O-I Glass’ (OI) Underperform Rating Reiterated at Bank of America

O-I Glass (NYSE:OI)‘s stock had its “underperform” rating reaffirmed by equities research analysts at Bank of America in a report issued on Tuesday, MarketBeat Ratings reports. They currently have a $11.00 target price on the industrial products company’s stock. Bank of America‘s price target indicates a potential upside of 23.94% from the company’s current price.

A number of other brokerages also recently weighed in on OI. Weiss Ratings downgraded O-I Glass from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 30th. Truist Financial reaffirmed a “buy” rating and set a $14.00 price target (down from $15.00) on shares of O-I Glass in a research report on Thursday, April 30th. Citigroup dropped their price target on O-I Glass from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Wells Fargo & Company lowered O-I Glass from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $18.00 to $13.00 in a research report on Friday, March 20th. Finally, Royal Bank Of Canada cut their price target on shares of O-I Glass from $14.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $13.86.

O-I Glass Stock Down 7.6%

Shares of OI traded down $0.72 during trading hours on Tuesday, reaching $8.88. 682,603 shares of the stock traded hands, compared to its average volume of 2,436,711. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 3.35. The stock has a fifty day simple moving average of $9.02 and a 200 day simple moving average of $11.65. O-I Glass has a 52 week low of $7.75 and a 52 week high of $16.91. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -7.24, a PEG ratio of 1.14 and a beta of 0.62.

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

Insiders Place Their Bets

In other news, SVP Randolph L. Burns purchased 11,000 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were purchased at an average price of $9.32 per share, with a total value of $102,520.00. Following the transaction, the senior vice president directly owned 133,932 shares of the company’s stock, valued at approximately $1,248,246.24. This represents a 8.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Darrow A. Abrahams purchased 2,774 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $9.04 per share, for a total transaction of $25,076.96. Following the transaction, the senior vice president directly owned 235,928 shares in the company, valued at approximately $2,132,789.12. The trade was a 1.19% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 17,083 shares of company stock valued at $157,312 over the last ninety days. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On O-I Glass

Several large investors have recently added to or reduced their stakes in OI. Alliancebernstein L.P. raised its stake in O-I Glass by 194.6% in the 2nd quarter. Alliancebernstein L.P. now owns 7,939,841 shares of the industrial products company’s stock valued at $117,033,000 after acquiring an additional 5,244,440 shares during the period. 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 worth $73,636,000 after purchasing an additional 2,975,181 shares during the period. Wellington Management Group LLP purchased a new position in shares of O-I Glass in the fourth quarter worth about $40,090,000. Arrowstreet Capital Limited Partnership increased its stake in shares of O-I Glass by 288.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,215,632 shares of the industrial products company’s stock worth $47,463,000 after purchasing an additional 2,388,299 shares in the last quarter. Finally, Brandywine Global Investment Management LLC bought a new stake in shares of O-I Glass in the fourth quarter valued at approximately $25,064,000. Hedge funds and other 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.