O-I Glass (NYSE:OI) Stock Rating Lowered by Wall Street Zen

Wall Street Zen downgraded shares of O-I Glass (NYSE:OI) from a buy rating to a hold rating in a research note released on Friday.

OI has been the subject of a number of other reports. Wells Fargo & Company reissued a “mixed” rating on shares of O-I Glass in a report on Monday, August 4th. UBS Group reissued a “buy” rating and issued a $19.00 price objective (up from $17.00) on shares of O-I Glass in a report on Wednesday, July 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of O-I Glass in a report on Saturday, September 27th. Bank of America reissued a “neutral” rating and issued a $17.00 price objective (up from $15.00) on shares of O-I Glass in a report on Wednesday, July 9th. Finally, Truist Financial set a $21.00 price objective on O-I Glass and gave the company a “buy” rating in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.00.

O-I Glass Trading Down 1.4%

O-I Glass stock opened at $12.94 on Friday. The stock has a 50-day moving average of $13.08 and a two-hundred day moving average of $13.09. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.77 and a current ratio of 1.24. O-I Glass has a one year low of $9.23 and a one year high of $16.04. The stock has a market cap of $1.99 billion, a PE ratio of -7.84, a price-to-earnings-growth ratio of 0.25 and a beta of 0.93.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.12. O-I Glass had a positive return on equity of 13.70% and a negative net margin of 3.95%.The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period last year, the business posted $0.44 earnings per share. The firm’s revenue was down 1.3% compared to the same quarter last year. O-I Glass has set its FY 2025 guidance at 1.300-1.55 EPS. On average, research analysts anticipate that O-I Glass will post 1.33 EPS for the current fiscal year.

Insider Activity

In related news, SVP Darrow A. Abrahams bought 3,828 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The shares were purchased at an average cost of $13.05 per share, with a total value of $49,955.40. Following the completion of the acquisition, the senior vice president directly owned 184,447 shares in the company, valued at approximately $2,407,033.35. The trade was a 2.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gordon Hardie bought 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The shares were bought at an average cost of $13.10 per share, for a total transaction of $104,800.00. Following the completion of the acquisition, the chief executive officer owned 515,817 shares of the company’s stock, valued at $6,757,202.70. This trade represents a 1.58% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.93% of the stock is owned by company insiders.

Institutional Trading of O-I Glass

Several hedge funds and other institutional investors have recently bought and sold shares of OI. Headlands Technologies LLC acquired a new stake in O-I Glass during the second quarter worth about $29,000. GAMMA Investing LLC grew its holdings in O-I Glass by 79.3% in the first quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 1,142 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in O-I Glass in the first quarter valued at approximately $30,000. Smartleaf Asset Management LLC grew its holdings in O-I Glass by 64.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 918 shares during the period. Finally, State of Wyoming acquired a new stake in O-I Glass in the second quarter valued at approximately $35,000. 97.24% of the stock is owned by institutional investors and hedge funds.

About O-I Glass

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.