O-I Glass (NYSE:OI) Shares Gap Down to $15.42

O-I Glass, Inc. (NYSE:OI)’s share price gapped down prior to trading on Friday . The stock had previously closed at $15.42, but opened at $14.75. O-I Glass shares last traded at $14.51, with a volume of 535,608 shares.

Analysts Set New Price Targets

Several equities research analysts have commented on OI shares. StockNews.com cut shares of O-I Glass from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Citigroup cut shares of O-I Glass from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $17.00 to $18.00 in a research report on Wednesday, January 3rd. TheStreet cut shares of O-I Glass from a “b-” rating to a “c-” rating in a research report on Tuesday, February 6th. Truist Financial reissued a “buy” rating and issued a $20.00 price target on shares of O-I Glass in a research note on Monday, March 25th. Finally, Barclays lifted their price target on O-I Glass from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 13th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $22.67.

O-I Glass Trading Down 6.5 %

The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of -20.56, a price-to-earnings-growth ratio of 1.04 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 fifty day moving average price of $16.18 and a 200-day moving average price of $15.66.

O-I Glass (NYSE:OI) last announced its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.09. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. O-I Glass had a positive return on equity of 24.90% and a negative net margin of 1.45%. The firm’s revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS. On average, equities research analysts predict that O-I Glass, Inc. will post 2.37 EPS for the current year.

Institutional Investors Weigh In On O-I Glass

Several institutional investors and hedge funds have recently added to or reduced their stakes in OI. Citigroup Inc. lifted its holdings in O-I Glass by 6.8% in the 1st quarter. Citigroup Inc. now owns 135,235 shares of the industrial products company’s stock worth $1,783,000 after purchasing an additional 8,576 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of O-I Glass by 4.5% during the first quarter. PNC Financial Services Group Inc. now owns 74,856 shares of the industrial products company’s stock worth $986,000 after buying an additional 3,197 shares during the last quarter. Natixis Advisors L.P. lifted its holdings in shares of O-I Glass by 28.0% during the first quarter. Natixis Advisors L.P. now owns 23,746 shares of the industrial products company’s stock worth $313,000 after buying an additional 5,200 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of O-I Glass by 52.5% during the first quarter. MetLife Investment Management LLC now owns 78,076 shares of the industrial products company’s stock worth $1,029,000 after buying an additional 26,893 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of O-I Glass by 2.8% during the first quarter. Rhumbline Advisers now owns 413,166 shares of the industrial products company’s stock worth $5,446,000 after buying an additional 11,382 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.

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.