O-I Glass (NYSE:OI) Rating Reiterated by Truist Financial

Truist Financial restated their buy rating on shares of O-I Glass (NYSE:OI) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $20.00 price target on the industrial products company’s stock.

OI has been the topic of a number of other reports. Barclays raised their price objective on shares of O-I Glass from $16.00 to $18.00 and gave the company an equal weight rating in a research note on Tuesday, February 13th. Citigroup lowered O-I Glass from a buy rating to a neutral rating and raised their price target for the stock from $17.00 to $18.00 in a research report on Wednesday, January 3rd. UBS Group started coverage on O-I Glass in a research report on Tuesday, January 16th. They issued a buy rating and a $26.00 price target on the stock. TheStreet lowered O-I Glass from a b- rating to a c- rating in a research report on Tuesday, February 6th. Finally, StockNews.com lowered O-I Glass from a buy rating to a hold rating in a research report on Thursday, February 15th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, O-I Glass has a consensus rating of Moderate Buy and an average target price of $24.00.

O-I Glass Trading Up 3.7 %

Shares of NYSE OI opened at $16.19 on Monday. O-I Glass has a 1-year low of $13.56 and a 1-year high of $23.57. The company has a market cap of $2.49 billion, a PE ratio of -21.59, a P/E/G ratio of 1.06 and a beta of 1.35. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 2.69. The company has a 50-day moving average of $15.88 and a two-hundred day moving average of $15.84.

O-I Glass (NYSE:OI) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $0.12 earnings per share for the quarter, topping 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 company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the firm posted $0.38 earnings per share. The company’s revenue was down 3.1% on a year-over-year basis. As a group, equities analysts expect that O-I Glass will post 2.38 earnings per share for the current fiscal year.

Institutional Trading of O-I Glass

A number of institutional investors have recently modified their holdings of the company. Hennessy Advisors Inc. bought a new stake in shares of O-I Glass in the fourth quarter valued at about $2,324,000. Goldman Sachs Group Inc. increased its position in shares of O-I Glass by 8.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,474,863 shares of the industrial products company’s stock valued at $24,158,000 after acquiring an additional 115,728 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of O-I Glass by 3.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 110,936 shares of the industrial products company’s stock valued at $1,818,000 after acquiring an additional 3,452 shares during the last quarter. Oarsman Capital Inc. increased its position in shares of O-I Glass by 2.1% in the fourth quarter. Oarsman Capital Inc. now owns 220,982 shares of the industrial products company’s stock valued at $3,620,000 after acquiring an additional 4,517 shares during the last quarter. Finally, GTS Securities LLC acquired a new position in O-I Glass during the fourth quarter worth approximately $714,000. 97.24% of the stock is currently owned by institutional investors.

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.