O-I Glass (NYSE:OI) Lifted to Hold at StockNews.com

O-I Glass (NYSE:OI) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

Several other equities research analysts have also issued reports on the company. Wells Fargo & Company dropped their price target on O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Citigroup dropped their target price on O-I Glass from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Monday, July 8th. Barclays dropped their target price on O-I Glass from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday. Robert W. Baird dropped their target price on O-I Glass from $22.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Truist Financial reaffirmed a “buy” rating and issued a $16.00 target price (down from $17.00) on shares of O-I Glass in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, O-I Glass currently has an average rating of “Moderate Buy” and a consensus price target of $17.22.

O-I Glass Stock Down 6.4 %

Shares of OI traded down $0.85 during trading on Thursday, reaching $12.51. The company’s stock had a trading volume of 3,101,709 shares, compared to its average volume of 1,795,947. The company has a fifty day moving average of $11.55 and a two-hundred day moving average of $14.02. O-I Glass has a twelve month low of $10.08 and a twelve month high of $21.97. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -7.87, a P/E/G ratio of 1.11 and a beta of 1.24. The company has a quick ratio of 0.56, a current ratio of 1.02 and a debt-to-equity ratio of 2.26.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. O-I Glass had a positive return on equity of 15.10% and a negative net margin of 4.32%. The business’s revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.88 EPS. On average, sell-side analysts predict that O-I Glass will post 1.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of OI. Camelot Portfolios LLC bought a new position in O-I Glass during the fourth quarter valued at about $213,000. Total Clarity Wealth Management Inc. acquired a new position in shares of O-I Glass in the 4th quarter valued at $186,000. International Assets Investment Management LLC boosted its position in shares of O-I Glass by 1,538.0% in the 4th quarter. International Assets Investment Management LLC now owns 4,095 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 3,845 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of O-I Glass by 3.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,946 shares of the industrial products company’s stock valued at $1,146,000 after purchasing an additional 2,289 shares during the period. Finally, Smith Graham & Co. Investment Advisors LP boosted its position in shares of O-I Glass by 5.1% in the 4th quarter. Smith Graham & Co. Investment Advisors LP now owns 341,029 shares of the industrial products company’s stock valued at $5,586,000 after purchasing an additional 16,681 shares during the period. Institutional investors 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.