O-I Glass (NYSE:OI) Upgraded at StockNews.com

StockNews.com upgraded shares of O-I Glass (NYSE:OI) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

Other analysts also recently issued research reports about the stock. Robert W. Baird lowered their price objective on shares of O-I Glass from $22.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Wells Fargo & Company lowered their price target on shares of O-I Glass from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. Bank of America upgraded shares of O-I Glass from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $16.00 in a report on Thursday, October 17th. Royal Bank of Canada dropped their target price on O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Barclays lowered their price objective on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.25.

O-I Glass Stock Up 3.0 %

Shares of OI stock opened at $13.15 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18. O-I Glass has a fifty-two week low of $10.08 and a fifty-two week high of $17.58. The firm’s 50 day moving average price is $12.65 and its two-hundred day moving average price is $12.29.

O-I Glass (NYSE:OI) last posted its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.08). O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the firm posted $0.80 EPS. The business’s revenue was down 3.7% compared to the same quarter last year. Research analysts predict that O-I Glass will post 0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On O-I Glass

Several institutional investors have recently made changes to their positions in OI. Everence Capital Management Inc. boosted its position in O-I Glass by 6.1% during the 3rd quarter. Everence Capital Management Inc. now owns 15,550 shares of the industrial products company’s stock worth $204,000 after acquiring an additional 890 shares during the period. Diversified Trust Co raised its stake in shares of O-I Glass by 2.0% during the third quarter. Diversified Trust Co now owns 49,596 shares of the industrial products company’s stock valued at $651,000 after purchasing an additional 965 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in O-I Glass by 28.4% in the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 1,136 shares during the period. Mackenzie Financial Corp grew its position in O-I Glass by 6.1% in the 2nd quarter. Mackenzie Financial Corp now owns 20,091 shares of the industrial products company’s stock valued at $224,000 after buying an additional 1,162 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in O-I Glass by 40.2% during the 1st quarter. Bessemer Group Inc. now owns 4,597 shares of the industrial products company’s stock valued at $76,000 after buying an additional 1,318 shares during the period. 97.24% of the stock is owned by institutional investors.

O-I Glass Company Profile

O-I Glass, Inc, through its subsidiaries, engages in the manufacture and sale of glass containers to food and beverage manufacturers primarily in the Americas, Europe, and internationally. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.