O-I Glass (NYSE:OI) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of O-I Glass (NYSE:OIFree Report) from a hold rating to a buy rating in a report published on Wednesday morning.

Several other research firms have also commented on OI. TheStreet lowered shares of O-I Glass from a b- rating to a c- rating in a research report on Tuesday. Truist Financial increased their price objective on shares of O-I Glass from $21.00 to $22.00 and gave the company a buy rating in a research report on Thursday, January 4th. Wells Fargo & Company decreased their price objective on shares of O-I Glass from $28.00 to $22.00 and set an overweight rating for the company in a research report on Thursday, October 19th. UBS Group assumed coverage on shares of O-I Glass in a research report on Tuesday, January 16th. They issued a buy rating and a $26.00 price objective for the company. Finally, Barclays decreased their price objective on shares of O-I Glass from $18.00 to $16.00 and set an equal weight rating for the company in a research report on Thursday, November 2nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, O-I Glass currently has a consensus rating of Moderate Buy and a consensus price target of $24.00.

View Our Latest Research Report on OI

O-I Glass Stock Down 3.7 %

NYSE:OI opened at $15.52 on Wednesday. O-I Glass has a 1-year low of $13.56 and a 1-year high of $23.57. The company has a 50-day moving average of $15.59 and a 200 day moving average of $16.77. The firm has a market cap of $2.40 billion, a PE ratio of -20.69, a price-to-earnings-growth ratio of 1.16 and a beta of 1.32. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.23 and a quick ratio of 0.87.

O-I Glass (NYSE:OIGet Free Report) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.03 by $0.09. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. O-I Glass had a negative net margin of 1.45% and a positive return on equity of 24.90%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.38 earnings per share. As a group, research analysts anticipate that O-I Glass will post 2.3 EPS for the current fiscal year.

Institutional Investors Weigh In On O-I Glass

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of O-I Glass by 0.7% during the 2nd quarter. BlackRock Inc. now owns 24,032,359 shares of the industrial products company’s stock worth $512,610,000 after purchasing an additional 168,807 shares during the period. Vanguard Group Inc. grew its stake in shares of O-I Glass by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 19,597,610 shares of the industrial products company’s stock worth $253,789,000 after purchasing an additional 291,640 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of O-I Glass by 12.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,615,054 shares of the industrial products company’s stock worth $108,358,000 after purchasing an additional 728,493 shares during the period. State Street Corp grew its stake in shares of O-I Glass by 0.9% during the 3rd quarter. State Street Corp now owns 5,841,163 shares of the industrial products company’s stock worth $75,643,000 after purchasing an additional 54,511 shares during the period. Finally, LSV Asset Management grew its stake in shares of O-I Glass by 0.4% during the 2nd quarter. LSV Asset Management now owns 3,285,573 shares of the industrial products company’s stock worth $70,081,000 after purchasing an additional 12,649 shares during the period. Institutional investors and hedge funds own 91.29% of the company’s stock.

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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