O-I Glass (NYSE:OI) PT Raised to $13.00 at Barclays

O-I Glass (NYSE:OIGet Rating) had its target price raised by Barclays from $12.00 to $13.00 in a research report issued to clients and investors on Monday, The Fly reports. The brokerage presently has an “underweight” rating on the industrial products company’s stock. Barclays‘s target price would indicate a potential downside of 23.03% from the stock’s current price.

A number of other brokerages also recently issued reports on OI. Deutsche Bank Aktiengesellschaft decreased their price objective on O-I Glass from $16.00 to $13.00 in a research report on Tuesday, July 19th. Royal Bank of Canada lifted their target price on O-I Glass from $15.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 3rd. StockNews.com downgraded O-I Glass from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 5th. Bank of America decreased their target price on O-I Glass from $18.00 to $17.00 in a research report on Thursday, October 13th. Finally, Wells Fargo & Company lifted their target price on O-I Glass from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.86.

O-I Glass Trading Up 1.7 %

Shares of OI stock opened at $16.89 on Monday. O-I Glass has a 1 year low of $10.64 and a 1 year high of $17.94. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.16 and a quick ratio of 0.78. The stock’s 50 day simple moving average is $14.87 and its two-hundred day simple moving average is $14.49. The company has a market cap of $2.62 billion, a PE ratio of 4.38, a price-to-earnings-growth ratio of 2.42 and a beta of 1.42.

Institutional Investors Weigh In On O-I Glass

A number of hedge funds have recently made changes to their positions in OI. Markel Corp lifted its position in shares of O-I Glass by 90.8% during the first quarter. Markel Corp now owns 458,000 shares of the industrial products company’s stock valued at $6,036,000 after buying an additional 218,000 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in O-I Glass by 4.7% in the first quarter. Mutual of America Capital Management LLC now owns 22,425 shares of the industrial products company’s stock worth $296,000 after purchasing an additional 999 shares during the last quarter. Levin Capital Strategies L.P. acquired a new position in shares of O-I Glass during the first quarter worth $26,306,000. Hourglass Capital LLC lifted its holdings in shares of O-I Glass by 36.6% during the 1st quarter. Hourglass Capital LLC now owns 139,500 shares of the industrial products company’s stock valued at $1,839,000 after purchasing an additional 37,390 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of O-I Glass by 59.7% in the 1st quarter. Victory Capital Management Inc. now owns 53,993 shares of the industrial products company’s stock worth $728,000 after purchasing an additional 20,176 shares in the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

About O-I Glass

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O-I Glass, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in the Americas, Europe, and the Asia Pacific. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. It is also involved in the production of glass packaging for various food items, soft drinks, tea, juices, and pharmaceuticals.

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