O-I Glass, Inc. (NYSE:OI) Given Consensus Recommendation of "Moderate Buy" by Analysts
Shares of O-I Glass, Inc. have received a consensus "Moderate Buy" rating from ten analysts, with a 12-month price target averaging $18.22. Recent analyst updates included a downgrade of the price target by Citigroup and an upgrade by Wells Fargo, which increased their target to $18.00. The company's stock opened at $14.74, with recent quarterly earnings slightly surpassing estimates, and its institutional investor holdings accounting for over 97% of shares.
Shares of O-I Glass, Inc. (NYSE:OI - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the ten analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $18.2222.
Several equities research analysts recently issued reports on the company. Citigroup dropped their price target on O-I Glass from $17.00 to $16.00 and set a "neutral" rating on the stock in a research report on Thursday, February 12th. Wells Fargo & Company raised shares of O-I Glass from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $15.00 to $18.00 in a report on Tuesday, January 6th. Wall Street Zen lowered shares of O-I Glass from a "strong-buy" rating to a "buy" rating in a report on Sunday, February 15th. Truist Financial boosted their price objective on shares of O-I Glass from $17.00 to $21.00 and gave the company a "buy" rating in a research report on Tuesday, January 6th. Finally, UBS Group reissued a "buy" rating and issued a $21.00 target price on shares of O-I Glass in a report on Thursday, February 12th.
Check Out Our Latest Stock Report on OI
O-I Glass Stock Performance
Shares of O-I Glass stock opened at $14.74 on Tuesday. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.77 and a current ratio of 1.25. O-I Glass has a 1 year low of $9.23 and a 1 year high of $16.91. The firm's 50-day simple moving average is $15.32 and its 200-day simple moving average is $13.78. The firm has a market cap of $2.25 billion, a PE ratio of -17.54, a price-to-earnings-growth ratio of 0.70 and a beta of 0.78.
O-I Glass (NYSE:OI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. O-I Glass had a positive return on equity of 18.07% and a negative net margin of 2.01%.The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the company earned ($0.05) earnings per share. O-I Glass's quarterly revenue was down 1.9% on a year-over-year basis. Equities analysts forecast that O-I Glass will post 1.33 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. increased its stake in shares of O-I Glass by 194.6% in the second quarter. Alliancebernstein L.P. now owns 7,939,841 shares of the industrial products company's stock valued at $117,033,000 after purchasing an additional 5,244,440 shares during the period. Wellington Management Group LLP acquired a new position in shares of O-I Glass during the fourth quarter valued at $40,090,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of O-I Glass by 288.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,215,632 shares of the industrial products company's stock valued at $47,463,000 after purchasing an additional 2,388,299 shares during the period. Brandywine Global Investment Management LLC bought a new stake in shares of O-I Glass during the fourth quarter valued at about $25,064,000. Finally, Bank of America Corp DE lifted its holdings in O-I Glass by 222.6% in the second quarter. Bank of America Corp DE now owns 2,206,251 shares of the industrial products company's stock worth $32,520,000 after purchasing an additional 1,522,384 shares during the period. 97.24% of the stock is currently owned by institutional investors.
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
Before you consider O-I Glass, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and O-I Glass wasn't on the list.
While O-I Glass currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
We are about to experience the greatest A.I. boom in stock market history...
Thanks to a pivotal economic catalyst, specific tech stocks will skyrocket just like they did during the "dot com" boom in the 1990s.
That’s why, we’ve hand-selected 7 tiny tech disruptor stocks positioned to surge.
The first pick is a tiny under-the-radar A.I. stock that's trading for just $3.00. This company already has 98 registered patents for cutting-edge voice and sound recognition technology... And has lined up major partnerships with some of the biggest names in the auto, tech, and music industry... plus many more. The second pick presents an affordable avenue to bolster EVs and AI development…. Analysts are calling this stock a “buy” right now and predict a high price target of $19.20, substantially more than its current $6 trading price. Our final and favorite pick is generating a brand-new kind of AI. It's believed this tech will be bigger than the current well-known leader in this industry… Analysts predict this innovative tech is gearing up to create a tidal wave of new wealth, fueling a $15.7 TRILLION market boom.
Right now, we’re staring down the barrel of a true once-in-a-lifetime moment. As an investment opportunity, this kind of breakthrough doesn't come along every day. And the window to get in on the ground-floor — maximizing profit potential from this expected market surge — is closing quickly...
Simply click the link below to get the names and tickers of the 7 small stocks with potential to make investors very, very happy. Get This Free Report Like this article? Share it with a colleague.
Link copied to clipboard.
Comments (0)
No comments yet. Be the first to share your thoughts.
Sign in to leave a comment.