O-I Glass (NYSE:OI) Price Target Lowered to $15.00 at Barclays

O-I Glass (NYSE:OI) had its target price decreased by stock analysts at Barclays from $18.00 to $15.00 in a report released on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s target price would indicate a potential upside of 11.94% from the company’s current price.

A number of other equities analysts also recently commented on OI. StockNews.com downgraded O-I Glass from a “hold” rating to a “sell” rating in a report on Thursday, May 2nd. Robert W. Baird dropped their price target on shares of O-I Glass from $28.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd. Wells Fargo & Company cut their price target on shares of O-I Glass from $22.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. TheStreet downgraded shares of O-I Glass from a “b-” rating to a “c-” rating in a research report on Tuesday, February 6th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $16.00 price target (down previously from $21.00) on shares of O-I Glass in a research report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $19.56.

O-I Glass Trading Up 0.3 %

O-I Glass stock opened at $13.40 on Monday. O-I Glass has a 12 month low of $12.40 and a 12 month high of $23.57. The company has a quick ratio of 0.56, a current ratio of 1.02 and a debt-to-equity ratio of 2.26. The stock has a market cap of $2.09 billion, a P/E ratio of -8.43, a P/E/G ratio of 1.34 and a beta of 1.36. The company’s fifty day simple moving average is $15.56 and its 200-day simple moving average is $15.52.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. O-I Glass had a positive return on equity of 18.25% and a negative net margin of 3.45%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter last year, the firm earned $1.29 earnings per share. The business’s revenue for the quarter was down 13.0% on a year-over-year basis. As a group, sell-side analysts forecast that O-I Glass will post 1.6 EPS for the current fiscal year.

Hedge Funds Weigh In On O-I Glass

A number of institutional investors have recently made changes to their positions in OI. Raymond James Financial Services Advisors Inc. grew its holdings in O-I Glass by 4.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 155,152 shares of the industrial products company’s stock valued at $2,596,000 after buying an additional 6,580 shares during the last quarter. Mackenzie Financial Corp increased its position in O-I Glass by 15.5% during the third quarter. Mackenzie Financial Corp now owns 18,929 shares of the industrial products company’s stock worth $304,000 after acquiring an additional 2,540 shares during the period. TD Asset Management Inc increased its position in O-I Glass by 75.0% during the third quarter. TD Asset Management Inc now owns 22,400 shares of the industrial products company’s stock worth $375,000 after acquiring an additional 9,600 shares during the period. Allspring Global Investments Holdings LLC increased its position in O-I Glass by 29.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 10,289 shares of the industrial products company’s stock worth $172,000 after acquiring an additional 2,365 shares during the period. Finally, Levin Capital Strategies L.P. boosted its holdings in O-I Glass by 4.0% in the 3rd quarter. Levin Capital Strategies L.P. now owns 1,091,526 shares of the industrial products company’s stock valued at $18,261,000 after purchasing an additional 42,075 shares during the period. 97.24% of the stock is currently owned by institutional investors.

O-I Glass Company Profile

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.