O-I Glass (NYSE:OI) Stock Price Up 6.5% – Still a Buy?

O-I Glass, Inc. (NYSE:OI) was up 6.5% during mid-day trading on Wednesday . The stock traded as high as $11.37 and last traded at $11.32. Approximately 109,975 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 1,394,960 shares. The stock had previously closed at $10.63.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OI. Citigroup lowered 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 report on Monday, January 6th. Bank of America upped their price target on O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Wells Fargo & Company dropped their price objective 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. Finally, StockNews.com upgraded 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.38.

O-I Glass Price Performance

The business’s fifty day moving average is $11.08 and its 200 day moving average is $11.93. The company has a market cap of $1.74 billion, a P/E ratio of -15.89, a PEG ratio of 0.24 and a beta of 1.20. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 3.78.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. As a group, sell-side analysts anticipate that O-I Glass, Inc. will post 1.33 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of O-I Glass by 2.2% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 42,900 shares of the industrial products company’s stock worth $465,000 after buying an additional 916 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in O-I Glass by 28.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 1,136 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in O-I Glass by 9.6% in the 4th quarter. Baird Financial Group Inc. now owns 16,152 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 1,410 shares during the period. KBC Group NV grew its position 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 purchasing an additional 1,521 shares in the last quarter. Finally, Corient Private Wealth LLC grew its position in shares of O-I Glass by 13.4% during the 4th quarter. Corient Private Wealth LLC now owns 16,544 shares of the industrial products company’s stock valued at $179,000 after purchasing an additional 1,954 shares in the last quarter. 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.