O-I Glass (NYSE:OI) Downgraded by StockNews.com to Hold

O-I Glass (NYSE:OI – Get Rating) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

A number of other equities analysts also recently weighed in on OI. Royal Bank of Canada boosted their target price on shares of O-I Glass from $34.00 to $37.00 in a research note on Thursday, April 27th. KeyCorp boosted their price target on shares of O-I Glass from $12.00 to $15.00 and gave the stock an “underweight” rating in a research note on Thursday, February 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of O-I Glass from $18.00 to $24.00 and gave the stock a “hold” rating in a research note on Thursday, February 2nd. Wells Fargo & Company boosted their price target on shares of O-I Glass from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 5th. Finally, Barclays boosted their price target on shares of O-I Glass from $18.00 to $19.00 in a research note on Monday, May 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $24.70.

O-I Glass Trading Up 0.6 %

Shares of NYSE OI opened at $21.75 on Friday. O-I Glass has a 1-year low of $11.60 and a 1-year high of $23.52. The company has a market cap of $3.38 billion, a PE ratio of 4.93, a P/E/G ratio of 0.50 and a beta of 1.36. The company has a current ratio of 1.22, a quick ratio of 0.77 and a debt-to-equity ratio of 2.34. The company has a 50-day moving average of $21.85 and a two-hundred day moving average of $19.95.

O-I Glass (NYSE:OI – Get Rating) last announced its earnings results on Tuesday, April 25th. The industrial products company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.46. O-I Glass had a net margin of 10.04% and a return on equity of 31.48%. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the previous year, the firm posted $0.56 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. As a group, equities analysts expect that O-I Glass will post 3.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On O-I Glass

Several large investors have recently bought and sold shares of OI. Citigroup Inc. increased its stake in O-I Glass by 6.8% in the first quarter. Citigroup Inc. now owns 135,235 shares of the industrial products company’s stock valued at $1,783,000 after purchasing an additional 8,576 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in O-I Glass by 4.5% in the first quarter. PNC Financial Services Group Inc. now owns 74,856 shares of the industrial products company’s stock valued at $986,000 after purchasing an additional 3,197 shares in the last quarter. Natixis Advisors L.P. increased its stake in O-I Glass by 28.0% in the first quarter. Natixis Advisors L.P. now owns 23,746 shares of the industrial products company’s stock valued at $313,000 after purchasing an additional 5,200 shares in the last quarter. MetLife Investment Management LLC increased its stake in O-I Glass by 52.5% in the first quarter. MetLife Investment Management LLC now owns 78,076 shares of the industrial products company’s stock valued at $1,029,000 after purchasing an additional 26,893 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of O-I Glass by 2.8% in the first quarter. Rhumbline Advisers now owns 413,166 shares of the industrial products company’s stock valued at $5,446,000 after buying an additional 11,382 shares during the period. Institutional investors own 93.60% of the company’s stock.

O-I Glass Company Profile

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O-I Glass, Inc engages in manufacturing of glass products. It offers products to the food and beverage sectors. The firm operates through the following geographical segments: Americas, Europe, and Asia Pacific. The company was founded in 1929 and is headquartered in Perrysburg, OH.