O-I Glass, Inc. (NYSE:OI) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of O-I Glass, Inc. (NYSE:OI) have earned a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $22.67.

OI has been the topic of a number of analyst reports. Citigroup lowered shares of O-I Glass from a “buy” rating to a “neutral” rating and upped their price objective for the company from $17.00 to $18.00 in a research note on Wednesday, January 3rd. StockNews.com downgraded shares of O-I Glass from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. TheStreet lowered shares of O-I Glass from a “b-” rating to a “c-” rating in a research report on Tuesday, February 6th. Bank of America restated a “neutral” rating and set a $16.00 price objective (down previously from $21.00) on shares of O-I Glass in a report on Friday, April 19th. Finally, UBS Group initiated coverage on shares of O-I Glass in a report on Tuesday, January 16th. They set a “buy” rating and a $26.00 price objective for the company.

O-I Glass Price Performance

Shares of NYSE:OI opened at $14.89 on Friday. The firm has a 50 day moving average of $16.09 and a 200-day moving average of $15.62. The stock has a market capitalization of $2.32 billion, a PE ratio of -19.91, a PEG ratio of 1.03 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. O-I Glass has a 12 month low of $13.56 and a 12 month high of $23.57.

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 company had revenue of $1.64 billion for the quarter, compared to analyst estimates 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 was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 EPS. On average, equities research analysts predict that O-I Glass will post 2.33 EPS for the current fiscal year.

Institutional Investors Weigh In On O-I Glass

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in O-I Glass by 12.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,615,054 shares of the industrial products company’s stock valued at $108,358,000 after purchasing an additional 728,493 shares during the period. Assenagon Asset Management S.A. grew its position in shares of O-I Glass by 32.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,644,360 shares of the industrial products company’s stock worth $43,870,000 after buying an additional 641,493 shares during the period. Cooper Creek Partners Management LLC grew its position in shares of O-I Glass by 39.6% in the 3rd quarter. Cooper Creek Partners Management LLC now owns 2,200,187 shares of the industrial products company’s stock worth $36,809,000 after buying an additional 623,705 shares during the period. Luminus Management LLC grew its position in shares of O-I Glass by 69.4% in the 3rd quarter. Luminus Management LLC now owns 2,140,678 shares of the industrial products company’s stock worth $35,814,000 after buying an additional 877,172 shares during the period. Finally, Private Management Group Inc. grew its position in shares of O-I Glass by 0.7% in the 4th quarter. Private Management Group Inc. now owns 2,051,886 shares of the industrial products company’s stock worth $33,610,000 after buying an additional 14,018 shares during the period. 97.24% of the stock is currently 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.