Brokerages Set O-I Glass, Inc. (NYSE:OI) Price Target at $15.88

Shares of O-I Glass, Inc. (NYSE:OI) have been assigned an average rating of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $15.88.

Several equities research analysts recently weighed in on the stock. Barclays increased their target price on shares of O-I Glass from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $16.00 target price on shares of O-I Glass in a research note on Monday, March 17th. Wall Street Zen upgraded shares of O-I Glass from a “hold” rating to a “buy” rating in a research note on Saturday. Truist Financial reissued a “buy” rating and issued a $16.00 price target (up previously from $13.00) on shares of O-I Glass in a report on Thursday, May 1st. Finally, Citigroup raised their price objective on shares of O-I Glass from $11.00 to $14.00 and gave the stock a “neutral” rating in a report on Friday, May 9th.

Institutional Investors Weigh In On O-I Glass

Several large investors have recently made changes to their positions in the company. Highland Peak Capital LLC boosted its position in O-I Glass by 87.5% in the fourth quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company’s stock valued at $42,029,000 after buying an additional 1,809,237 shares in the last quarter. Cooper Creek Partners Management LLC raised its stake in shares of O-I Glass by 18.2% in the fourth quarter. Cooper Creek Partners Management LLC now owns 11,082,262 shares of the industrial products company’s stock valued at $120,132,000 after acquiring an additional 1,705,216 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of O-I Glass by 251.7% in the 4th quarter. Millennium Management LLC now owns 1,458,102 shares of the industrial products company’s stock worth $15,806,000 after acquiring an additional 1,043,570 shares in the last quarter. Mesirow Institutional Investment Management Inc. bought a new stake in O-I Glass during the 4th quarter worth approximately $10,885,000. Finally, MetLife Investment Management LLC grew its position in O-I Glass by 1,043.3% during the 1st quarter. MetLife Investment Management LLC now owns 1,074,764 shares of the industrial products company’s stock worth $12,328,000 after acquiring an additional 980,758 shares during the last quarter. Institutional investors own 97.24% of the company’s stock.

O-I Glass Trading Up 2.6%

Shares of OI stock opened at $13.40 on Friday. O-I Glass has a 12 month low of $9.23 and a 12 month high of $14.34. The company has a market cap of $2.07 billion, a PE ratio of -18.87, a price-to-earnings-growth ratio of 0.24 and a beta of 0.93. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. The business’s 50 day moving average is $12.03 and its two-hundred day moving average is $11.67.

O-I Glass (NYSE:OI) last posted its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.22. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.55 billion. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. O-I Glass’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 EPS. Equities analysts predict that O-I Glass will post 1.33 EPS for the current year.

O-I Glass Company Profile

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.