O-I Glass (NYSE:OI) Upgraded to “B-” at TheStreet

O-I Glass (NYSE:OIGet Rating) was upgraded by investment analysts at TheStreet from a “c-” rating to a “b-” rating in a research report issued to clients and investors on Monday, TheStreetRatingsTable reports.

OI has been the topic of a number of other research reports. Wells Fargo & Company upgraded O-I Glass from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, January 12th. Citigroup lowered their target price on O-I Glass from $16.00 to $14.00 in a research note on Friday, April 8th. Credit Suisse Group initiated coverage on O-I Glass in a research note on Friday, January 28th. They issued an “outperform” rating and a $18.00 target price on the stock. StockNews.com initiated coverage on O-I Glass in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, Bank of America downgraded O-I Glass from a “buy” rating to a “neutral” rating and set a $14.00 target price on the stock. in a research note on Thursday, April 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $15.90.

NYSE:OI opened at $12.65 on Monday. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 1.30 and a beta of 1.60. O-I Glass has a 1-year low of $10.64 and a 1-year high of $19.46. The company has a current ratio of 1.36, a quick ratio of 0.92 and a debt-to-equity ratio of 5.75. The business’s fifty day moving average price is $12.80 and its 200 day moving average price is $12.81.

O-I Glass (NYSE:OIGet Rating) last posted its quarterly earnings results on Monday, April 25th. The industrial products company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.17. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.54 billion. O-I Glass had a return on equity of 54.60% and a net margin of 2.34%. O-I Glass’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 earnings per share. Equities analysts forecast that O-I Glass will post 1.91 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wedge Capital Management L L P NC lifted its position in shares of O-I Glass by 5.6% during the 1st quarter. Wedge Capital Management L L P NC now owns 14,531 shares of the industrial products company’s stock worth $192,000 after purchasing an additional 776 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of O-I Glass by 24.3% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,200 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 822 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of O-I Glass by 3.3% during the 4th quarter. Victory Capital Management Inc. now owns 33,817 shares of the industrial products company’s stock worth $407,000 after purchasing an additional 1,067 shares during the last quarter. CIBC Asset Management Inc raised its holdings in O-I Glass by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 19,971 shares of the industrial products company’s stock valued at $240,000 after acquiring an additional 1,072 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in O-I Glass in the 1st quarter valued at approximately $25,000. 91.53% of the stock is owned by institutional investors and hedge funds.

O-I Glass Company Profile (Get Rating)

O-I Glass, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in the Americas, Europe, and the Asia Pacific. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. It is also involved in the production of glass packaging for various food items, soft drinks, tea, juices, and pharmaceuticals.

Further Reading

Analyst Recommendations for O-I Glass (NYSE:OI)

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