Weiss Ratings Reaffirms Sell (D-) Rating for O-I Glass (NYSE:OI)

Key Points

• Weiss Ratings has restated its "sell (D-)" rating for O-I Glass, indicating ongoing concerns regarding the company's stock performance.
• O-I Glass's stock fell by 2.4%, closing at $12.04, with a current consensus rating of "Moderate Buy" and a price target of $17.00.
• Despite the negative ratings, O-I Glass reported earnings of $0.53 EPS for the last quarter, surpassing estimates, but showed a decline in revenue year-over-year.

O-I Glass (NYSE:OI - Get Free Report)'s stock had its "sell (d-)" rating restated by equities researchers at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other brokerages also recently commented on OI. Zacks Research downgraded O-I Glass from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 25th. Bank of America restated a "neutral" rating and set a $17.00 price objective (up from $15.00) on shares of O-I Glass in a research report on Wednesday, July 9th. UBS Group reaffirmed a "buy" rating and set a $19.00 target price (up previously from $17.00) on shares of O-I Glass in a research note on Wednesday, July 9th. Truist Financial set a $21.00 target price on O-I Glass and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, BNP Paribas set a $18.00 price objective on O-I Glass in a research note on Wednesday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, O-I Glass presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.00.

O-I Glass Stock Down 2.4%

OI stock traded down $0.30 on Wednesday, reaching $12.04. 60,481 shares of the company traded hands, compared to its average volume of 1,518,396. O-I Glass has a one year low of $9.23 and a one year high of $16.04. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.24 and a quick ratio of 0.77. The company has a market cap of $1.85 billion, a P/E ratio of -7.30, a price-to-earnings-growth ratio of 0.23 and a beta of 0.93. The firm has a fifty day simple moving average of $12.99 and a 200-day simple moving average of $13.09.

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

Insider Activity

In other news, CEO Gordon Hardie acquired 8,000 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was bought at an average cost of $13.10 per share, for a total transaction of $104,800.00. Following the purchase, the chief executive officer owned 515,817 shares in the company, valued at approximately $6,757,202.70. This represents a 1.58% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Darrow A. Abrahams acquired 3,828 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were purchased at an average price of $13.05 per share, with a total value of $49,955.40. Following the completion of the purchase, the senior vice president owned 184,447 shares in the company, valued at $2,407,033.35. This represents a 2.12% increase in their position. The disclosure for this purchase can be found here. 0.93% of the stock is owned by insiders.

Institutional Investors Weigh In On O-I Glass

Large investors have recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in O-I Glass during the 2nd quarter worth approximately $29,000. State of Wyoming acquired a new position in shares of O-I Glass during the 2nd quarter worth approximately $35,000. Smartleaf Asset Management LLC boosted its holdings in shares of O-I Glass by 64.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company's stock worth $35,000 after purchasing an additional 918 shares during the last quarter. GAMMA Investing LLC lifted 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 acquiring an additional 1,142 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in O-I Glass in the first quarter valued at approximately $30,000. 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.

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