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

O-I Glass (NYSE:OI) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Thursday.

OI has been the subject of several other research reports. Citigroup lowered O-I Glass from a “buy” rating to a “neutral” rating and boosted their target price for the company from $17.00 to $18.00 in a research report on Wednesday, January 3rd. Barclays upped their price objective on O-I Glass from $16.00 to $18.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 13th. TheStreet downgraded O-I Glass from a “b-” rating to a “c-” rating in a research report on Tuesday, February 6th. Wells Fargo & Company cut their price target on shares of O-I Glass from $22.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Robert W. Baird decreased 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 report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, O-I Glass has an average rating of “Hold” and an average price target of $19.89.

O-I Glass Trading Up 0.6 %

NYSE:OI traded up $0.08 during midday trading on Thursday, hitting $13.17. 1,483,504 shares of the company traded hands, compared to its average volume of 1,925,177. The firm has a market capitalization of $2.05 billion, a P/E ratio of -8.28, a P/E/G ratio of 1.22 and a beta of 1.36. The firm’s fifty day moving average is $15.71 and its 200-day moving average is $15.54. O-I Glass has a 12-month low of $12.40 and a 12-month 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 announced its earnings results on Tuesday, April 30th. The industrial products company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.09. O-I Glass had a negative net margin of 3.45% and a positive return on equity of 18.25%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the firm posted $1.29 earnings per share. The business’s revenue for the quarter was down 13.0% on a year-over-year basis. On average, sell-side analysts predict that O-I Glass will post 1.75 EPS for the current year.

Hedge Funds Weigh In On O-I Glass

Several institutional investors have recently bought and sold shares of OI. Covestor Ltd boosted its position in O-I Glass by 259.7% during the 3rd quarter. Covestor Ltd now owns 1,669 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 1,205 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in shares of O-I Glass by 37.3% during the 4th quarter. Quadrant Capital Group LLC now owns 5,168 shares of the industrial products company’s stock worth $85,000 after purchasing an additional 1,404 shares during the last quarter. Comerica Bank boosted its position in O-I Glass by 1.8% during the fourth quarter. Comerica Bank now owns 81,833 shares of the industrial products company’s stock valued at $1,340,000 after purchasing an additional 1,411 shares in the last quarter. Lumbard & Kellner LLC grew its stake in O-I Glass by 1.4% in the fourth quarter. Lumbard & Kellner LLC now owns 125,708 shares of the industrial products company’s stock valued at $2,059,000 after purchasing an additional 1,793 shares during the last quarter. Finally, Diversified Trust Co raised its holdings in O-I Glass by 4.9% in the fourth quarter. Diversified Trust Co now owns 39,752 shares of the industrial products company’s stock worth $651,000 after purchasing an additional 1,846 shares in the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.

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.