Truist Financial Reaffirms Buy Rating for O-I Glass (NYSE:OI)

Truist Financial reaffirmed their buy rating on shares of O-I Glass (NYSE:OI) in a research note released on Monday morning, Benzinga reports. Truist Financial currently has a $20.00 price target on the industrial products company’s stock.

Other equities analysts also recently issued reports about the stock. StockNews.com downgraded shares of O-I Glass from a buy rating to a hold rating in a report on Thursday, February 15th. Barclays lifted their price target on shares of O-I Glass from $16.00 to $18.00 and gave the company an equal weight rating in a report on Tuesday, February 13th. TheStreet downgraded shares of O-I Glass from a b- rating to a c- rating in a report on Tuesday, February 6th. UBS Group started coverage on shares of O-I Glass in a report on Tuesday, January 16th. They set a buy rating and a $26.00 price target for the company. Finally, Citigroup downgraded shares of O-I Glass from a buy rating to a neutral rating and lifted their price target for the company from $17.00 to $18.00 in a report on Wednesday, January 3rd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $24.00.

O-I Glass Stock Performance

NYSE OI opened at $16.19 on Monday. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.23 and a quick ratio of 0.77. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of -21.59, a P/E/G ratio of 1.06 and a beta of 1.35. The company’s fifty day moving average is $15.88 and its two-hundred day moving average is $15.84. O-I Glass has a 52-week low of $13.56 and a 52-week high of $23.57.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. O-I Glass had a negative net margin of 1.45% and a positive return on equity of 24.90%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the firm earned $0.38 EPS. Equities research analysts forecast that O-I Glass will post 2.38 EPS for the current year.

Hedge Funds Weigh In On O-I Glass

A number of hedge funds and other institutional investors have recently bought and sold shares of OI. Covestor Ltd boosted its position in shares of O-I Glass by 259.7% in the 3rd quarter. Covestor Ltd now owns 1,669 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 1,205 shares during the last quarter. Belpointe Asset Management LLC boosted its position in shares of O-I Glass by 109.4% in the 1st quarter. Belpointe Asset Management LLC now owns 1,518 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 793 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of O-I Glass in the 1st quarter worth $34,000. TFO Wealth Partners LLC boosted its position in shares of O-I Glass by 24,311.1% in the 4th quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 2,188 shares during the last quarter. Finally, Quarry LP boosted its position in shares of O-I Glass by 499.3% in the 1st quarter. Quarry LP now owns 1,744 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 1,453 shares during the last quarter. 97.24% of the stock is owned by institutional investors.

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.