O-I Glass, Inc. (NYSE:OI) Receives $10.31 Consensus Target Price from Analysts

Shares of O-I Glass, Inc. (NYSE:OI) have received an average rating of “Hold” from the nine ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $10.3125.

Several analysts have recently issued reports on OI shares. Weiss Ratings raised O-I Glass from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 14th. Truist Financial cut their target price on shares of O-I Glass from $13.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Robert W. Baird set a $13.00 price target on shares of O-I Glass in a research report on Thursday, July 30th. Royal Bank Of Canada downgraded shares of O-I Glass from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $10.00 to $8.00 in a research note on Thursday, August 13th. Finally, Citigroup upgraded shares of O-I Glass from a “neutral” rating to a “buy” rating and increased their price objective for the company from $8.00 to $9.00 in a research report on Friday, August 21st.

Institutional Trading of O-I Glass

Several hedge funds have recently made changes to their positions in OI. Sequoia Financial Advisors LLC purchased a new stake in O-I Glass during the 2nd quarter worth approximately $139,000. IPG Investment Advisors LLC raised its holdings in shares of O-I Glass by 4.7% in the second quarter. IPG Investment Advisors LLC now owns 548,063 shares of the industrial products company’s stock worth $5,278,000 after buying an additional 24,705 shares during the last quarter. Waverly Advisors LLC acquired a new stake in shares of O-I Glass during the second quarter worth $135,000. Corient Private Wealth LP purchased a new stake in shares of O-I Glass during the second quarter valued at $254,000. Finally, Amundi increased its position in shares of O-I Glass by 5.3% in the 2nd quarter. Amundi now owns 178,649 shares of the industrial products company’s stock valued at $1,721,000 after acquiring an additional 8,921 shares during the period. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

O-I Glass Stock Performance

NYSE OI opened at $6.40 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 8.89. O-I Glass has a twelve month low of $6.29 and a twelve month high of $16.91. The business has a 50-day moving average price of $7.73 and a 200-day moving average price of $9.17. The firm has a market cap of $983.12 million, a price-to-earnings ratio of -0.85, a price-to-earnings-growth ratio of 2.32 and a beta of 0.66.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.15). The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.68 billion. O-I Glass had a negative net margin of 18.13% and a positive return on equity of 10.40%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 EPS. As a group, equities research analysts predict that O-I Glass will post 0.39 EPS for the current fiscal year.

About O-I Glass

O-I Glass, Inc (NYSE: OI) is a global manufacturer of glass packaging. The company produces bottles and jars primarily for the food, beverage, beer, wine, spirits, and nonalcoholic beverage industries, as well as containers for certain pharmaceutical and other consumer products.

O-I Glass provides packaging solutions that include container design, lightweighting, glass decoration, and related technical services. Its products are made from glass, a material that can be recycled repeatedly without loss of quality, supporting the company’s focus on recyclable and more sustainable packaging.

The company traces its history to the Owens Bottle Company, founded in 1903, and later became known as Owens-Illinois before adopting the O-I Glass name.