O-I Glass (NYSE:OI) Cut to Sell at StockNews.com

StockNews.com lowered shares of O-I Glass (NYSE:OI) from a hold rating to a sell rating in a research note published on Monday morning.

Several other equities research analysts have also recently issued reports on the stock. Truist Financial restated a “buy” rating and issued a $16.00 target price (down previously from $17.00) on shares of O-I Glass in a report on Thursday, August 1st. Royal Bank of Canada cut their price objective on O-I Glass from $18.00 to $16.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Robert W. Baird lowered their target price on O-I Glass from $22.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Citigroup boosted their price target on O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company dropped their price objective on shares of O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.25.

O-I Glass Stock Up 7.8 %

OI stock opened at $12.88 on Monday. The business has a 50 day moving average of $12.61 and a 200 day moving average of $12.36. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18. The firm has a market cap of $1.99 billion, a PE ratio of -4.67 and a beta of 1.20. O-I Glass has a twelve month low of $10.08 and a twelve month high of $17.58.

O-I Glass (NYSE:OI) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.08). The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. O-I Glass’s revenue was down 3.7% on a year-over-year basis. During the same period last year, the business earned $0.80 EPS. On average, research analysts forecast that O-I Glass will post 0.75 EPS for the current fiscal year.

Institutional Investors Weigh In On O-I Glass

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Fidelis Capital Partners LLC bought a new stake in O-I Glass in the 1st quarter valued at $33,000. Harbor Capital Advisors Inc. bought a new stake in shares of O-I Glass in the third quarter worth about $27,000. Headlands Technologies LLC purchased a new stake in shares of O-I Glass in the first quarter worth about $39,000. GAMMA Investing LLC boosted its stake in O-I Glass by 371.0% during the third quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock valued at $32,000 after buying an additional 1,892 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. grew its holdings in O-I Glass by 1,337.5% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock valued at $32,000 after buying an additional 2,675 shares in 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.