O-I Glass, Inc. (NYSE:OI) Given Average Rating of “Hold” by Brokerages

O-I Glass, Inc. (NYSE:OI) has been given an average rating of “Hold” by the eight brokerages that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $13.5714.

Several equities research analysts have recently issued reports on OI shares. Weiss Ratings upgraded shares of O-I Glass from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 15th. Citigroup cut their target price on shares of O-I Glass from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Truist Financial reduced their price target on shares of O-I Glass from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Zacks Research upgraded shares of O-I Glass from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Royal Bank Of Canada decreased their price target on shares of O-I Glass from $14.00 to $11.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th.

O-I Glass Stock Performance

Shares of NYSE:OI opened at $9.05 on Friday. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -7.42, a price-to-earnings-growth ratio of 1.11 and a beta of 0.62. The company has a 50-day moving average price of $9.07 and a 200-day moving average price of $11.19. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 3.35. O-I Glass has a 12 month low of $7.75 and a 12 month high of $16.91.

O-I Glass (NYSE:OI) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.15). The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.68 billion. O-I Glass had a positive return on equity of 13.65% and a negative net margin of 2.91%.The business’s revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 EPS. As a group, equities analysts anticipate that O-I Glass will post 1.14 EPS for the current year.

Insiders Place Their Bets

In other O-I Glass news, SVP Randolph L. Burns bought 11,000 shares of O-I Glass stock in a transaction dated Friday, May 8th. The shares were purchased at an average cost of $9.32 per share, for a total transaction of $102,520.00. Following the acquisition, the senior vice president directly owned 133,932 shares in the company, valued at approximately $1,248,246.24. This represents a 8.95% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Darrow A. Abrahams purchased 2,774 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $9.04 per share, for a total transaction of $25,076.96. Following the acquisition, the senior vice president directly owned 235,928 shares in the company, valued at $2,132,789.12. This trade represents a 1.19% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 17,083 shares of company stock valued at $157,312 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Alliancebernstein L.P. boosted its stake in O-I Glass by 194.6% during the second quarter. Alliancebernstein L.P. now owns 7,939,841 shares of the industrial products company’s stock worth $117,033,000 after buying an additional 5,244,440 shares during the last quarter. Cooper Creek Partners Management LLC increased its stake in shares of O-I Glass by 73.8% in the 1st quarter. Cooper Creek Partners Management LLC now owns 7,006,293 shares of the industrial products company’s stock worth $73,636,000 after acquiring an additional 2,975,181 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of O-I Glass in the 4th quarter worth $40,090,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of O-I Glass by 288.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,215,632 shares of the industrial products company’s stock worth $47,463,000 after acquiring an additional 2,388,299 shares during the period. Finally, Brandywine Global Investment Management LLC purchased a new position in shares of O-I Glass during the 4th quarter worth $25,064,000. Institutional investors own 97.24% of the company’s stock.

O-I Glass Company Profile

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.