O-I Glass (NYSE:OI) Given Underperform Rating at Bank of America

O-I Glass (NYSE:OI)‘s stock had its “underperform” rating restated by equities researchers at Bank of America in a research note issued to investors on Tuesday, MarketBeat Ratings reports. They presently have a $11.00 price objective on the industrial products company’s stock. Bank of America‘s target price would indicate a potential upside of 23.94% from the stock’s previous close.

Several other brokerages have also issued reports on OI. Citigroup cut their target price on shares of O-I Glass from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. UBS Group decreased their price target on shares of O-I Glass from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Royal Bank Of Canada dropped their price objective on shares of O-I Glass from $14.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday. Truist Financial reissued a “buy” rating and set a $14.00 price objective (down from $15.00) on shares of O-I Glass in a research report on Thursday, April 30th. Finally, Weiss Ratings downgraded O-I Glass from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 30th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $13.86.

O-I Glass Trading Down 7.6%

OI stock traded down $0.72 during mid-day trading on Tuesday, reaching $8.88. The company’s stock had a trading volume of 682,603 shares, compared to its average volume of 2,436,711. O-I Glass has a 12 month low of $7.75 and a 12 month high of $16.91. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 3.35. The business’s 50 day moving average price is $9.02 and its 200 day moving average price is $11.65. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -7.24, a price-to-earnings-growth ratio of 1.14 and a beta of 0.62.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.47 billion. O-I Glass had a positive return on equity of 13.65% and a negative net margin of 2.91%.O-I Glass’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.40 earnings per share. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. On average, equities research analysts predict that O-I Glass will post 1.17 EPS for the current year.

Insider Activity at O-I Glass

In other O-I Glass news, SVP Eduardo Restrepo acquired 3,309 shares of the stock in a transaction on Thursday, May 14th. The shares were purchased at an average price of $8.98 per share, for a total transaction of $29,714.82. Following the completion of the acquisition, the senior vice president owned 94,199 shares in the company, valued at approximately $845,907.02. This represents a 3.64% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Randolph L. Burns bought 11,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were acquired at an average cost of $9.32 per share, with a total value of $102,520.00. Following the completion of the transaction, the senior vice president owned 133,932 shares of the company’s stock, valued at $1,248,246.24. This represents a 8.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders acquired 17,083 shares of company stock valued at $157,312. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On O-I Glass

A number of hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its stake in shares of O-I Glass by 87.6% in the fourth quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 830 shares during the last quarter. Headlands Technologies LLC bought a new stake in O-I Glass during the second quarter worth $29,000. Quarry LP bought a new stake in O-I Glass during the fourth quarter worth $32,000. Caitong International Asset Management Co. Ltd raised its position in O-I Glass by 36,533.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock valued at $32,000 after buying an additional 2,192 shares during the last quarter. Finally, State of Wyoming purchased a new stake in O-I Glass in the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

About O-I Glass

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.