O-I Glass (NYSE:OI) Price Target Raised to $21.00 at Truist Financial

O-I Glass (NYSE:OI) had its price objective boosted by research analysts at Truist Financial from $17.00 to $21.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target would suggest a potential upside of 33.38% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and increased their price objective for the company from $14.00 to $17.00 in a research note on Monday, November 17th. Wells Fargo & Company upgraded O-I Glass from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $15.00 to $18.00 in a report on Tuesday. Citigroup restated a “neutral” rating on shares of O-I Glass in a report on Tuesday. Wall Street Zen lowered shares of O-I Glass from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 28th. Finally, Zacks Research raised shares of O-I Glass from a “hold” rating to a “strong-buy” rating in a report on Friday. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $17.44.

O-I Glass Price Performance

OI stock opened at $15.75 on Tuesday. O-I Glass has a 1 year low of $9.23 and a 1 year high of $16.04. The company has a 50 day simple moving average of $13.75 and a 200 day simple moving average of $13.55. The company has a debt-to-equity ratio of 3.36, a current ratio of 1.33 and a quick ratio of 0.84. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of -16.79, a P/E/G ratio of 0.20 and a beta of 0.77.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC purchased a new position in shares of O-I Glass in the 2nd quarter worth about $29,000. State of Wyoming acquired a new stake in O-I Glass during the second quarter worth $35,000. Smartleaf Asset Management LLC boosted its holdings in O-I Glass by 64.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 918 shares in the last quarter. GAMMA Investing LLC lifted its holdings in O-I Glass by 31.7% in the second 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 purchased a new position in shares of O-I Glass during the 2nd quarter worth about $51,000. Institutional investors own 97.24% of the company’s stock.

O-I Glass Company Profile

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.