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

O-I Glass (NYSE:OI) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Sunday.

Other research analysts have also issued research reports about the company. Royal Bank Of Canada restated an “outperform” rating and set a $19.00 target price on shares of O-I Glass in a research report on Thursday, January 15th. Robert W. Baird set a $20.00 price target on shares of O-I Glass in a report on Thursday. Wells Fargo & Company raised shares of O-I Glass from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $15.00 to $18.00 in a research note on Tuesday, January 6th. Zacks Research cut O-I Glass from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Finally, UBS Group reissued a “buy” rating and set a $21.00 target price on shares of O-I Glass in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.22.

O-I Glass Stock Down 2.2%

Shares of OI stock opened at $14.76 on Friday. The stock has a market cap of $2.27 billion, a P/E ratio of -17.57, a PEG ratio of 0.19 and a beta of 0.78. The company’s fifty day simple moving average is $15.31 and its two-hundred day simple moving average is $13.69. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 3.35. O-I Glass has a 52 week low of $9.23 and a 52 week high of $16.91.

O-I Glass (NYSE:OI) last posted its earnings results on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.52 billion. O-I Glass had a negative net margin of 2.01% and a positive return on equity of 18.07%. O-I Glass’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) earnings per share. Analysts predict that O-I Glass will post 1.33 EPS for the current fiscal year.

Institutional Investors Weigh In On O-I Glass

A number of large investors have recently modified their holdings of the business. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in shares of O-I Glass during the third quarter valued at about $18,496,000. Castleark Management LLC purchased a new stake in shares of O-I Glass during the 2nd quarter worth approximately $4,942,000. Knights of Columbus Asset Advisors LLC boosted its position in shares of O-I Glass by 91.6% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 172,773 shares of the industrial products company’s stock valued at $2,241,000 after purchasing an additional 82,619 shares during the period. JPMorgan Chase & Co. grew its position in O-I Glass by 123.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,145,980 shares of the industrial products company’s stock worth $16,892,000 after purchasing an additional 633,875 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of O-I Glass in the third quarter valued at approximately $908,000. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Company Profile

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.