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

O-I Glass (NYSE:OI) had its price target dropped by analysts at Barclays from $18.00 to $15.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price target would indicate a potential upside of 11.19% from the company’s current price.

Several other research analysts have also commented on the company. UBS Group assumed coverage on O-I Glass in a research report on Tuesday, January 16th. They issued a “buy” rating and a $26.00 price objective on the stock. Bank of America restated a “neutral” rating and set a $16.00 price objective (down previously from $21.00) on shares of O-I Glass in a research note on Friday, April 19th. TheStreet lowered shares of O-I Glass from a “b-” rating to a “c-” rating in a research note on Tuesday, February 6th. Wells Fargo & Company decreased their price target on shares of O-I Glass from $22.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Truist Financial restated a “buy” rating and set a $17.00 price target (down previously from $20.00) on shares of O-I Glass in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, O-I Glass currently has an average rating of “Hold” and an average target price of $19.56.

O-I Glass Trading Up 2.4 %

NYSE:OI traded up $0.32 during mid-day trading on Monday, reaching $13.49. The company’s stock had a trading volume of 677,866 shares, compared to its average volume of 1,746,568. O-I Glass has a twelve month low of $12.40 and a twelve month high of $23.57. The company’s fifty day simple moving average is $15.71 and its two-hundred day simple moving average is $15.55. The stock has a market cap of $2.10 billion, a P/E ratio of -8.51, a P/E/G ratio of 1.34 and a beta of 1.36. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.02 and a quick ratio of 0.56.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp raised its holdings in O-I Glass by 414.2% in the 3rd quarter. Van ECK Associates Corp now owns 129,826 shares of the industrial products company’s stock valued at $2,172,000 after acquiring an additional 104,576 shares during the period. Levin Capital Strategies L.P. grew its stake in shares of O-I Glass by 55.0% during the fourth quarter. Levin Capital Strategies L.P. now owns 1,691,765 shares of the industrial products company’s stock worth $27,711,000 after buying an additional 600,239 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in O-I Glass during the 3rd quarter worth about $1,757,000. New York State Common Retirement Fund increased its holdings in O-I Glass by 14.4% during the 3rd quarter. New York State Common Retirement Fund now owns 523,860 shares of the industrial products company’s stock worth $8,764,000 after acquiring an additional 65,835 shares during the period. Finally, American Century Companies Inc. boosted its stake in O-I Glass by 7.8% during the third quarter. American Century Companies Inc. now owns 1,672,400 shares of the industrial products company’s stock valued at $27,979,000 after buying an additional 121,495 shares during the period. Institutional investors own 97.24% of the company’s stock.

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.