O-I Glass (NYSE:OI) Upgraded 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 report published on Thursday morning.

A number of other research analysts have also recently commented on OI. Citigroup cut their target price on O-I Glass from $14.00 to $12.00 and set a neutral rating on the stock in a research note on Monday, July 8th. Royal Bank of Canada cut their price objective on O-I Glass from $25.00 to $21.00 and set an outperform rating on the stock in a research report on Thursday, May 2nd. Wells Fargo & Company decreased their target price on 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. Robert W. Baird cut their price target 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. Finally, Barclays decreased 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 report on Thursday. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $17.22.

O-I Glass Stock Down 2.1 %

Shares of OI opened at $12.26 on Thursday. The company has a quick ratio of 0.56, a current ratio of 1.26 and a debt-to-equity ratio of 2.85. The business has a fifty day moving average of $11.55 and a 200 day moving average of $13.98. The company has a market cap of $1.90 billion, a PE ratio of -7.71, a P/E/G ratio of 1.27 and a beta of 1.24. O-I Glass has a 52-week low of $10.08 and a 52-week high of $20.86.

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

Institutional Trading of O-I Glass

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Camelot Portfolios LLC purchased a new position in shares of O-I Glass in the 4th quarter worth approximately $213,000. Total Clarity Wealth Management Inc. acquired a new stake in O-I Glass in the fourth quarter valued at approximately $186,000. International Assets Investment Management LLC grew its holdings in O-I Glass by 1,538.0% in the fourth quarter. International Assets Investment Management LLC now owns 4,095 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 3,845 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of O-I Glass by 3.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,946 shares of the industrial products company’s stock worth $1,146,000 after purchasing an additional 2,289 shares in the last quarter. Finally, Smith Graham & Co. Investment Advisors LP lifted its holdings in shares of O-I Glass by 5.1% during the 4th quarter. Smith Graham & Co. Investment Advisors LP now owns 341,029 shares of the industrial products company’s stock valued at $5,586,000 after purchasing an additional 16,681 shares during the last quarter. Institutional investors 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.