O-I Glass (NYSE:OI) Receives Neutral Rating from Bank of America

Bank of America reiterated their neutral rating on shares of O-I Glass (NYSE:OI) in a research note published on Friday, MarketBeat reports. They currently have a $16.00 price target on the industrial products company’s stock, down from their prior price target of $21.00.

A number of other brokerages have also issued reports on OI. StockNews.com lowered shares of O-I Glass from a buy rating to a hold rating in a research note on Thursday, February 15th. Barclays boosted their price target on shares of O-I Glass from $16.00 to $18.00 and gave the stock an equal weight rating in a research note on Tuesday, February 13th. Citigroup lowered shares of O-I Glass from a buy rating to a neutral rating and boosted their price target for the stock from $17.00 to $18.00 in a research note on Wednesday, January 3rd. TheStreet lowered shares of O-I Glass from a b- rating to a c- rating in a research note on Tuesday, February 6th. Finally, UBS Group initiated coverage on shares of O-I Glass in a research report on Tuesday, January 16th. They set a buy rating and a $26.00 target price on the stock. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $22.67.

O-I Glass Price Performance

NYSE OI opened at $14.57 on Friday. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.77 and a current ratio of 1.23. O-I Glass has a one year low of $13.56 and a one year high of $23.57. The firm’s fifty day moving average is $16.16 and its two-hundred day moving average is $15.64.

O-I Glass (NYSE:OI) last posted its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. O-I Glass had a negative net margin of 1.45% and a positive return on equity of 24.90%. O-I Glass’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.38 earnings per share. On average, analysts forecast that O-I Glass will post 2.37 earnings per share for the current fiscal year.

Institutional Trading of O-I Glass

Several institutional investors and hedge funds have recently modified their holdings of the business. Leeward Investments LLC MA lifted its holdings in shares of O-I Glass by 36.0% in the first quarter. Leeward Investments LLC MA now owns 623,129 shares of the industrial products company’s stock valued at $10,338,000 after purchasing an additional 165,103 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of O-I Glass during the first quarter valued at approximately $2,258,000. Diversified Trust Co lifted its stake in shares of O-I Glass by 15.1% during the first quarter. Diversified Trust Co now owns 45,772 shares of the industrial products company’s stock valued at $759,000 after buying an additional 6,020 shares during the period. Hennessy Advisors Inc. lifted its stake in shares of O-I Glass by 44.0% during the first quarter. Hennessy Advisors Inc. now owns 204,300 shares of the industrial products company’s stock valued at $3,389,000 after buying an additional 62,400 shares during the period. Finally, Thompson Investment Management Inc. lifted its stake in shares of O-I Glass by 84.2% during the first quarter. Thompson Investment Management Inc. now owns 393,883 shares of the industrial products company’s stock valued at $6,535,000 after buying an additional 180,093 shares during the period. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Company Profile

O-I Glass, Inc, through its subsidiaries, engages in the manufacture and sale of glass containers to food and beverage manufacturers primarily in the Americas, Europe, and internationally. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.