A number of other analysts have also issued reports on OI. Barclays dropped their price target on shares of O-I Glass from $18.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, November 2nd. Truist Financial dropped their price target on shares of O-I Glass from $31.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Royal Bank of Canada dropped their price target on shares of O-I Glass from $37.00 to $32.00 and set an “outperform” rating for the company in a research note on Thursday, August 3rd. Credit Suisse Group lowered shares of O-I Glass from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $21.00 to $22.00 in a research note on Wednesday, September 13th. Finally, Wells Fargo & Company dropped their price target on shares of O-I Glass from $28.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $22.90.
O-I Glass Trading Down 0.6 %
O-I Glass (NYSE:OI – Get Free Report) last released its earnings results on Tuesday, October 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.10. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.76 billion. O-I Glass had a net margin of 5.31% and a return on equity of 27.79%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the company earned $0.63 earnings per share. Sell-side analysts forecast that O-I Glass will post 3 earnings per share for the current year.
Hedge Funds Weigh In On O-I Glass
Several hedge funds and other institutional investors have recently modified their holdings of OI. Covestor Ltd lifted its holdings in O-I Glass by 259.7% in the third quarter. Covestor Ltd now owns 1,669 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 1,205 shares during the period. Belpointe Asset Management LLC lifted its holdings in O-I Glass by 109.4% in the first quarter. Belpointe Asset Management LLC now owns 1,518 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 793 shares during the period. Lazard Asset Management LLC acquired a new stake in O-I Glass in the first quarter worth about $34,000. Quarry LP lifted its holdings in O-I Glass by 499.3% in the first quarter. Quarry LP now owns 1,744 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 1,453 shares during the period. Finally, Signaturefd LLC acquired a new stake in O-I Glass in the third quarter worth about $62,000. Institutional investors and hedge funds own 91.29% 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.
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