O-I Glass (NYSE:OI) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of O-I Glass (NYSE:OI) from a buy rating to a hold rating in a research note published on Saturday.

OI has been the subject of several other reports. Citigroup increased their price objective on shares of O-I Glass from $11.00 to $14.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of O-I Glass in a research report on Monday, March 17th. Truist Financial reaffirmed a “buy” rating and issued a $16.00 price objective (up from $13.00) on shares of O-I Glass in a research report on Thursday, May 1st. Finally, Barclays increased their price target on shares of O-I Glass from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, O-I Glass presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.88.

O-I Glass Stock Performance

Shares of O-I Glass stock opened at $14.36 on Friday. The firm has a market capitalization of $2.22 billion, a P/E ratio of -11.40, a PEG ratio of 0.29 and a beta of 0.96. The company has a quick ratio of 0.73, a current ratio of 1.24 and a debt-to-equity ratio of 3.83. The company has a 50 day moving average price of $12.96 and a 200 day moving average price of $11.78. O-I Glass has a 52 week low of $9.23 and a 52 week high of $14.80.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.18 by $0.22. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.55 billion. O-I Glass had a negative net margin of 2.98% and a positive return on equity of 8.48%. O-I Glass’s revenue was up .4% on a year-over-year basis. During the same period last year, the firm posted $0.45 EPS. Sell-side analysts expect that O-I Glass will post 1.33 EPS for the current year.

Institutional Investors Weigh In On O-I Glass

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC grew its stake in shares of O-I Glass by 131.5% during the 1st quarter. Voya Investment Management LLC now owns 132,899 shares of the industrial products company’s stock worth $1,524,000 after purchasing an additional 75,489 shares during the period. Strs Ohio acquired a new stake in shares of O-I Glass during the 1st quarter worth approximately $747,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of O-I Glass by 43.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 526,279 shares of the industrial products company’s stock worth $6,036,000 after purchasing an additional 160,649 shares during the period. United Services Automobile Association acquired a new stake in shares of O-I Glass during the 1st quarter worth approximately $119,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of O-I Glass during the 1st quarter worth approximately $658,000. Institutional investors and hedge funds 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.