Bank of America Issues Positive Forecast for O-I Glass (NYSE:OI) Stock Price

O-I Glass (NYSE:OI) had its price target boosted by investment analysts at Bank of America from $14.00 to $15.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Bank of America‘s price target indicates a potential upside of 34.77% from the stock’s current price.

OI has been the topic of a number of other reports. StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Barclays reduced their price objective on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Royal Bank of Canada dropped their target price on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Wells Fargo & Company reduced their price target on shares of O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday. Finally, Citigroup increased their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $15.88.

O-I Glass Trading Up 5.3 %

NYSE OI traded up $0.56 on Monday, reaching $11.13. The company had a trading volume of 452,872 shares, compared to its average volume of 1,066,493. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -4.03 and a beta of 1.21. O-I Glass has a fifty-two week low of $9.85 and a fifty-two week high of $17.58. The business has a 50 day moving average of $11.78 and a two-hundred day moving average of $11.97. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.23 and a quick ratio of 0.77.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.08). O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the business posted $0.80 EPS. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. Analysts forecast that O-I Glass will post 0.76 EPS for the current year.

Institutional Trading of O-I Glass

Institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in O-I Glass by 8.8% during 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. Geode Capital Management LLC boosted its stake in shares of O-I Glass by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,568,443 shares of the industrial products company’s stock worth $46,827,000 after buying an additional 37,238 shares during the last quarter. Levin Capital Strategies L.P. grew its holdings in shares of O-I Glass by 25.0% in the second quarter. Levin Capital Strategies L.P. now owns 3,511,413 shares of the industrial products company’s stock valued at $39,082,000 after acquiring an additional 703,308 shares in the last quarter. Private Management Group Inc. increased its position in shares of O-I Glass by 20.8% during the third quarter. Private Management Group Inc. now owns 3,025,731 shares of the industrial products company’s stock valued at $39,698,000 after acquiring an additional 520,452 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new stake in O-I Glass during the third quarter worth $32,350,000. Institutional investors own 97.24% of the company’s stock.

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.