O-I Glass (NYSE:OI) Stock Rating Lowered by StockNews.com

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

Other equities analysts also recently issued research reports about the stock. Barclays lowered their price target on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Truist Financial restated a “buy” rating and issued a $16.00 price objective (down from $17.00) on shares of O-I Glass in a research report on Thursday, August 1st. Citigroup increased their target price on O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada dropped their price target on O-I Glass from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $14.00 to $16.00 in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.25.

O-I Glass Trading Up 1.0 %

Shares of OI stock opened at $11.35 on Monday. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.23 and a quick ratio of 0.77. The company has a market cap of $1.76 billion, a price-to-earnings ratio of -4.11 and a beta of 1.20. O-I Glass has a 1 year low of $10.08 and a 1 year high of $17.58. The firm has a fifty day moving average price of $12.63 and a 200-day moving average price of $12.37.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) 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 company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the firm posted $0.80 EPS. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, equities analysts predict that O-I Glass will post 0.75 earnings per share for the current year.

Hedge Funds Weigh In On O-I Glass

Institutional investors and hedge funds have recently made changes to their positions in the business. Markel Group Inc. grew its position in O-I Glass by 20.8% in the third quarter. Markel Group Inc. now owns 814,100 shares of the industrial products company’s stock worth $10,681,000 after acquiring an additional 140,000 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of O-I Glass during the 3rd quarter valued at approximately $27,000. Private Management Group Inc. raised its holdings in 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 valued at $39,698,000 after buying an additional 520,452 shares during the period. Nisa Investment Advisors LLC lifted its position in O-I Glass by 28.4% in the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock worth $67,000 after buying an additional 1,136 shares during the last quarter. Finally, Everence Capital Management Inc. boosted its stake in O-I Glass by 6.1% during the third quarter. Everence Capital Management Inc. now owns 15,550 shares of the industrial products company’s stock worth $204,000 after buying an additional 890 shares during the period. 97.24% of the stock is owned by hedge funds and other institutional investors.

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.