O-I Glass (NYSE:OI) Upgraded by Zacks Research to Hold Rating

O-I Glass (NYSE:OI) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

OI has been the topic of several other reports. UBS Group decreased their target price on shares of O-I Glass from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Citigroup dropped their price target on shares of O-I Glass from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Royal Bank Of Canada cut their price target on shares of O-I Glass from $14.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Wells Fargo & Company cut shares of O-I Glass from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $18.00 to $13.00 in a research report on Friday, March 20th. Finally, Bank of America reaffirmed an “underperform” rating and set a $11.00 price objective on shares of O-I Glass in a research note on Tuesday. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $13.86.

O-I Glass Price Performance

OI opened at $8.46 on Monday. The stock’s 50 day simple moving average is $9.01 and its 200 day simple moving average is $11.61. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.26 and a quick ratio of 0.73. O-I Glass has a 1 year low of $7.75 and a 1 year high of $16.91. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -6.94, a PEG ratio of 1.13 and a beta of 0.62.

O-I Glass (NYSE:OI) last announced its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). O-I Glass had a positive return on equity of 13.65% and a negative net margin of 2.91%.The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same period last year, the firm earned $0.40 earnings per share. O-I Glass’s revenue for the quarter was down 1.7% on a year-over-year basis. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. As a group, analysts predict that O-I Glass will post 1.17 earnings per share for the current year.

Insider Activity at O-I Glass

In other O-I Glass news, SVP Eduardo Restrepo purchased 3,309 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average price of $8.98 per share, with a total value of $29,714.82. Following the completion of the purchase, the senior vice president directly owned 94,199 shares of the company’s stock, valued at $845,907.02. The trade was a 3.64% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Darrow A. Abrahams purchased 2,774 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $9.04 per share, for a total transaction of $25,076.96. Following the acquisition, the senior vice president owned 235,928 shares of the company’s stock, valued at $2,132,789.12. This represents a 1.19% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 17,083 shares of company stock worth $157,312 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in OI. Farther Finance Advisors LLC grew its stake in O-I Glass by 87.6% in the fourth quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 830 shares during the period. Optiver Holding B.V. lifted its position in O-I Glass by 491.5% during the first quarter. Optiver Holding B.V. now owns 2,496 shares of the industrial products company’s stock valued at $26,000 after buying an additional 2,074 shares during the period. Headlands Technologies LLC purchased a new position in O-I Glass during the second quarter valued at $29,000. Quarry LP bought a new stake in shares of O-I Glass during the 4th quarter valued at $32,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of O-I Glass by 36,533.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock valued at $32,000 after buying an additional 2,192 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Company Profile

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.