O-I Glass (NYSE:OI) Price Target Raised to $15.00

O-I Glass (NYSE:OI) had its target price upped by Bank of America from $14.00 to $15.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company lowered their price target on O-I Glass from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday. Citigroup boosted their target price on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada reduced their target price on O-I Glass from $18.00 to $16.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Barclays dropped their price target on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.38.

O-I Glass Price Performance

OI opened at $10.47 on Monday. The stock has a market cap of $1.62 billion, a P/E ratio of -3.79 and a beta of 1.21. O-I Glass has a 52-week low of $9.85 and a 52-week high of $17.58. The business has a fifty day moving average of $11.71 and a 200 day moving average of $11.97. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18.

O-I Glass (NYSE:OI) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.08). O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the business posted $0.80 earnings per share. O-I Glass’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, sell-side analysts anticipate that O-I Glass will post 0.76 EPS for the current year.

Institutional Trading of O-I Glass

Institutional investors and hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. acquired a new stake in O-I Glass during the 3rd quarter worth approximately $27,000. GAMMA Investing LLC raised its stake 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 worth $32,000 after acquiring an additional 1,892 shares during the period. Newbridge Financial Services Group Inc. boosted its position in 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 purchasing an additional 2,675 shares during the period. Nisa Investment Advisors LLC grew its position in shares of O-I Glass by 28.4% during the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 1,136 shares during the last quarter. Finally, KBC Group NV grew its position in O-I Glass by 38.9% in the 3rd quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 1,521 shares during the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

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.