O-I Glass, Inc. (NYSE:OI) Receives $17.56 Average Price Target from Analysts

Shares of O-I Glass, Inc. (NYSE:OI) have received an average rating of “Hold” from the ten analysts that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $17.5556.

Several equities analysts recently commented on OI shares. Wells Fargo & Company cut O-I Glass from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $18.00 to $13.00 in a research report on Friday. Wall Street Zen lowered O-I Glass from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. UBS Group reaffirmed a “buy” rating and issued a $21.00 target price on shares of O-I Glass in a research note on Thursday, February 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of O-I Glass in a research note on Thursday, January 22nd. Finally, Royal Bank Of Canada decreased their price target on shares of O-I Glass from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th.

O-I Glass Price Performance

OI stock opened at $10.39 on Friday. The firm has a 50 day moving average of $13.98 and a 200-day moving average of $13.59. The firm has a market capitalization of $1.58 billion, a P/E ratio of -12.36, a price-to-earnings-growth ratio of 0.64 and a beta of 0.82. O-I Glass has a 12 month low of $9.23 and a 12 month high of $16.91. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 3.35.

O-I Glass (NYSE:OI) last posted its earnings results on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.52 billion. O-I Glass had a negative net margin of 2.01% and a positive return on equity of 18.07%. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) EPS. As a group, sell-side analysts predict that O-I Glass will post 1.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OI. Vanguard Group Inc. increased its holdings in shares of O-I Glass by 3.7% in the third quarter. Vanguard Group Inc. now owns 19,349,218 shares of the industrial products company’s stock worth $250,959,000 after buying an additional 691,989 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of O-I Glass by 3.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,509,444 shares of the industrial products company’s stock valued at $125,600,000 after acquiring an additional 277,205 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in O-I Glass by 0.7% during the 3rd quarter. Alliancebernstein L.P. now owns 7,996,786 shares of the industrial products company’s stock valued at $103,718,000 after acquiring an additional 56,945 shares during the period. Geode Capital Management LLC boosted its holdings in O-I Glass by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 3,783,387 shares of the industrial products company’s stock valued at $55,852,000 after acquiring an additional 22,430 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in O-I Glass by 288.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,215,632 shares of the industrial products company’s stock worth $47,463,000 after acquiring an additional 2,388,299 shares during the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

About O-I Glass

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.