O-I Glass, Inc. (NYSE:OI) Receives Average Rating of “Moderate Buy” from Analysts

Shares of O-I Glass, Inc. (NYSE:OI) have been assigned an average rating of “Moderate Buy” from the nine brokerages that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $16.89.

Several equities analysts recently commented on the company. Barclays dropped their price objective on O-I Glass from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Royal Bank of Canada cut their price target on O-I Glass from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Wells Fargo & Company lowered their price objective on O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Robert W. Baird cut their target price on shares of O-I Glass from $22.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Finally, StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st.

O-I Glass Trading Down 0.5 %

Shares of O-I Glass stock opened at $12.79 on Friday. The firm has a market cap of $1.99 billion, a PE ratio of -8.04, a P/E/G ratio of 1.77 and a beta of 1.24. O-I Glass has a 1 year low of $10.08 and a 1 year high of $20.29. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.26 and a quick ratio of 0.75. The stock has a fifty day moving average price of $11.55 and a 200-day moving average price of $13.59.

O-I Glass (NYSE:OI) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. O-I Glass had a negative net margin of 4.32% and a positive return on equity of 15.64%. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.88 earnings per share. Equities research analysts anticipate that O-I Glass will post 1.13 EPS for the current year.

Insider Buying and Selling at O-I Glass

In other O-I Glass news, Director John Humphrey bought 15,000 shares of O-I Glass stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average cost of $11.30 per share, for a total transaction of $169,500.00. Following the completion of the transaction, the director now directly owns 84,227 shares in the company, valued at $951,765.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.49% of the company’s stock.

Institutional Investors Weigh In On O-I Glass

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of O-I Glass by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 19,362,262 shares of the industrial products company’s stock valued at $321,220,000 after buying an additional 221,823 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in O-I Glass by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,093,723 shares of the industrial products company’s stock valued at $78,952,000 after acquiring an additional 573,300 shares during the last quarter. Levin Capital Strategies L.P. raised its position in O-I Glass by 25.0% during the second quarter. Levin Capital Strategies L.P. now owns 3,511,413 shares of the industrial products company’s stock valued at $39,082,000 after purchasing an additional 703,308 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in O-I Glass by 32.0% during the first quarter. Assenagon Asset Management S.A. now owns 2,644,360 shares of the industrial products company’s stock worth $43,870,000 after purchasing an additional 641,493 shares during the last quarter. Finally, Private Management Group Inc. boosted its holdings in shares of O-I Glass by 21.3% in the 2nd quarter. Private Management Group Inc. now owns 2,505,279 shares of the industrial products company’s stock worth $27,884,000 after purchasing an additional 439,838 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors.

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.