O-I Glass (NYSE:OI) Downgraded to “Sell” Rating by 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.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada decreased 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. Truist Financial reissued a “buy” rating and set a $16.00 price target (down previously from $17.00) on shares of O-I Glass in a report on Thursday, August 1st. Robert W. Baird decreased their price objective on O-I Glass from $22.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. UBS Group cut their price target on O-I Glass from $26.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Finally, Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $14.00 to $16.00 in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.25.

O-I Glass Stock Up 1.2 %

Shares of OI traded up $0.16 during mid-day trading on Monday, reaching $12.97. The company’s stock had a trading volume of 76,097 shares, compared to its average volume of 1,695,374. 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 has a 12-month low of $10.08 and a 12-month high of $17.58. The stock has a market cap of $2.01 billion, a PE ratio of -4.64 and a beta of 1.20. The company’s 50 day moving average is $12.61 and its 200 day moving average is $12.36.

O-I Glass (NYSE:OI) last released its quarterly earnings data 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). O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the business posted $0.80 EPS. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. Equities analysts anticipate that O-I Glass will post 0.75 EPS for the current fiscal year.

Hedge Funds Weigh In On O-I Glass

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in shares of O-I Glass in the third quarter valued at approximately $77,000. Natixis Advisors LLC acquired a new position in shares of O-I Glass in the third quarter worth $218,000. KBC Group NV lifted its position in shares of O-I Glass by 38.9% in the third quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock valued at $71,000 after acquiring an additional 1,521 shares in the last quarter. Hourglass Capital LLC boosted its stake in shares of O-I Glass by 2.7% during the third quarter. Hourglass Capital LLC now owns 81,435 shares of the industrial products company’s stock valued at $1,068,000 after acquiring an additional 2,160 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in O-I Glass during the 3rd quarter worth about $461,000. 97.24% of the stock is owned by institutional investors and hedge funds.

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.