O-I Glass (NYSE:OI) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of O-I Glass (NYSE:OI) from a strong-buy rating to a buy rating in a research report released on Sunday.

OI has been the subject of several other reports. Citigroup decreased their price target on shares of O-I Glass from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, February 12th. Truist Financial raised their target price on shares of O-I Glass from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Bank of America upgraded shares of O-I Glass from a “neutral” rating to a “buy” rating and lifted their price target for the company from $14.00 to $17.00 in a research note on Monday, November 17th. Robert W. Baird set a $20.00 price objective on shares of O-I Glass in a research note on Thursday, February 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of O-I Glass in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.22.

O-I Glass Trading Down 1.1%

OI opened at $14.63 on Friday. The stock has a market capitalization of $2.23 billion, a P/E ratio of -17.42, a P/E/G ratio of 0.67 and a beta of 0.78. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 3.35. O-I Glass has a 12 month low of $9.23 and a 12 month high of $16.91. The firm’s fifty day simple moving average is $15.33 and its 200 day simple moving average is $13.73.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.52 billion. O-I Glass had a positive return on equity of 18.07% and a negative net margin of 2.01%.The company’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) EPS. As a group, research analysts anticipate that O-I Glass will post 1.33 EPS for the current fiscal year.

Institutional Trading of O-I Glass

Institutional investors and hedge funds have recently bought and sold shares of the business. Guggenheim Capital LLC boosted its stake in shares of O-I Glass by 39.4% during the 4th quarter. Guggenheim Capital LLC now owns 29,624 shares of the industrial products company’s stock worth $437,000 after acquiring an additional 8,371 shares during the period. Schonfeld Strategic Advisors LLC raised its stake in O-I Glass by 486.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 150,577 shares of the industrial products company’s stock valued at $2,223,000 after acquiring an additional 124,905 shares during the period. Cetera Investment Advisers lifted its holdings in O-I Glass by 69.3% during the 4th quarter. Cetera Investment Advisers now owns 38,693 shares of the industrial products company’s stock valued at $571,000 after purchasing an additional 15,840 shares during the last quarter. Amundi boosted its position in O-I Glass by 9.1% during the fourth quarter. Amundi now owns 167,887 shares of the industrial products company’s stock worth $2,477,000 after purchasing an additional 14,062 shares during the period. Finally, Jump Financial LLC boosted its position in O-I Glass by 388.7% during the fourth quarter. Jump Financial LLC now owns 218,907 shares of the industrial products company’s stock worth $3,231,000 after purchasing an additional 174,110 shares during the period. Institutional investors own 97.24% of the company’s stock.

About O-I Glass

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.