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

O-I Glass, Inc. (NYSE:OI) has been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and six 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 $16.63.

A number of equities analysts recently issued reports on OI shares. Robert W. Baird dropped their price objective on shares of O-I Glass from $22.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada reduced their price objective 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. Citigroup boosted their price target on O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Bank of America raised O-I Glass from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $16.00 in a research note on Thursday.

Insiders Place Their Bets

In related news, Director John Humphrey bought 15,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $11.30 per share, with a total value of $169,500.00. Following the completion of the acquisition, the director now owns 84,227 shares of the company’s stock, valued at $951,765.10. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.49% of the stock is currently owned by corporate insiders.

Institutional Trading of O-I Glass

A number of large investors have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. raised its position in shares of O-I Glass by 1,337.5% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock valued at $32,000 after buying an additional 2,675 shares in the last quarter. GAMMA Investing LLC raised its position in O-I Glass by 371.0% during the third quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 1,892 shares during the period. Fidelis Capital Partners LLC bought a new stake in shares of O-I Glass in the 1st quarter valued at approximately $33,000. FinTrust Capital Advisors LLC purchased a new position in shares of O-I Glass in the 1st quarter worth approximately $38,000. Finally, Headlands Technologies LLC bought a new position in shares of O-I Glass during the 1st quarter valued at approximately $39,000. Institutional investors own 97.24% of the company’s stock.

O-I Glass Trading Up 0.7 %

NYSE:OI opened at $13.19 on Friday. The company has a 50 day simple moving average of $12.67 and a two-hundred day simple moving average of $12.71. The company has a market cap of $2.05 billion, a PE ratio of -6.87, a price-to-earnings-growth ratio of 1.90 and a beta of 1.17. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 2.85. O-I Glass has a 12 month low of $10.08 and a 12 month high of $17.58.

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

About O-I Glass

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.