O-I Glass, Inc. (NYSE:OI) Receives Consensus Rating of “Moderate Buy” from Analysts

O-I Glass, Inc. (NYSE:OI) has been given an average recommendation of “Moderate Buy” by the eight ratings firms that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $22.67.

Several equities analysts recently commented on the stock. Citigroup lowered shares of O-I Glass from a “buy” rating to a “neutral” rating and increased their target price for the company from $17.00 to $18.00 in a report on Wednesday, January 3rd. Barclays raised their price target on shares of O-I Glass from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 13th. Truist Financial reissued a “buy” rating and issued a $20.00 price target on shares of O-I Glass in a report on Monday, March 25th. StockNews.com lowered shares of O-I Glass from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Finally, Bank of America reissued a “neutral” rating and issued a $16.00 price target (down previously from $21.00) on shares of O-I Glass in a report on Friday, April 19th.

Institutional Investors Weigh In On O-I Glass

A number of large investors have recently modified their holdings of OI. Assenagon Asset Management S.A. raised its holdings in O-I Glass by 32.0% in the first quarter. Assenagon Asset Management S.A. now owns 2,644,360 shares of the industrial products company’s stock worth $43,870,000 after buying an additional 641,493 shares during the last quarter. Leeward Investments LLC MA boosted its position in shares of O-I Glass by 36.0% in the first quarter. Leeward Investments LLC MA now owns 623,129 shares of the industrial products company’s stock worth $10,338,000 after purchasing an additional 165,103 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of O-I Glass in the first quarter worth $2,258,000. Diversified Trust Co lifted its holdings in shares of O-I Glass by 15.1% in the first quarter. Diversified Trust Co now owns 45,772 shares of the industrial products company’s stock worth $759,000 after buying an additional 6,020 shares in the last quarter. Finally, Hennessy Advisors Inc. lifted its holdings in shares of O-I Glass by 44.0% in the first quarter. Hennessy Advisors Inc. now owns 204,300 shares of the industrial products company’s stock worth $3,389,000 after buying an additional 62,400 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Performance

O-I Glass stock opened at $14.89 on Friday. The firm’s fifty day moving average price is $16.09 and its 200-day moving average price is $15.62. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.77 and a current ratio of 1.23. The stock has a market cap of $2.32 billion, a P/E ratio of -19.91, a price-to-earnings-growth ratio of 1.03 and a beta of 1.35. O-I Glass has a fifty-two week low of $13.56 and a fifty-two week high of $23.57.

O-I Glass (NYSE:OI) last released its 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. O-I Glass had a negative net margin of 1.45% and a positive return on equity of 24.90%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the firm earned $0.38 EPS. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, equities research analysts expect that O-I Glass will post 2.33 earnings per share for the current fiscal year.

About O-I Glass

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.