StockNews.com Upgrades O-I Glass (NYSE:OI) to Hold

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

Several other research firms have also weighed in on OI. Citigroup upped their price target on O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company reduced their price target on shares of O-I Glass from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $14.00 to $16.00 in a research report on Thursday, October 17th. Barclays cut their target price on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, UBS Group dropped their price target on shares of O-I Glass from $26.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.25.

O-I Glass Trading Up 3.0 %

NYSE:OI opened at $13.15 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18. O-I Glass has a 1-year low of $10.08 and a 1-year high of $17.58. The stock has a fifty day simple moving average of $12.65 and a 200 day simple moving average of $12.29.

O-I Glass (NYSE:OI) last released its quarterly 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 negative net margin of 6.34% and a positive return on equity of 9.16%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The firm’s revenue was down 3.7% compared to the same quarter last year. Equities analysts predict that O-I Glass will post 0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On O-I Glass

Several hedge funds have recently made changes to their positions in the stock. Everence Capital Management Inc. increased its position in shares of O-I Glass by 6.1% during the third quarter. Everence Capital Management Inc. now owns 15,550 shares of the industrial products company’s stock valued at $204,000 after purchasing an additional 890 shares during the period. Diversified Trust Co increased its holdings in O-I Glass by 2.0% in the 3rd quarter. Diversified Trust Co now owns 49,596 shares of the industrial products company’s stock valued at $651,000 after buying an additional 965 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of 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 valued at $67,000 after buying an additional 1,136 shares in the last quarter. Mackenzie Financial Corp increased its stake in O-I Glass by 6.1% in the second quarter. Mackenzie Financial Corp now owns 20,091 shares of the industrial products company’s stock valued at $224,000 after acquiring an additional 1,162 shares during the period. Finally, Bessemer Group Inc. raised its position in O-I Glass by 40.2% in the first quarter. Bessemer Group Inc. now owns 4,597 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 1,318 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

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.