O-I Glass, Inc. (NYSE:OI) Given Consensus Recommendation of “Moderate Buy” by Analysts

O-I Glass, Inc. (NYSE:OIGet Free Report) has earned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $24.00.

OI has been the subject of several recent research reports. StockNews.com lowered shares of O-I Glass from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. UBS Group began coverage on O-I Glass in a research note on Tuesday, January 16th. They set a “buy” rating and a $26.00 target price for the company. Citigroup lowered O-I Glass from a “buy” rating to a “neutral” rating and increased their price target for the company from $17.00 to $18.00 in a research report on Wednesday, January 3rd. Truist Financial reissued a “buy” rating and set a $20.00 price objective on shares of O-I Glass in a research report on Monday. Finally, TheStreet cut shares of O-I Glass from a “b-” rating to a “c-” rating in a report on Tuesday, February 6th.

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Institutional Trading of O-I Glass

Several hedge funds and other institutional investors have recently made changes to their positions in OI. Covestor Ltd grew its holdings in O-I Glass by 259.7% during the third quarter. Covestor Ltd now owns 1,669 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 1,205 shares during the period. Belpointe Asset Management LLC increased its holdings in shares of O-I Glass by 109.4% in the 1st quarter. Belpointe Asset Management LLC now owns 1,518 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 793 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of O-I Glass in the first quarter valued at about $34,000. TFO Wealth Partners LLC boosted its holdings in O-I Glass by 24,311.1% during the fourth quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock worth $36,000 after buying an additional 2,188 shares in the last quarter. Finally, Quarry LP grew its position in O-I Glass by 499.3% during the first quarter. Quarry LP now owns 1,744 shares of the industrial products company’s stock worth $40,000 after buying an additional 1,453 shares during the period. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Up 1.4 %

Shares of OI opened at $15.55 on Tuesday. O-I Glass has a 52-week low of $13.56 and a 52-week high of $23.57. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 2.69. The stock has a fifty day simple moving average of $15.84 and a two-hundred day simple moving average of $15.86. The company has a market capitalization of $2.39 billion, a PE ratio of -20.73, a price-to-earnings-growth ratio of 1.05 and a beta of 1.35.

O-I Glass (NYSE:OIGet Free Report) last announced 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 for the quarter, compared to analyst estimates of $1.63 billion. O-I Glass had a positive return on equity of 24.90% and a negative net margin of 1.45%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 EPS. As a group, equities analysts forecast that O-I Glass will post 2.38 EPS for the current 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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