O-I Glass, Inc. (NYSE:OI) Receives Average Recommendation of “Hold” from Brokerages

Shares of O-I Glass, Inc. (NYSE:OI) have been given an average rating of “Hold” by the nine analysts that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $10.3125.

Several brokerages recently issued reports on OI. Citigroup upgraded shares of O-I Glass from a “neutral” rating to a “buy” rating and upped their target price for the stock from $8.00 to $9.00 in a research report on Friday. Royal Bank Of Canada downgraded O-I Glass from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $10.00 to $8.00 in a research report on Thursday, August 13th. Bank of America reaffirmed an “underperform” rating and set a $11.00 price target on shares of O-I Glass in a research note on Tuesday, July 14th. BNP Paribas Exane cut O-I Glass from an “outperform” rating to a “neutral” rating and set a $8.50 price objective for the company. in a report on Thursday, July 30th. Finally, Truist Financial reduced their price objective on O-I Glass from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th.

O-I Glass Trading Up 1.2%

Shares of O-I Glass stock opened at $7.26 on Tuesday. The company has a debt-to-equity ratio of 8.89, a current ratio of 1.26 and a quick ratio of 0.77. O-I Glass has a 1 year low of $6.29 and a 1 year high of $16.91. The firm has a market cap of $1.12 billion, a PE ratio of -0.97, a PEG ratio of 2.33 and a beta of 0.66. The company has a 50 day simple moving average of $8.47 and a two-hundred day simple moving average of $10.06.

O-I Glass (NYSE:OI) last issued its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.15). The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.68 billion. O-I Glass had a positive return on equity of 10.40% and a negative net margin of 18.13%.O-I Glass’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 EPS. Analysts expect that O-I Glass will post 0.42 earnings per share for the current fiscal year.

Institutional Trading of O-I Glass

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its stake in shares of O-I Glass by 33.9% during the first quarter. Royal Bank of Canada now owns 112,800 shares of the industrial products company’s stock worth $1,294,000 after acquiring an additional 28,548 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of O-I Glass by 154.0% in the 1st quarter. AQR Capital Management LLC now owns 177,117 shares of the industrial products company’s stock valued at $1,993,000 after purchasing an additional 107,388 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of O-I Glass by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,151 shares of the industrial products company’s stock valued at $1,057,000 after purchasing an additional 4,055 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of O-I Glass in the 1st quarter valued at $119,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of O-I Glass by 43.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 526,279 shares of the industrial products company’s stock valued at $6,036,000 after purchasing an additional 160,649 shares during the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Company Profile

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.