O-I Glass (NYSE:OI) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen downgraded shares of O-I Glass (NYSE:OI) from a strong-buy rating to a buy rating in a report released on Sunday.

OI has been the topic of several other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of O-I Glass in a report on Thursday, January 22nd. Truist Financial raised their price objective on O-I Glass from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $19.00 price objective on shares of O-I Glass in a research note on Thursday, January 15th. Robert W. Baird set a $20.00 target price on shares of O-I Glass in a research report on Thursday. Finally, Wells Fargo & Company upgraded shares of O-I Glass from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $15.00 to $18.00 in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, O-I Glass has an average rating of “Moderate Buy” and a consensus price target of $18.22.

O-I Glass Stock Down 2.2%

NYSE:OI opened at $14.76 on Friday. O-I Glass has a one year low of $9.23 and a one year high of $16.91. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.25 and a quick ratio of 0.77. The company has a market cap of $2.25 billion, a PE ratio of -17.57, a P/E/G ratio of 0.67 and a beta of 0.78. The firm’s 50 day simple moving average is $15.31 and its 200 day simple moving average is $13.70.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.52 billion. O-I Glass had a negative net margin of 2.01% and a positive return on equity of 18.07%. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.05) earnings per share. On average, research analysts anticipate that O-I Glass will post 1.33 earnings per share for the current year.

Hedge Funds Weigh In On O-I Glass

Institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC increased its stake in shares of O-I Glass by 87.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 830 shares in the last quarter. Headlands Technologies LLC acquired a new stake in O-I Glass in the second quarter worth $29,000. Quarry LP acquired a new stake in O-I Glass in the fourth quarter worth $32,000. Caitong International Asset Management Co. Ltd increased its stake in O-I Glass by 36,533.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 2,192 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of O-I Glass by 64.1% during the second quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 918 shares during the period. 97.24% of the stock is currently owned by institutional investors.

O-I Glass Company Profile

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.