Weiss Ratings Reiterates “Sell (D-)” Rating for O-I Glass (NYSE:OI)

O-I Glass (NYSE:OI)‘s stock had its “sell (d-)” rating reissued by investment analysts at Weiss Ratings in a report issued on Saturday,Weiss Ratings reports.

Several other brokerages also recently issued reports on OI. Wall Street Zen downgraded O-I Glass from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Truist Financial lowered their target price on O-I Glass from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, October 13th. UBS Group reissued a “buy” rating and issued a $19.00 target price (up from $17.00) on shares of O-I Glass in a research note on Wednesday, July 9th. Citigroup lifted their target price on O-I Glass from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, July 3rd. Finally, Bank of America reissued a “neutral” rating and issued a $17.00 target price (up from $15.00) on shares of O-I Glass in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $16.56.

O-I Glass Trading Up 0.7%

Shares of OI opened at $12.61 on Friday. The stock has a fifty day moving average price of $12.70 and a two-hundred day moving average price of $13.18. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.77 and a current ratio of 1.24. O-I Glass has a 52-week low of $9.23 and a 52-week high of $16.04. The company has a market cap of $1.94 billion, a price-to-earnings ratio of -7.64, a PEG ratio of 0.24 and a beta of 0.93.

O-I Glass (NYSE:OI) last issued its quarterly earnings data on Wednesday, March 1st. The industrial products company reported $0.36 earnings per share (EPS) for the quarter. O-I Glass had a positive return on equity of 13.70% and a negative net margin of 3.95%.The firm had revenue of $1.59 billion during the quarter. Analysts predict that O-I Glass will post 1.33 EPS for the current fiscal year.

Insider Transactions at O-I Glass

In other O-I Glass news, SVP Darrow A. Abrahams bought 3,828 shares of the firm’s stock in a transaction on Tuesday, August 5th. The stock was purchased at an average cost 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 approximately $2,407,033.35. The trade was a 2.12% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Gordon Hardie bought 8,000 shares of the firm’s stock in a transaction on Tuesday, August 5th. The stock was acquired 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 of the company’s stock, 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. 0.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OI. Headlands Technologies LLC bought a new stake in O-I Glass during the second quarter worth about $29,000. GAMMA Investing LLC raised its holdings 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 worth $30,000 after acquiring an additional 1,142 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in O-I Glass during the first quarter worth about $30,000. Smartleaf Asset Management LLC raised its holdings in O-I Glass by 64.1% during the second quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 918 shares in the last quarter. Finally, State of Wyoming bought a new stake in O-I Glass during the second quarter worth about $35,000. 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.