O-I Glass (NYSE:OI) Upgraded to “Hold” at StockNews.com

O-I Glass (NYSE:OI) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

OI has been the subject of a number of other research reports. 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. Royal Bank of Canada reduced their price target on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Barclays lowered their price objective 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. Bank of America upgraded O-I Glass from a “neutral” rating to a “buy” rating and lifted their target price for the company from $14.00 to $16.00 in a research report on Thursday, October 17th. Finally, Robert W. Baird decreased 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, August 1st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.25.

O-I Glass Stock Performance

NYSE OI traded down $0.37 during trading on Tuesday, reaching $13.00. 1,455,141 shares of the company’s stock were exchanged, compared to its average volume of 1,699,996. O-I Glass has a fifty-two week low of $10.08 and a fifty-two week high of $17.58. The stock has a market capitalization of $2.01 billion, a P/E ratio of -4.71 and a beta of 1.20. The business has a 50 day moving average price of $12.64 and a 200-day moving average price of $12.28. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.23 and a quick ratio of 0.77.

O-I Glass (NYSE:OI) last announced its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates 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 positive return on equity of 9.16% and a negative net margin of 6.34%. O-I Glass’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. Sell-side analysts forecast that O-I Glass will post 0.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. bought a new stake in O-I Glass during the 3rd quarter valued at $27,000. Headlands Technologies LLC bought a new position in O-I Glass in the first quarter worth $39,000. GAMMA Investing LLC boosted its holdings in O-I Glass by 371.0% in the third quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 1,892 shares in the last quarter. Newbridge Financial Services Group Inc. raised its holdings in O-I Glass by 1,337.5% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 2,675 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of O-I Glass by 40.2% during the first quarter. Bessemer Group Inc. now owns 4,597 shares of the industrial products company’s stock valued at $76,000 after buying an additional 1,318 shares during the last quarter. 97.24% of the stock is currently owned by hedge funds and other 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.