O-I Glass, Inc. (NYSE:OI – Get Free Report) rose 8.7% on Thursday. The company traded as high as $6.49 and last traded at $6.5650. 1,940,896 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 2,839,687 shares. The stock had previously closed at $6.04.
Analyst Ratings Changes
OI has been the topic of a number of recent analyst reports. UBS Group lowered shares of O-I Glass from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $11.00 to $6.00 in a research note on Monday, October 5th. Zacks Research upgraded O-I Glass from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Truist Financial dropped their price target on O-I Glass from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Wells Fargo & Company decreased their target price on shares of O-I Glass from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Weiss Ratings downgraded O-I Glass from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $9.06.
View Our Latest Stock Report on OI
O-I Glass Stock Up 5.8%
The company has a debt-to-equity ratio of 8.89, a quick ratio of 0.77 and a current ratio of 1.26. The firm has a market capitalization of $982.04 million, a P/E ratio of -0.85, a P/E/G ratio of 2.27 and a beta of 0.68. The stock has a fifty day moving average price of $6.38 and a two-hundred day moving average price of $8.16.
O-I Glass (NYSE:OI – Get Free Report) last issued its earnings results on Tuesday, July 28th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.15). O-I Glass had a positive return on equity of 10.40% and a negative net margin of 18.13%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the business earned $0.53 EPS. The business’s revenue was down 2.2% on a year-over-year basis. Research analysts forecast that O-I Glass, Inc. will post 0.36 EPS for the current year.
Institutional Trading of O-I Glass
Several institutional investors have recently modified their holdings of OI. BlackRock Inc. bought a new stake in O-I Glass in the second quarter worth about $225,727,000. Bank of America Corp DE purchased a new stake in O-I Glass in the 2nd quarter worth approximately $33,436,000. Cooper Creek Partners Management LLC boosted its position in O-I Glass by 73.8% during the first quarter. Cooper Creek Partners Management LLC now owns 7,006,293 shares of the industrial products company’s stock valued at $73,636,000 after purchasing an additional 2,975,181 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in shares of O-I Glass in the 2nd quarter valued at approximately $19,260,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of O-I Glass in the 2nd quarter valued at $10,046,000. Institutional investors and hedge funds own 97.24% of the company’s stock.
O-I Glass Company Profile
O-I Glass, Inc is a global manufacturer of glass packaging products. The company produces glass bottles and jars primarily for the food, beverage, beer, wine, spirits, and pharmaceutical industries, serving brand owners and consumer-products companies.
Its products are designed to provide packaging, preservation, and presentation for a range of consumer goods. O-I also offers glass packaging in various shapes, sizes, and colors, including custom solutions developed for individual brands.
The company traces its history to the Owens Bottle Company, founded in 1903, and the Illinois Glass Company.
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