O-I Glass (NYSE:OI) Raised to “Hold” at Zacks Research

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

A number of other research firms have also recently commented on OI. Royal Bank Of Canada reduced their price objective on O-I Glass from $14.00 to $11.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Truist Financial reissued a “buy” rating and issued a $14.00 target price (down from $15.00) on shares of O-I Glass in a research report on Thursday, April 30th. Citigroup dropped their target price on O-I Glass from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Bank of America restated an “underperform” rating and set a $11.00 price target on shares of O-I Glass in a research note on Tuesday. Finally, Weiss Ratings lowered shares of O-I Glass from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 30th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, O-I Glass presently has an average rating of “Hold” and a consensus price target of $13.86.

O-I Glass Trading Down 11.8%

NYSE:OI opened at $8.46 on Monday. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 3.35. O-I Glass has a 12 month low of $7.75 and a 12 month high of $16.91. The company has a market cap of $1.30 billion, a PE ratio of -6.94, a price-to-earnings-growth ratio of 1.13 and a beta of 0.62. The company has a 50 day simple moving average of $9.01 and a two-hundred day simple moving average of $11.61.

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

Insider Activity

In related news, SVP Eduardo Restrepo acquired 3,309 shares of O-I Glass stock in a transaction dated Thursday, May 14th. The stock was purchased at an average cost of $8.98 per share, for a total transaction of $29,714.82. Following the purchase, the senior vice president directly owned 94,199 shares of the company’s stock, valued at approximately $845,907.02. This trade represents a 3.64% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Randolph L. Burns acquired 11,000 shares of O-I Glass stock in a transaction dated Friday, May 8th. The stock was bought at an average price of $9.32 per share, with a total value of $102,520.00. Following the completion of the purchase, the senior vice president directly owned 133,932 shares in the company, valued at $1,248,246.24. This represents a 8.95% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 17,083 shares of company stock valued at $157,312 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Alliancebernstein L.P. boosted its holdings 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 worth $117,033,000 after buying an additional 5,244,440 shares during the period. Cooper Creek Partners Management LLC raised its position in shares of 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 valued at $73,636,000 after buying an additional 2,975,181 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of O-I Glass during the fourth quarter valued at approximately $40,090,000. Arrowstreet Capital Limited Partnership lifted its holdings 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 buying an additional 2,388,299 shares in the last quarter. Finally, Brandywine Global Investment Management LLC purchased a new position in shares of O-I Glass in the fourth quarter worth $25,064,000. 97.24% of the stock is currently owned by institutional investors.

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.