O-I Glass (NYSE:OI - Get Free Report) was downgraded by investment analysts at StockNews.com from a "hold" rating to a "sell" rating in a report released on Monday.
Other analysts have also issued research reports about the stock. Truist Financial reaffirmed a "buy" rating and issued a $16.00 price objective (down previously from $17.00) on shares of O-I Glass in a research report on Thursday, August 1st. Barclays lowered their price objective on shares of O-I Glass from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Thursday. UBS Group lowered their price objective on shares of O-I Glass from $26.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday, July 17th. Wells Fargo & Company lowered their price objective on shares of 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. Finally, Citigroup lifted their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, O-I Glass presently has an average rating of "Moderate Buy" and an average price target of $16.25.
Check Out Our Latest Research Report on O-I Glass
O-I Glass Trading Up 1.0 %
NYSE OI traded up $0.11 during mid-day trading on Monday, reaching $11.35. 1,812,840 shares of the stock were exchanged, compared to its average volume of 1,693,060. O-I Glass has a one year low of $10.08 and a one year high of $17.58. The stock has a 50 day simple moving average of $12.67 and a 200-day simple moving average of $12.40. The stock has a market cap of $1.76 billion, a P/E ratio of -4.11 and a beta of 1.20. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.23 and a quick ratio of 0.75.
O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.08). The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.76 billion. O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The company's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.80 earnings per share. On average, analysts anticipate that O-I Glass will post 0.75 EPS for the current year.
Insider Activity
In other O-I Glass news, Director John Humphrey acquired 15,000 shares of the business's stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $11.30 per share, with a total value of $169,500.00. Following the purchase, the director now owns 84,227 shares of the company's stock, valued at approximately $951,765.10. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.49% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On O-I Glass
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OI. Fidelis Capital Partners LLC bought a new position in O-I Glass in the 1st quarter worth $33,000. Harbor Capital Advisors Inc. bought a new position in O-I Glass in the 3rd quarter worth $27,000. Headlands Technologies LLC bought a new position in O-I Glass in the 1st quarter worth $39,000. GAMMA Investing LLC raised its holdings in O-I Glass by 371.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company's stock worth $32,000 after purchasing an additional 1,892 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. grew its position in shares of O-I Glass by 1,337.5% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company's stock worth $32,000 after buying an additional 2,675 shares during the period. 97.24% of the stock is currently owned by institutional investors.
O-I Glass Company Profile
(
Get Free Report)
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.
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