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

Wall Street Zen cut shares of O-I Glass (NYSE:OI - Free Report) from a buy rating to a hold rating in a report published on Saturday.

A number of other brokerages have also weighed in on OI. Citigroup raised their price objective on O-I Glass from $11.00 to $14.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Truist Financial reissued a "buy" rating and issued a $16.00 price objective (up previously from $13.00) on shares of O-I Glass in a report on Thursday, May 1st. Royal Bank Of Canada reiterated an "outperform" rating and issued a $16.00 target price on shares of O-I Glass in a report on Monday, March 17th. Finally, Barclays increased their price objective on O-I Glass from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, O-I Glass presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.88.

O-I Glass Price Performance

OI traded up $0.32 during trading on Friday, hitting $14.71. The company's stock had a trading volume of 3,006,006 shares, compared to its average volume of 1,545,984. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of -11.67, a P/E/G ratio of 0.29 and a beta of 0.96. O-I Glass has a twelve month low of $9.23 and a twelve month high of $14.82. The business's fifty day simple moving average is $12.96 and its 200 day simple moving average is $11.78. The company has a current ratio of 1.24, a quick ratio of 0.73 and a debt-to-equity ratio of 3.83.

O-I Glass (NYSE:OI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.18 by $0.22. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.55 billion. O-I Glass had a negative net margin of 2.98% and a positive return on equity of 8.48%. The firm's revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 EPS. On average, equities research analysts forecast that O-I Glass will post 1.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Highland Peak Capital LLC raised its position in O-I Glass by 87.5% in the 4th quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company's stock valued at $42,029,000 after purchasing an additional 1,809,237 shares during the last quarter. Cooper Creek Partners Management LLC raised its holdings in shares of O-I Glass by 18.2% in the fourth quarter. Cooper Creek Partners Management LLC now owns 11,082,262 shares of the industrial products company's stock valued at $120,132,000 after buying an additional 1,705,216 shares during the last quarter. Millennium Management LLC boosted its stake in shares of O-I Glass by 251.7% during the fourth quarter. Millennium Management LLC now owns 1,458,102 shares of the industrial products company's stock worth $15,806,000 after buying an additional 1,043,570 shares during the period. Mesirow Institutional Investment Management Inc. acquired a new stake in shares of O-I Glass during the fourth quarter worth about $10,885,000. Finally, MetLife Investment Management LLC grew its holdings in shares of O-I Glass by 1,043.3% during the first quarter. MetLife Investment Management LLC now owns 1,074,764 shares of the industrial products company's stock worth $12,328,000 after buying an additional 980,758 shares during the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

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.