O-I Glass (NYSE:OI) Lowered to Sell at StockNews.com

StockNews.com cut shares of O-I Glass (NYSE:OI) from a hold rating to a sell rating in a research report released on Thursday.

Several other equities research analysts have also issued reports on the company. TheStreet lowered O-I Glass from a b- rating to a c- rating in a research note on Tuesday, February 6th. Barclays lifted their price target on O-I Glass from $16.00 to $18.00 and gave the company an equal weight rating in a research report on Tuesday, February 13th. Citigroup lowered O-I Glass from a buy rating to a neutral rating and boosted their price objective for the stock from $17.00 to $18.00 in a report on Wednesday, January 3rd. Wells Fargo & Company lowered their target price on shares of O-I Glass from $22.00 to $19.00 and set an overweight rating on the stock in a research note on Thursday. Finally, Robert W. Baird cut their price target on shares of O-I Glass from $28.00 to $22.00 and set an outperform rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, O-I Glass has a consensus rating of Hold and a consensus price target of $19.56.

O-I Glass Price Performance

OI stock traded up $0.19 during mid-day trading on Thursday, reaching $13.36. 1,314,325 shares of the company traded hands, compared to its average volume of 1,749,147. O-I Glass has a 52-week low of $12.40 and a 52-week high of $23.57. The company has a market capitalization of $2.08 billion, a P/E ratio of -8.48, a P/E/G ratio of 1.34 and a beta of 1.36. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.02 and a quick ratio of 0.56. The company has a fifty day moving average price of $15.71 and a 200-day moving average price of $15.55.

O-I Glass (NYSE:OI) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.36 by $0.09. O-I Glass had a negative net margin of 3.45% and a positive return on equity of 18.25%. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the company earned $1.29 earnings per share. O-I Glass’s revenue for the quarter was down 13.0% on a year-over-year basis. As a group, analysts anticipate that O-I Glass will post 1.6 earnings per share for the current year.

Institutional Trading of O-I Glass

Several institutional investors have recently added to or reduced their stakes in OI. Dimensional Fund Advisors LP grew its holdings in shares of O-I Glass by 12.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,615,054 shares of the industrial products company’s stock worth $108,358,000 after purchasing an additional 728,493 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of O-I Glass by 32.0% in the first quarter. Assenagon Asset Management S.A. now owns 2,644,360 shares of the industrial products company’s stock valued at $43,870,000 after acquiring an additional 641,493 shares during the period. Cooper Creek Partners Management LLC raised its stake in shares of O-I Glass by 39.6% during the third quarter. Cooper Creek Partners Management LLC now owns 2,200,187 shares of the industrial products company’s stock valued at $36,809,000 after acquiring an additional 623,705 shares during the last quarter. Luminus Management LLC boosted its holdings in shares of O-I Glass by 69.4% during the third quarter. Luminus Management LLC now owns 2,140,678 shares of the industrial products company’s stock worth $35,814,000 after purchasing an additional 877,172 shares during the period. Finally, Private Management Group Inc. grew its stake in shares of O-I Glass by 0.7% in the fourth quarter. Private Management Group Inc. now owns 2,051,886 shares of the industrial products company’s stock worth $33,610,000 after purchasing an additional 14,018 shares during the last quarter. 97.24% of the stock is currently owned by hedge funds and other 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.