O-I Glass, Inc. (OI) – What Are Researchers Thinking About This Stock?

by · The Cerbat Gem

O-I Glass, Inc. (NYSE:OI – Get Free Report) has earned an average recommendation of “Hold” from the nine brokerages that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $9.69.

A number of brokerages recently issued reports on OI. Citigroup raised shares of O-I Glass from a “neutral” rating to a “buy” rating and lifted their price target for the company from $8.00 to $9.00 in a research report on Friday, August 21st. Zacks Research upgraded O-I Glass from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Truist Financial lowered their price objective on shares of O-I Glass from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Bank of America reissued an “underperform” rating and issued a $11.00 target price on shares of O-I Glass in a report on Tuesday, July 14th. Finally, BNP Paribas Exane downgraded shares of O-I Glass from an “outperform” rating to a “neutral” rating and set a $8.50 price target on the stock. in a research report on Thursday, July 30th.

Read Our Latest Stock Analysis on O-I Glass

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of OI. BlackRock Inc. bought a new position in O-I Glass in the 2nd quarter worth approximately $225,727,000. Dimensional Fund Advisors LP boosted its holdings in shares of O-I Glass by 8.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,238,635 shares of the industrial products company’s stock valued at $97,094,000 after purchasing an additional 729,191 shares during the last quarter. Cooper Creek Partners Management LLC boosted its stake in O-I Glass by 73.8% during the first quarter. Cooper Creek Partners Management LLC now owns 7,006,293 shares of the industrial products company’s stock valued at $73,636,000 after buying an additional 2,975,181 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of O-I Glass by 32.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,246,337 shares of the industrial products company’s stock valued at $44,629,000 after purchasing an additional 1,030,705 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of O-I Glass by 15.6% in the 1st quarter. Bank of America Corp DE now owns 3,563,497 shares of the industrial products company’s stock worth $37,452,000 after buying an additional 479,608 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

O-I Glass Trading Down 0.1%

NYSE:OI opened at $6.08 on Wednesday. The company has a 50-day moving average price of $6.59 and a 200-day moving average price of $8.41. The stock has a market cap of $933.48 million, a price-to-earnings ratio of -0.81, a P/E/G ratio of 2.75 and a beta of 0.68. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 8.89. O-I Glass has a 12 month low of $5.30 and a 12 month high of $16.91.

O-I Glass (NYSE:OI – Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.15). The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.68 billion. O-I Glass had a negative net margin of 18.13% and a positive return on equity of 10.40%. O-I Glass’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 EPS. Equities analysts predict that O-I Glass will post 0.30 EPS for the current year.

O-I Glass Company Profile

(Get Free Report)

O-I Glass, Inc (NYSE: OI) is a global manufacturer of glass packaging. The company produces glass bottles and jars for food, beverages, beer, wine, spirits, pharmaceuticals and other consumer products, serving brand owners and manufacturers that use glass containers for packaging.

The company operates glass-container manufacturing facilities and provides related design, engineering and packaging services. Its products are used across a range of markets and geographies, including North and South America, Europe and other international markets.

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