O-I Glass (NYSE:OI) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of O-I Glass (NYSE:OI) from a sell rating to a hold rating in a report published on Tuesday.

OI has been the topic of several other research reports. Robert W. Baird decreased their price objective on O-I Glass from $22.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Royal Bank of Canada decreased their price target on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Citigroup raised their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. UBS Group decreased their target price 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. Finally, Truist Financial reissued a “buy” rating and issued a $16.00 price target (down previously from $17.00) on shares of O-I Glass in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, O-I Glass has a consensus rating of “Moderate Buy” and an average target price of $16.25.

O-I Glass Stock Performance

OI opened at $12.97 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18. The stock’s 50 day moving average price is $12.68 and its two-hundred day moving average price is $12.27. The firm has a market capitalization of $2.01 billion, a P/E ratio of -4.70 and a beta of 1.20. O-I Glass has a 12-month low of $10.08 and a 12-month high of $17.58.

O-I Glass (NYSE:OI) last announced its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the firm posted $0.80 EPS. The company’s revenue was down 3.7% compared to the same quarter last year. On average, equities analysts forecast that O-I Glass will post 0.75 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Everence Capital Management Inc. grew its holdings in O-I Glass by 6.1% during the 3rd quarter. Everence Capital Management Inc. now owns 15,550 shares of the industrial products company’s stock worth $204,000 after acquiring an additional 890 shares during the last quarter. Diversified Trust Co increased its holdings in shares of O-I Glass by 2.0% in the third quarter. Diversified Trust Co now owns 49,596 shares of the industrial products company’s stock valued at $651,000 after purchasing an additional 965 shares in the last quarter. Nisa Investment Advisors LLC raised its position in O-I Glass by 28.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 1,136 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in O-I Glass by 6.1% during the 2nd quarter. Mackenzie Financial Corp now owns 20,091 shares of the industrial products company’s stock worth $224,000 after buying an additional 1,162 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in O-I Glass by 40.2% in the 1st quarter. Bessemer Group Inc. now owns 4,597 shares of the industrial products company’s stock valued at $76,000 after buying an additional 1,318 shares during the last quarter. Institutional investors own 97.24% of the company’s stock.

About O-I Glass

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.