O-I Glass (NYSE:OI) Cut to “Hold” at Wall Street Zen

O-I Glass (NYSE:OI) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other analysts have also recently commented on OI. Citigroup raised their target price on shares of O-I Glass from $11.00 to $14.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Truist Financial reissued a “buy” rating and set a $16.00 price objective (up previously from $13.00) on shares of O-I Glass in a report on Thursday, May 1st. Barclays boosted their price objective on shares of O-I Glass from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $16.00 price objective on shares of O-I Glass in a report on Monday, March 17th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.88.

O-I Glass Trading Up 3.8%

Shares of O-I Glass stock opened at $14.03 on Friday. O-I Glass has a 1 year low of $9.23 and a 1 year high of $14.34. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.73 and a current ratio of 1.24. The company has a market capitalization of $2.17 billion, a P/E ratio of -11.13, a PEG ratio of 0.28 and a beta of 0.96. The company’s fifty day moving average is $12.89 and its two-hundred day moving average is $11.76.

O-I Glass (NYSE:OI) last issued its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.22. O-I Glass had a negative net margin of 2.98% and a positive return on equity of 8.48%. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the firm posted $0.45 EPS. O-I Glass’s revenue for the quarter was up .4% on a year-over-year basis. Analysts forecast that O-I Glass will post 1.33 earnings per share for the current year.

Institutional Trading of O-I Glass

Several institutional investors and hedge funds have recently modified their holdings of the business. Voya Investment Management LLC lifted its stake in shares of O-I Glass by 131.5% during the first quarter. Voya Investment Management LLC now owns 132,899 shares of the industrial products company’s stock valued at $1,524,000 after buying an additional 75,489 shares during the period. Strs Ohio purchased a new position in shares of O-I Glass during the first quarter valued at approximately $747,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of O-I Glass by 43.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 526,279 shares of the industrial products company’s stock valued at $6,036,000 after buying an additional 160,649 shares during the period. United Services Automobile Association purchased a new position in shares of O-I Glass during the first quarter valued at approximately $119,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of O-I Glass during the first quarter valued at approximately $658,000. Hedge funds and other institutional investors own 97.24% of the company’s stock.

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.