O-I Glass (NYSE:OI) Rating Increased to Hold at Zacks Research

O-I Glass (NYSE:OI) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities analysts have also commented on OI. Citigroup cut their price target on shares of O-I Glass from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. 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 reaffirmed an “underperform” rating and issued a $11.00 price objective on shares of O-I Glass in a research note on Tuesday. Royal Bank Of Canada lowered their price target on shares of O-I Glass from $14.00 to $11.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Finally, Wells Fargo & Company cut shares of O-I Glass from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $18.00 to $13.00 in a research report on Friday, March 20th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, O-I Glass currently has a consensus rating of “Hold” and a consensus price target of $13.86.

O-I Glass Trading Down 11.8%

Shares of NYSE:OI opened at $8.46 on Monday. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.26 and a quick ratio of 0.73. O-I Glass has a 1 year low of $7.75 and a 1 year high of $16.91. The company has a market capitalization of $1.30 billion, a P/E ratio of -6.94, a P/E/G ratio of 1.13 and a beta of 0.62. The business’s 50 day simple moving average is $9.01 and its 200 day simple moving average is $11.61.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.04). The firm had revenue of $1.54 billion for 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 firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 earnings per share. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. On average, research analysts anticipate that O-I Glass will post 1.17 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Darrow A. Abrahams acquired 2,774 shares of the stock in a transaction dated Monday, May 11th. The stock was purchased at an average cost of $9.04 per share, with a total value 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Randolph L. Burns bought 11,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average cost of $9.32 per share, for a total transaction of $102,520.00. Following the transaction, the senior vice president owned 133,932 shares of the company’s stock, valued at $1,248,246.24. The trade was a 8.95% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 17,083 shares of company stock valued at $157,312. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of O-I Glass

Several institutional investors and hedge funds have recently made changes to their positions in OI. PNC Financial Services Group Inc. grew its position in O-I Glass by 1.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 37,828 shares of the industrial products company’s stock valued at $558,000 after acquiring an additional 701 shares during the last quarter. Barclays PLC lifted its holdings in shares of O-I Glass by 0.3% in the 4th quarter. Barclays PLC now owns 246,766 shares of the industrial products company’s stock worth $3,642,000 after acquiring an additional 755 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of O-I Glass by 87.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 830 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of O-I Glass by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 29,887 shares of the industrial products company’s stock valued at $441,000 after purchasing an additional 911 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in O-I Glass by 64.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 918 shares during the period. Hedge funds and other institutional investors own 97.24% of the company’s stock.

About O-I Glass

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.