O-I Glass, Inc. (NYSE:OI) Receives Average Recommendation of “Hold” from Brokerages

Shares of O-I Glass, Inc. (NYSE:OI) have been given a consensus recommendation of “Hold” by the nine analysts that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $10.3125.

A number of analysts have issued reports on the company. Royal Bank Of Canada downgraded O-I Glass from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $10.00 to $8.00 in a report on Thursday, August 13th. UBS Group decreased their target price on shares of O-I Glass from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. BNP Paribas Exane cut 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. Robert W. Baird set a $13.00 target price on O-I Glass in a research note on Thursday, July 30th. Finally, Wells Fargo & Company decreased their price target on O-I Glass from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th.

O-I Glass Trading Down 1.8%

NYSE:OI opened at $6.09 on Friday. The stock has a fifty day moving average price of $7.46 and a 200 day moving average price of $9.00. 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 $6.07 and a 12-month high of $16.91. The firm has a market cap of $935.17 million, a PE ratio of -0.81, a price-to-earnings-growth ratio of 2.20 and a beta of 0.66.

O-I Glass (NYSE:OI) last issued its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.15). The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.68 billion. O-I Glass had a positive return on equity of 10.40% and a negative net margin of 18.13%.The firm’s 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. Sell-side analysts anticipate that O-I Glass will post 0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

O-I Glass Company Profile

O-I Glass, Inc (NYSE: OI) is a global manufacturer of glass packaging. The company produces bottles and jars primarily for the food, beverage, beer, wine, spirits, and nonalcoholic beverage industries, as well as containers for certain pharmaceutical and other consumer products.

O-I Glass provides packaging solutions that include container design, lightweighting, glass decoration, and related technical services. Its products are made from glass, a material that can be recycled repeatedly without loss of quality, supporting the company’s focus on recyclable and more sustainable packaging.

The company traces its history to the Owens Bottle Company, founded in 1903, and later became known as Owens-Illinois before adopting the O-I Glass name.