O-I Glass, Inc. (NYSE:OI) Receives Consensus Recommendation of “Hold” from Brokerages

O-I Glass, Inc. (NYSE:OI) has been given a consensus recommendation of “Hold” by the nine brokerages that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $10.3125.

OI has been the topic of a number of research analyst reports. UBS Group cut their target price on shares of O-I Glass from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Royal Bank Of Canada downgraded shares of O-I Glass from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $10.00 to $8.00 in a report on Thursday, August 13th. Wells Fargo & Company dropped their price target on O-I Glass from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Bank of America reissued an “underperform” rating and set a $11.00 price objective on shares of O-I Glass in a report on Tuesday, July 14th. Finally, Truist Financial reduced their price objective on O-I Glass from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th.

O-I Glass Stock Down 3.4%

OI stock opened at $6.13 on Friday. The firm has a 50-day moving average price of $7.59 and a 200-day moving average price of $9.07. O-I Glass has a 12 month low of $6.07 and a 12 month high of $16.91. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 8.89. The stock has a market capitalization of $941.47 million, a P/E ratio of -0.81, a price-to-earnings-growth ratio of 2.25 and a beta of 0.66.

O-I Glass (NYSE:OI) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.15). The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.68 billion. O-I Glass had a negative net margin of 18.13% and a positive return on equity of 10.40%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. As a group, equities research analysts anticipate that O-I Glass will post 0.39 EPS for the current fiscal year.

Institutional Trading of O-I Glass

A number of institutional investors and hedge funds have recently bought and sold shares of OI. Sequoia Financial Advisors LLC acquired a new stake in shares of O-I Glass in the second quarter valued at about $139,000. IPG Investment Advisors LLC boosted its stake in shares of O-I Glass by 4.7% in the 2nd quarter. IPG Investment Advisors LLC now owns 548,063 shares of the industrial products company’s stock valued at $5,278,000 after purchasing an additional 24,705 shares during the last quarter. Waverly Advisors LLC acquired a new stake in O-I Glass during the 2nd quarter worth about $135,000. Corient Private Wealth LP acquired a new stake in O-I Glass during the second quarter worth approximately $254,000. Finally, Amundi boosted its holdings in shares of O-I Glass by 5.3% during the 2nd quarter. Amundi now owns 178,649 shares of the industrial products company’s stock worth $1,721,000 after buying an additional 8,921 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.

O-I Glass Company Profile

O-I Glass, Inc (NYSE: OI) is a global manufacturer of glass packaging. The company produces bottles and jars primarily for the food, beverage, beer, wine, spirits, and nonalcoholic beverage industries, as well as containers for certain pharmaceutical and other consumer products.

O-I Glass provides packaging solutions that include container design, lightweighting, glass decoration, and related technical services. Its products are made from glass, a material that can be recycled repeatedly without loss of quality, supporting the company’s focus on recyclable and more sustainable packaging.

The company traces its history to the Owens Bottle Company, founded in 1903, and later became known as Owens-Illinois before adopting the O-I Glass name.