Analysts Set O-I Glass, Inc. (NYSE:OI) Price Target at $24.00

O-I Glass, Inc. (NYSE:OIGet Free Report) has earned an average rating of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $24.00.

Several equities research analysts have issued reports on the stock. Citigroup lowered shares of O-I Glass from a “buy” rating to a “neutral” rating and lifted their price target for the company from $17.00 to $18.00 in a research note on Wednesday, January 3rd. UBS Group initiated coverage on shares of O-I Glass in a research note on Tuesday, January 16th. They issued a “buy” rating and a $26.00 price target on the stock. Wells Fargo & Company lowered their price objective on shares of O-I Glass from $28.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, October 19th. Truist Financial boosted their price objective on shares of O-I Glass from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. Finally, TheStreet downgraded shares of O-I Glass from a “b-” rating to a “c-” rating in a report on Tuesday.

Read Our Latest Stock Report on O-I Glass

Institutional Trading of O-I Glass

Institutional investors have recently bought and sold shares of the business. Alberta Investment Management Corp boosted its holdings in O-I Glass by 152.3% in the 2nd quarter. Alberta Investment Management Corp now owns 159,814 shares of the industrial products company’s stock valued at $3,409,000 after purchasing an additional 96,480 shares during the period. Hussman Strategic Advisors Inc. bought a new stake in shares of O-I Glass during the 3rd quarter worth approximately $1,757,000. Mackenzie Financial Corp lifted its holdings in shares of O-I Glass by 15.5% during the 3rd quarter. Mackenzie Financial Corp now owns 18,929 shares of the industrial products company’s stock worth $304,000 after acquiring an additional 2,540 shares during the period. Great Lakes Advisors LLC lifted its holdings in shares of O-I Glass by 1.8% during the 2nd quarter. Great Lakes Advisors LLC now owns 569,899 shares of the industrial products company’s stock worth $12,156,000 after acquiring an additional 9,803 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of O-I Glass by 4.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 155,152 shares of the industrial products company’s stock worth $2,596,000 after acquiring an additional 6,580 shares during the period. Institutional investors own 91.29% of the company’s stock.

O-I Glass Stock Up 14.1 %

Shares of OI stock opened at $16.40 on Monday. O-I Glass has a 12-month low of $13.56 and a 12-month high of $23.57. The company has a quick ratio of 0.87, a current ratio of 1.40 and a debt-to-equity ratio of 2.25. The firm has a fifty day moving average of $15.57 and a 200-day moving average of $16.83. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 6.89, a P/E/G ratio of 0.90 and a beta of 1.32.

O-I Glass (NYSE:OIGet Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. O-I Glass had a net margin of 5.31% and a return on equity of 27.79%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the business posted $0.38 earnings per share. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. As a group, equities research analysts predict that O-I Glass will post 3 earnings per share for the current fiscal year.

About O-I Glass

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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.

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Analyst Recommendations for O-I Glass (NYSE:OI)

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