O-I Glass (NYSE:OI) Lifted to “Hold” at StockNews.com

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

Several other research firms have also issued reports on OI. Robert W. Baird dropped their target price on shares of O-I Glass from $22.00 to $18.00 and set an outperform rating on the stock in a report on Thursday. Bank of America restated a neutral rating and set a $16.00 target price (down previously from $21.00) on shares of O-I Glass in a research report on Friday, April 19th. Wells Fargo & Company lowered their target price on O-I Glass from $19.00 to $18.00 and set an overweight rating for the company in a report on Wednesday, July 17th. Truist Financial restated a buy rating and set a $16.00 price target (down from $17.00) on shares of O-I Glass in a report on Thursday. Finally, Barclays reduced their price objective on shares of O-I Glass from $15.00 to $14.00 and set an equal weight rating for the company in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $17.22.

O-I Glass Stock Down 2.1 %

Shares of NYSE:OI opened at $12.26 on Thursday. The firm has a market cap of $1.90 billion, a P/E ratio of -7.71, a P/E/G ratio of 1.27 and a beta of 1.24. O-I Glass has a 12-month low of $10.08 and a 12-month high of $20.86. The business has a fifty day simple moving average of $11.55 and a 200 day simple moving average of $13.98. The company has a quick ratio of 0.56, a current ratio of 1.26 and a debt-to-equity ratio of 2.85.

O-I Glass (NYSE:OI) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the company earned $0.88 earnings per share. The firm’s revenue was down 8.5% compared to the same quarter last year. Analysts predict that O-I Glass will post 1.6 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OI. Norges Bank purchased a new position in shares of O-I Glass during the fourth quarter valued at approximately $27,562,000. Levin Capital Strategies L.P. lifted its stake in O-I Glass by 66.0% during the 1st quarter. Levin Capital Strategies L.P. now owns 2,808,105 shares of the industrial products company’s stock valued at $46,586,000 after acquiring an additional 1,116,340 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in O-I Glass during the 1st quarter worth $14,603,000. Dimensional Fund Advisors LP grew its stake in shares of O-I Glass by 12.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,615,054 shares of the industrial products company’s stock worth $108,358,000 after acquiring an additional 728,493 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of O-I Glass by 32.0% in the first quarter. Assenagon Asset Management S.A. now owns 2,644,360 shares of the industrial products company’s stock valued at $43,870,000 after purchasing an additional 641,493 shares during the last quarter. 97.24% of the stock is owned by institutional investors.

O-I Glass Company Profile

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.