O-I Glass (NYSE:OI) Lowered to Sell at StockNews.com

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

A number of other equities analysts have also recently issued reports on the company. UBS Group started coverage on O-I Glass in a report on Tuesday, January 16th. They issued a buy rating and a $26.00 target price on the stock. Bank of America reiterated a neutral rating and set a $16.00 price objective (down from $21.00) on shares of O-I Glass in a report on Friday, April 19th. Barclays upped their target price on shares of O-I Glass from $16.00 to $18.00 and gave the stock an equal weight rating in a report on Tuesday, February 13th. Robert W. Baird cut their price target on O-I Glass from $28.00 to $22.00 and set an outperform rating for the company in a research note on Thursday. Finally, Royal Bank of Canada lowered their price objective on O-I Glass from $25.00 to $21.00 and set an outperform rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, O-I Glass presently has an average rating of Hold and an average price target of $19.89.

O-I Glass Trading Up 0.6 %

Shares of O-I Glass stock traded up $0.08 on Thursday, reaching $13.17. 1,483,504 shares of the company’s stock were exchanged, compared to its average volume of 1,925,177. The company has a market capitalization of $2.05 billion, a P/E ratio of -8.28, a price-to-earnings-growth ratio of 1.22 and a beta of 1.36. O-I Glass has a 52 week low of $12.40 and a 52 week high of $23.57. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.77 and a current ratio of 1.02. The firm’s 50-day moving average is $15.71 and its two-hundred day moving average is $15.54.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.45 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 analysts’ expectations of $1.69 billion. O-I Glass had a negative net margin of 3.45% and a positive return on equity of 18.25%. The business’s quarterly revenue was down 13.0% on a year-over-year basis. During the same period last year, the company posted $1.29 earnings per share. Sell-side analysts predict that O-I Glass will post 1.75 EPS for the current fiscal year.

Hedge Funds Weigh In On O-I Glass

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in shares of O-I Glass by 12.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,615,054 shares of the industrial products company’s stock worth $108,358,000 after acquiring an additional 728,493 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of O-I Glass by 32.0% in the first quarter. Assenagon Asset Management S.A. now owns 2,644,360 shares of the industrial products company’s stock worth $43,870,000 after purchasing an additional 641,493 shares in the last quarter. Cooper Creek Partners Management LLC raised its position in shares of O-I Glass by 39.6% in the third quarter. Cooper Creek Partners Management LLC now owns 2,200,187 shares of the industrial products company’s stock valued at $36,809,000 after purchasing an additional 623,705 shares during the period. Luminus Management LLC lifted its stake in shares of O-I Glass by 69.4% during the 3rd quarter. Luminus Management LLC now owns 2,140,678 shares of the industrial products company’s stock valued at $35,814,000 after buying an additional 877,172 shares in the last quarter. Finally, Private Management Group Inc. boosted its holdings in O-I Glass by 0.7% in the 4th quarter. Private Management Group Inc. now owns 2,051,886 shares of the industrial products company’s stock worth $33,610,000 after buying an additional 14,018 shares during the period. 97.24% of the stock is owned by hedge funds and other institutional investors.

About O-I Glass

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.