O-I Glass (NYSE:OI) Downgraded by StockNews.com

StockNews.com downgraded shares of O-I Glass (NYSE:OI) from a hold rating to a sell rating in a research note published on Thursday.

Other analysts have also issued research reports about the stock. Bank of America reissued a neutral rating and issued a $16.00 price objective (down previously from $21.00) on shares of O-I Glass in a research report on Friday, April 19th. Robert W. Baird reduced their price objective on shares of O-I Glass from $28.00 to $22.00 and set an outperform rating for the company in a research note on Thursday. UBS Group began coverage on O-I Glass in a research report on Tuesday, January 16th. They issued a buy rating and a $26.00 target price on the stock. Wells Fargo & Company reduced their price target on O-I Glass from $22.00 to $19.00 and set an overweight rating for the company in a research report on Thursday. Finally, Barclays raised their price target on O-I Glass from $16.00 to $18.00 and gave the company an equal weight rating in a research note on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, O-I Glass currently has an average rating of Hold and an average target price of $19.89.

O-I Glass Stock Performance

OI stock opened at $13.17 on Thursday. The stock has a 50-day moving average price of $15.71 and a two-hundred day moving average price of $15.54. O-I Glass has a 1 year low of $12.40 and a 1 year high of $23.57. The company has a current ratio of 1.02, a quick ratio of 0.77 and a debt-to-equity ratio of 2.26.

O-I Glass (NYSE:OI) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.69 billion. O-I Glass had a positive return on equity of 18.25% and a negative net margin of 3.45%. O-I Glass’s quarterly revenue was down 13.0% on a year-over-year basis. During the same period last year, the company earned $1.29 earnings per share. Analysts expect that O-I Glass will post 1.6 EPS for the current year.

Institutional Trading of O-I Glass

Several institutional investors and hedge funds have recently bought and sold shares of the business. Covestor Ltd increased its holdings in shares of O-I Glass by 259.7% during the 3rd quarter. Covestor Ltd now owns 1,669 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 1,205 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in O-I Glass during the first quarter worth $33,000. TFO Wealth Partners LLC increased its holdings in shares of O-I Glass by 24,311.1% in the fourth quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 2,188 shares during the last quarter. FinTrust Capital Advisors LLC bought a new position in shares of O-I Glass in the first quarter valued at about $38,000. Finally, Signaturefd LLC bought a new position in shares of O-I Glass in the third quarter valued at about $62,000. 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.