O-I Glass (NYSE:OI) Cut to Sell at StockNews.com

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

OI has been the topic of a number of other research reports. Robert W. Baird cut their price target on shares of O-I Glass from $28.00 to $22.00 and set an outperform rating on the stock in a research note on Thursday, May 2nd. Wells Fargo & Company cut their price objective on shares of O-I Glass from $22.00 to $19.00 and set an overweight rating on the stock in a research note on Thursday, May 2nd. Truist Financial reiterated a buy rating and issued a $17.00 price objective (down previously from $20.00) on shares of O-I Glass in a research note on Thursday, May 2nd. Bank of America reiterated a neutral rating and issued a $16.00 price objective (down previously from $21.00) on shares of O-I Glass in a research note on Friday, April 19th. Finally, Barclays cut their price objective on shares of O-I Glass from $18.00 to $15.00 and set an equal weight rating on the stock in a research note on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $18.89.

O-I Glass Trading Up 6.2 %

Shares of O-I Glass stock opened at $11.16 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.56 and a debt-to-equity ratio of 2.26. O-I Glass has a 12-month low of $10.08 and a 12-month high of $23.57. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of -7.02, a PEG ratio of 1.02 and a beta of 1.24. The firm’s 50 day simple moving average is $12.05 and its two-hundred day simple moving average is $14.47.

O-I Glass (NYSE:OI) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. O-I Glass had a negative net margin of 3.45% and a positive return on equity of 18.25%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the prior year, the business posted $1.29 EPS. O-I Glass’s revenue for the quarter was down 13.0% compared to the same quarter last year. Analysts predict that O-I Glass will post 1.67 EPS for the current year.

Hedge Funds Weigh In On O-I Glass

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC purchased a new position in O-I Glass during the first quarter valued at $33,000. TFO Wealth Partners LLC lifted its holdings in O-I Glass by 24,311.1% during the fourth quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 2,188 shares in the last quarter. FinTrust Capital Advisors LLC purchased a new position in O-I Glass during the first quarter valued at $38,000. Headlands Technologies LLC purchased a new position in O-I Glass during the first quarter valued at $39,000. Finally, International Assets Investment Management LLC lifted its holdings in O-I Glass by 1,538.0% during the fourth 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 in the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.

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.