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

StockNews.com cut shares of O-I Glass (NYSE:OI) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

OI has been the subject of a number of other research reports. Royal Bank of Canada cut their price objective on shares of O-I Glass from $25.00 to $21.00 and set an outperform rating for the company in a research report on Thursday, May 2nd. 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 report on Thursday, May 2nd. Bank of America reaffirmed a neutral rating and issued a $16.00 price objective (down previously from $21.00) on shares of O-I Glass in a report on Friday, April 19th. Citigroup cut their target price on O-I Glass from $14.00 to $12.00 and set a neutral rating for the company in a research note on Monday, July 8th. Finally, Wells Fargo & Company decreased their price target on O-I Glass from $22.00 to $19.00 and set an overweight rating on the stock in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $18.89.

O-I Glass Stock Performance

Shares of OI stock opened at $11.36 on Tuesday. The stock’s 50-day moving average price is $12.01 and its 200 day moving average price is $14.43. The company has a quick ratio of 0.56, a current ratio of 1.02 and a debt-to-equity ratio of 2.26. The stock has a market capitalization of $1.77 billion, a PE ratio of -7.14, a price-to-earnings-growth ratio of 1.02 and a beta of 1.24. O-I Glass has a 52-week low of $10.08 and a 52-week high of $23.57.

O-I Glass (NYSE:OI) last released its earnings results on Tuesday, April 30th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. O-I Glass had a positive return on equity of 18.25% and a negative net margin of 3.45%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the previous year, the company posted $1.29 earnings per share. The company’s revenue for the quarter was down 13.0% compared to the same quarter last year. As a group, equities research analysts forecast that O-I Glass will post 1.67 EPS for the current year.

Institutional Investors Weigh In On O-I Glass

A number of large investors have recently added to or reduced their stakes in OI. Fidelis Capital Partners LLC acquired a new position in O-I Glass in the 1st quarter valued at about $33,000. TFO Wealth Partners LLC lifted its stake in shares of O-I Glass by 24,311.1% during the 4th quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 2,188 shares during the period. FinTrust Capital Advisors LLC purchased a new stake in shares of O-I Glass in the first quarter valued at $38,000. Headlands Technologies LLC purchased a new stake in shares of O-I Glass in the first quarter valued at $39,000. Finally, International Assets Investment Management LLC increased its stake in O-I Glass by 1,538.0% in the fourth quarter. International Assets Investment Management LLC now owns 4,095 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 3,845 shares during the last quarter. 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.