Analysts Set O-I Glass, Inc. (NYSE:OI) Price Target at $16.67

by · The Cerbat Gem

Shares of O-I Glass, Inc. (NYSE:OI – Get Free Report) have received a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $17.5556.

A number of equities research analysts have recently commented on OI shares. Weiss Ratings reissued a “sell (d-)” rating on shares of O-I Glass in a research note on Wednesday, October 8th. Truist Financial upped their price target on shares of O-I Glass from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday. Wells Fargo & Company upgraded shares of O-I Glass from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $15.00 to $18.00 in a research note on Tuesday. Citigroup upped their target price on shares of O-I Glass from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Wall Street Zen cut shares of O-I Glass from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 28th.

Check Out Our Latest Stock Analysis on O-I Glass

Institutional Trading of O-I Glass

A number of institutional investors and hedge funds have recently modified their holdings of OI. Headlands Technologies LLC purchased a new position in shares of O-I Glass in the second quarter worth $29,000. Smartleaf Asset Management LLC increased its holdings in O-I Glass by 64.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock worth $35,000 after buying an additional 918 shares in the last quarter. State of Wyoming purchased a new position in O-I Glass in the 2nd quarter worth about $35,000. GAMMA Investing LLC lifted its stake in O-I Glass by 31.7% during the 2nd quarter. GAMMA Investing LLC now owns 3,403 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 820 shares during the period. Finally, Neo Ivy Capital Management bought a new position in O-I Glass during the 2nd quarter valued at about $51,000. Institutional investors own 97.24% of the company’s stock.

O-I Glass Price Performance

Shares of OI opened at $15.17 on Monday. O-I Glass has a fifty-two week low of $9.23 and a fifty-two week high of $16.04. The firm’s 50-day simple moving average is $13.89 and its two-hundred day simple moving average is $13.58. The stock has a market cap of $2.33 billion, a PE ratio of -16.13, a price-to-earnings-growth ratio of 0.19 and a beta of 0.77. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.84 and a current ratio of 1.33.

O-I Glass (NYSE:OI – Get Free Report) last issued its quarterly earnings results on Wednesday, March 1st. The industrial products company reported $0.36 EPS for the quarter. The firm had revenue of $1.59 billion for the quarter. O-I Glass had a positive return on equity of 16.02% and a negative net margin of 2.26%. Analysts anticipate that O-I Glass will post 1.33 earnings per share for the current fiscal year.

O-I Glass Company Profile

(Get Free Report)

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.

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