O-I Glass (NYSE:OI) Cut to "Hold" at Wall Street Zen

Key Points

• O-I Glass has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting changing analyst sentiment towards the stock.
• The company's stock price recently fell by 1.4%, reaching $12.94, while its average price target among analysts is currently $17.00.
• Insider purchasing activity includes significant stock acquisitions by SVP Darrow A. Abrahams and CEO Gordon Hardie, suggesting potential confidence in the company's future performance.

O-I Glass (NYSE:OI - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Friday.

OI has been the subject of a number of other research reports. Bank of America reaffirmed a "neutral" rating and set a $17.00 price objective (up previously from $15.00) on shares of O-I Glass in a research report on Wednesday, July 9th. Truist Financial set a $21.00 price objective on shares of O-I Glass and gave the company a "buy" rating in a research report on Friday, July 11th. Zacks Research downgraded shares of O-I Glass from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 25th. Citigroup boosted their price objective on shares of O-I Glass from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Thursday, July 3rd. Finally, Wells Fargo & Company reaffirmed a "mixed" rating on shares of O-I Glass in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $17.00.

O-I Glass Stock Down 1.4%

Shares of OI traded down $0.18 during midday trading on Friday, hitting $12.94. The company had a trading volume of 1,020,263 shares, compared to its average volume of 1,319,823. The company's 50 day moving average price is $13.08 and its 200 day moving average price is $13.09. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -7.84, a PEG ratio of 0.25 and a beta of 0.93. O-I Glass has a 52 week low of $9.23 and a 52 week high of $16.04. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 3.58.

O-I Glass (NYSE:OI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.12. O-I Glass had a negative net margin of 3.95% and a positive return on equity of 13.70%. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. The company's revenue for the quarter 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, equities research analysts predict that O-I Glass will post 1.33 EPS for the current year.

Insider Transactions at O-I Glass

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

Institutional Trading of O-I Glass

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its stake in O-I Glass by 2.3% during the first quarter. Principal Financial Group Inc. now owns 767,260 shares of the industrial products company's stock valued at $8,800,000 after purchasing an additional 17,254 shares during the last quarter. SG Americas Securities LLC lifted its stake in O-I Glass by 117.7% during the first quarter. SG Americas Securities LLC now owns 45,766 shares of the industrial products company's stock valued at $525,000 after purchasing an additional 24,743 shares during the last quarter. American Century Companies Inc. lifted its stake in O-I Glass by 11.0% during the first quarter. American Century Companies Inc. now owns 326,153 shares of the industrial products company's stock valued at $3,741,000 after purchasing an additional 32,339 shares during the last quarter. GAMMA Investing LLC lifted its stake in O-I Glass by 79.3% during 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 last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in O-I Glass during the first quarter valued at approximately $658,000. 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.

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