O-I Glass (NYSE:OI) Shares Gap Down to $15.42

Shares of O-I Glass, Inc. (NYSE:OI) gapped down prior to trading on Friday . The stock had previously closed at $15.42, but opened at $14.75. O-I Glass shares last traded at $14.51, with a volume of 535,608 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. 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 target for the company. TheStreet downgraded shares of O-I Glass from a “b-” rating to a “c-” rating in a research report on Tuesday, February 6th. Citigroup downgraded shares of O-I Glass from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $17.00 to $18.00 in a research report on Wednesday, January 3rd. Bank of America restated a “neutral” rating and set a $16.00 price objective (down previously from $21.00) on shares of O-I Glass in a research report on Friday. Finally, Barclays upped their price objective on shares of O-I Glass from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 13th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $22.67.

O-I Glass Stock Performance

The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of -20.56, a PEG ratio of 1.04 and a beta of 1.35. The stock’s 50 day moving average is $16.18 and its 200 day moving average is $15.66. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 2.69.

O-I Glass (NYSE:OI) last issued its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. O-I Glass had a negative net margin of 1.45% and a positive return on equity of 24.90%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the company earned $0.38 EPS. The firm’s revenue was down 3.1% on a year-over-year basis. On average, analysts predict that O-I Glass, Inc. will post 2.37 earnings per share for the current year.

Institutional Investors Weigh In On O-I Glass

Several hedge funds have recently modified their holdings of the company. Citigroup Inc. lifted its holdings in shares of O-I Glass by 6.8% during the 1st quarter. Citigroup Inc. now owns 135,235 shares of the industrial products company’s stock worth $1,783,000 after acquiring an additional 8,576 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of O-I Glass by 4.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 74,856 shares of the industrial products company’s stock worth $986,000 after acquiring an additional 3,197 shares during the period. Natixis Advisors L.P. lifted its holdings in shares of O-I Glass by 28.0% during the 1st quarter. Natixis Advisors L.P. now owns 23,746 shares of the industrial products company’s stock worth $313,000 after acquiring an additional 5,200 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of O-I Glass by 52.5% during the 1st quarter. MetLife Investment Management LLC now owns 78,076 shares of the industrial products company’s stock worth $1,029,000 after acquiring an additional 26,893 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of O-I Glass by 2.8% during the 1st quarter. Rhumbline Advisers now owns 413,166 shares of the industrial products company’s stock worth $5,446,000 after acquiring an additional 11,382 shares during the period. 97.24% of the stock is owned by institutional investors and hedge funds.

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.