Analysts Set O-I Glass, Inc. (NYSE:OI) PT at $10.19

O-I Glass, Inc. (NYSE:OI) has received a consensus recommendation of “Hold” from the nine analysts that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $10.3125.

A number of research firms have weighed in on OI. Citigroup upgraded shares of O-I Glass from a “neutral” rating to a “buy” rating and boosted their target price for the company from $8.00 to $9.00 in a research note on Friday. Wells Fargo & Company decreased their price target on shares of O-I Glass from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Zacks Research raised shares of O-I Glass from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Bank of America reiterated an “underperform” rating and issued a $11.00 price objective on shares of O-I Glass in a research note on Tuesday, July 14th. Finally, Weiss Ratings upgraded O-I Glass from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 14th.

O-I Glass Trading Up 11.9%

NYSE OI opened at $7.14 on Tuesday. The business’s fifty day moving average is $8.50 and its 200-day moving average is $10.16. The company has a debt-to-equity ratio of 8.89, a current ratio of 1.26 and a quick ratio of 0.77. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -0.95, a PEG ratio of 2.33 and a beta of 0.66. O-I Glass has a one year low of $6.29 and a one year high of $16.91.

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

Institutional Trading of O-I Glass

Several hedge funds have recently made changes to their positions in OI. Oarsman Capital Inc. lifted its position in shares of O-I Glass by 57.4% during the 2nd quarter. Oarsman Capital Inc. now owns 111,650 shares of the industrial products company’s stock valued at $1,075,000 after buying an additional 40,725 shares during the last quarter. Two Sigma Securities LLC purchased a new stake in O-I Glass in the 2nd quarter worth about $149,000. Private Management Group Inc. raised its stake in O-I Glass by 6.6% in the 2nd quarter. Private Management Group Inc. now owns 3,083,693 shares of the industrial products company’s stock valued at $29,696,000 after acquiring an additional 189,939 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in O-I Glass by 57.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 470,229 shares of the industrial products company’s stock valued at $4,528,000 after acquiring an additional 170,764 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in O-I Glass by 30.7% during the second quarter. Hsbc Holdings PLC now owns 19,507 shares of the industrial products company’s stock valued at $188,000 after purchasing an additional 4,587 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors.

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.