O-I Glass, Inc. (NYSE:OI) Given Average Recommendation of “Moderate Buy” by Analysts

O-I Glass, Inc. (NYSE:OI) has received an average recommendation of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $16.63.

A number of equities research analysts have issued reports on OI shares. Wells Fargo & Company cut their price target on shares of O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Truist Financial reaffirmed a “buy” rating and set a $16.00 price target (down previously from $17.00) on shares of O-I Glass in a research report on Thursday, August 1st. Citigroup lifted their price objective on O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada reduced their target price on O-I Glass from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Finally, UBS Group dropped their price target on O-I Glass from $26.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th.

Insider Activity at O-I Glass

In other O-I Glass news, Director John Humphrey bought 15,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average price of $11.30 per share, with a total value of $169,500.00. Following the completion of the purchase, the director now owns 84,227 shares of the company’s stock, valued at approximately $951,765.10. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.49% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On O-I Glass

Several large investors have recently modified their holdings of OI. Levin Capital Strategies L.P. increased its stake in O-I Glass by 66.0% during the 1st quarter. Levin Capital Strategies L.P. now owns 2,808,105 shares of the industrial products company’s stock valued at $46,586,000 after purchasing an additional 1,116,340 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in shares of O-I Glass in the 1st quarter worth $14,603,000. Dimensional Fund Advisors LP raised its stake in shares of O-I Glass by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,093,723 shares of the industrial products company’s stock worth $78,952,000 after purchasing an additional 573,300 shares during the last quarter. Private Management Group Inc. lifted its holdings in shares of O-I Glass by 21.3% during the second quarter. Private Management Group Inc. now owns 2,505,279 shares of the industrial products company’s stock valued at $27,884,000 after purchasing an additional 439,838 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in O-I Glass by 27.5% in the 2nd quarter. Millennium Management LLC now owns 1,965,426 shares of the industrial products company’s stock worth $21,875,000 after buying an additional 424,102 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Up 0.7 %

Shares of NYSE:OI opened at $13.19 on Friday. The stock has a market capitalization of $2.05 billion, a P/E ratio of -6.87, a price-to-earnings-growth ratio of 1.90 and a beta of 1.17. The stock’s 50-day moving average price is $12.67 and its 200-day moving average price is $12.71. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 2.85. O-I Glass has a 12-month low of $10.08 and a 12-month high of $17.58.

O-I Glass (NYSE:OI) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.77 billion. O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. The business’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS. On average, equities analysts anticipate that O-I Glass will post 1.13 earnings per share for the current year.

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.