday, April 25th. The industrial products company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.46. The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.78 billion. O-I Glass had a net margin of 10.04% and a return on equity of 31.48%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 earnings per share. Equities research analysts forecast that O-I Glass, Inc. will post 3.19 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund boosted its stake in shares of O-I Glass by 0.3% in the third quarter. New York State Common Retirement Fund now owns 613,152 shares of the industrial products company’s stock valued at $7,940,000 after purchasing an additional 1,950 shares during the period. Martingale Asset Management L P purchased a new position in O-I Glass in the third quarter worth approximately $416,000. Point72 Asset Management L.P. lifted its stake in O-I Glass by 7,574.7% in the third quarter. Point72 Asset Management L.P. now owns 1,074,462 shares of the industrial products company’s stock worth $13,914,000 after acquiring an additional 1,060,462 shares during the last quarter. AlphaCrest Capital Management LLC purchased a new position in O-I Glass in the third quarter worth approximately $736,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in O-I Glass by 2.6% in the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 623,573 shares of the industrial products company’s stock worth $10,333,000 after acquiring an additional 15,600 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

O-I Glass, Inc engages in manufacturing of glass products. It offers products to the food and beverage sectors. The firm operates through the following geographical segments: Americas, Europe, and Asia Pacific. The company was founded in 1929 and is headquartered in Perrysburg, OH.