O-I Glass (NYSE:OI) Stock Rating Reaffirmed by Truist Financial

O-I Glass (NYSE:OI)‘s stock had its “buy” rating reaffirmed by stock analysts at Truist Financial in a report issued on Thursday, Benzinga reports. They currently have a $17.00 target price on the industrial products company’s stock, down from their previous target price of $20.00. Truist Financial’s target price would suggest a potential upside of 29.08% from the company’s current price.

Several other brokerages have also recently weighed in on OI. Citigroup cut shares of O-I Glass from a “buy” rating to a “neutral” rating and raised their target price for the company from $17.00 to $18.00 in a report on Wednesday, January 3rd. Wells Fargo & Company reduced their price objective on shares of O-I Glass from $22.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday. Barclays boosted their target price 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. StockNews.com cut O-I Glass from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, TheStreet cut O-I Glass from a “b-” rating to a “c-” rating in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, O-I Glass has a consensus rating of “Hold” and a consensus target price of $19.89.

O-I Glass Stock Up 0.6 %

Shares of OI stock traded up $0.08 during trading on Thursday, reaching $13.17. The company’s stock had a trading volume of 1,483,504 shares, compared to its average volume of 1,925,177. O-I Glass has a 1-year low of $12.40 and a 1-year high of $23.57. The stock’s 50-day moving average price is $15.71 and its 200 day moving average price is $15.54. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of -8.28, a P/E/G ratio of 1.22 and a beta of 1.36. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.02 and a quick ratio of 0.77.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.36 by $0.09. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.69 billion. O-I Glass had a negative net margin of 3.45% and a positive return on equity of 18.25%. The company’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.29 earnings per share. On average, research analysts anticipate that O-I Glass will post 1.75 EPS for the current year.

Institutional Investors Weigh In On O-I Glass

Several large investors have recently modified their holdings of OI. Covestor Ltd increased its holdings in shares of O-I Glass by 259.7% in the 3rd quarter. Covestor Ltd now owns 1,669 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 1,205 shares during the period. Fidelis Capital Partners LLC purchased a new position in O-I Glass during the 1st quarter worth $33,000. TFO Wealth Partners LLC increased its stake in O-I Glass by 24,311.1% in the fourth quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 2,188 shares during the period. FinTrust Capital Advisors LLC purchased a new stake in shares of O-I Glass in the first quarter valued at about $38,000. Finally, Signaturefd LLC acquired a new stake in shares of O-I Glass during the third quarter worth about $62,000. 97.24% of the stock is owned by institutional investors and hedge funds.

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.