O-I Glass (NYSE:OI) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of O-I Glass (NYSE:OI) in a research report report published on Monday morning,Benzinga reports. They currently have a $16.00 price objective on the industrial products company’s stock.

A number of other research firms have also commented on OI. Wells Fargo & Company reduced their price objective on shares of O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Citigroup cut their price target on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, Bank of America raised their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, O-I Glass presently has an average rating of “Moderate Buy” and an average target price of $15.38.

O-I Glass Trading Down 0.1 %

Shares of NYSE:OI opened at $12.18 on Monday. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -17.16, a PEG ratio of 0.24 and a beta of 1.20. O-I Glass has a 1-year low of $9.85 and a 1-year high of $17.58. The company has a 50 day moving average price of $11.29 and a 200 day moving average price of $11.87.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. On average, research analysts anticipate that O-I Glass will post 1.33 EPS for the current fiscal year.

Institutional Investors Weigh In On O-I Glass

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP purchased a new position in O-I Glass in the third quarter valued at about $461,000. KBC Group NV lifted its holdings in shares of O-I Glass by 38.9% during the 3rd quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock valued at $71,000 after buying an additional 1,521 shares during the last quarter. Natixis Advisors LLC bought a new stake in shares of O-I Glass in the 3rd quarter valued at approximately $218,000. Quest Partners LLC acquired a new position in O-I Glass in the third quarter worth approximately $77,000. Finally, Segall Bryant & Hamill LLC bought a new position in O-I Glass during the third quarter valued at approximately $32,350,000. Hedge funds and other institutional investors own 97.24% of the company’s stock.

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.