O-I Glass (NYSE:OI) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of O-I Glass (NYSE:OI) from a sell rating to a hold rating in a research note released on Tuesday morning.

A number of other research analysts have also weighed in on the company. Citigroup upped their price objective on O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and upped their price objective for the company from $14.00 to $16.00 in a research note on Thursday, October 17th. Truist Financial reissued a “buy” rating and issued a $16.00 price target (down from $17.00) on shares of O-I Glass in a research note on Thursday, August 1st. Royal Bank of Canada lowered their price objective on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Robert W. Baird decreased their target price on O-I Glass from $22.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.25.

O-I Glass Stock Performance

Shares of OI opened at $12.97 on Tuesday. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.77 and a current ratio of 1.23. O-I Glass has a 1 year low of $10.08 and a 1 year high of $17.58. The stock has a market capitalization of $2.01 billion, a PE ratio of -4.70 and a beta of 1.20. The stock has a 50-day simple moving average of $12.68 and a 200-day simple moving average of $12.27.

O-I Glass (NYSE:OI) last posted its 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 negative net margin of 6.34% and a positive return on equity of 9.16%. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the firm posted $0.80 earnings per share. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, analysts predict that O-I Glass will post 0.75 earnings per share for the current fiscal year.

Institutional Trading of O-I Glass

A number of institutional investors have recently bought and sold shares of the company. Segall Bryant & Hamill LLC acquired a new position in O-I Glass in the third quarter worth approximately $32,350,000. Highland Peak Capital LLC acquired a new stake in shares of O-I Glass in the 3rd quarter valued at $27,132,000. Levin Capital Strategies L.P. boosted its holdings in O-I Glass by 66.0% in the first quarter. Levin Capital Strategies L.P. now owns 2,808,105 shares of the industrial products company’s stock worth $46,586,000 after purchasing an additional 1,116,340 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in O-I Glass by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,093,723 shares of the industrial products company’s stock valued at $78,952,000 after buying an additional 573,300 shares in the last quarter. Finally, Private Management Group Inc. boosted its stake in shares of O-I Glass by 20.8% during the 3rd quarter. Private Management Group Inc. now owns 3,025,731 shares of the industrial products company’s stock worth $39,698,000 after acquiring an additional 520,452 shares in the last quarter. Institutional investors and hedge funds 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.