O-I Glass (NYSE:OI) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of O-I Glass (NYSE:OI) from a strong sell rating to a hold rating in a research note published on Monday,Zacks.com reports.

OI has been the topic of several other reports. Wells Fargo & Company downgraded O-I Glass from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $18.00 to $13.00 in a report on Friday, March 20th. Weiss Ratings cut O-I Glass from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 30th. Bank of America restated an “underperform” rating and set a $11.00 price objective on shares of O-I Glass in a research report on Tuesday. Royal Bank Of Canada cut their price objective on O-I Glass from $14.00 to $11.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Finally, UBS Group cut their price objective on O-I Glass from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, O-I Glass presently has a consensus rating of “Hold” and an average price target of $13.86.

O-I Glass Trading Down 11.8%

OI opened at $8.46 on Monday. O-I Glass has a fifty-two week low of $7.75 and a fifty-two week high of $16.91. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.26 and a quick ratio of 0.73. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -6.94, a PEG ratio of 1.13 and a beta of 0.62. The company’s 50 day moving average price is $9.01 and its two-hundred day moving average price is $11.61.

O-I Glass (NYSE:OI) last announced its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.04). The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.47 billion. O-I Glass had a negative net margin of 2.91% and a positive return on equity of 13.65%. The company’s revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.40 earnings per share. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. As a group, research analysts predict that O-I Glass will post 1.17 earnings per share for the current year.

Insider Buying and Selling at O-I Glass

In other O-I Glass news, SVP Randolph L. Burns acquired 11,000 shares of the stock in a transaction dated Friday, May 8th. The stock was purchased at an average cost of $9.32 per share, with a total value of $102,520.00. Following the transaction, the senior vice president owned 133,932 shares in the company, valued at approximately $1,248,246.24. The trade was a 8.95% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Darrow A. Abrahams acquired 2,774 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $9.04 per share, for a total transaction of $25,076.96. Following the completion of the purchase, the senior vice president directly owned 235,928 shares in the company, valued at $2,132,789.12. This trade represents a 1.19% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have bought 17,083 shares of company stock valued at $157,312. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On O-I Glass

Several institutional investors and hedge funds have recently made changes to their positions in the business. Brandywine Global Investment Management LLC bought a new position in shares of O-I Glass during the 4th quarter worth approximately $25,064,000. LSV Asset Management increased its stake in shares of O-I Glass by 12.4% in the 4th quarter. LSV Asset Management now owns 1,801,844 shares of the industrial products company’s stock valued at $26,595,000 after acquiring an additional 199,366 shares in the last quarter. MYDA Advisors LLC increased its stake in shares of O-I Glass by 318.0% in the 4th quarter. MYDA Advisors LLC now owns 292,620 shares of the industrial products company’s stock valued at $4,319,000 after acquiring an additional 222,620 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its position in shares of O-I Glass by 42.1% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,026,525 shares of the industrial products company’s stock valued at $29,912,000 after acquiring an additional 600,462 shares during the period. Finally, Bridgeway Capital Management LLC lifted its position in shares of O-I Glass by 11.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,230,523 shares of the industrial products company’s stock valued at $18,163,000 after acquiring an additional 128,988 shares during the period. Institutional investors own 97.24% of the company’s stock.

O-I Glass Company Profile

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.