O-I Glass (NYSE:OI) Stock Price Up 5.2% – Here’s What Happened

Shares of O-I Glass, Inc. (NYSE:OI) shot up 5.2% during mid-day trading on Monday . The company traded as high as $12.00 and last traded at $11.70. 1,045,429 shares were traded during mid-day trading, a decline of 11% from the average session volume of 1,177,203 shares. The stock had previously closed at $11.12.

Analysts Set New Price Targets

A number of research firms have issued reports on OI. StockNews.com upgraded O-I Glass from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Royal Bank of Canada cut their target price on O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Wells Fargo & Company cut their target price on O-I Glass from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Bank of America raised their target price on O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Citigroup cut their price objective on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $15.38.

O-I Glass Trading Up 1.6 %

The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18. The firm’s 50-day simple moving average is $11.20 and its 200 day simple moving average is $11.96. The stock has a market capitalization of $1.78 billion, a P/E ratio of -4.18 and a beta of 1.21.

O-I Glass (NYSE:OI) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) EPS 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 business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the firm posted $0.80 earnings per share. O-I Glass’s revenue was down 3.7% compared to the same quarter last year. Equities research analysts anticipate that O-I Glass, Inc. will post 0.75 EPS for the current fiscal year.

Hedge Funds Weigh In On O-I Glass

A number of institutional investors have recently bought and sold shares of the stock. Thompson Investment Management Inc. increased its stake in O-I Glass by 3.4% in the 4th quarter. Thompson Investment Management Inc. now owns 731,838 shares of the industrial products company’s stock worth $7,933,000 after purchasing an additional 24,304 shares in the last quarter. EMC Capital Management grew its stake in O-I Glass by 166.1% during the 4th quarter. EMC Capital Management now owns 21,211 shares of the industrial products company’s stock valued at $230,000 after acquiring an additional 13,241 shares in the last quarter. R Squared Ltd purchased a new position in O-I Glass during the 4th quarter valued at about $45,000. KBC Group NV grew its stake in O-I Glass by 42.5% during the 4th quarter. KBC Group NV now owns 7,740 shares of the industrial products company’s stock valued at $84,000 after acquiring an additional 2,309 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in O-I Glass by 27.5% during the 4th quarter. SG Americas Securities LLC now owns 21,023 shares of the industrial products company’s stock valued at $228,000 after acquiring an additional 4,528 shares in the last quarter. 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.