O-I Glass (NYSE:OI) Price Target Cut to $13.00 by Analysts at Barclays

by · The Markets Daily

O-I Glass (NYSE:OI – Get Free Report) had its price target decreased by Barclays from $14.00 to $13.00 in a report released on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price target indicates a potential upside of 16.80% from the company’s previous close.

Other analysts have also issued research reports about the company. Royal Bank of Canada decreased their price target on O-I Glass from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Truist Financial restated a “buy” rating and set a $16.00 target price (down previously from $17.00) on shares of O-I Glass in a research report on Thursday, August 1st. Bank of America upgraded O-I Glass from a “neutral” rating to a “buy” rating and increased their price target for the stock from $14.00 to $16.00 in a report on Thursday, October 17th. Finally, UBS Group dropped their price objective on O-I Glass from $26.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

View Our Latest Research Report on O-I Glass

O-I Glass Stock Down 3.6 %

Shares of O-I Glass stock traded down $0.42 during midday trading on Thursday, hitting $11.13. The company had a trading volume of 1,154,286 shares, compared to its average volume of 1,688,079. O-I Glass has a 52-week low of $10.08 and a 52-week high of $17.58. The stock has a market capitalization of $1.73 billion, a P/E ratio of -7.08 and a beta of 1.17. The company has a 50 day moving average of $12.72 and a 200 day moving average of $12.47. The company has a debt-to-equity ratio of 2.85, a quick ratio of 0.75 and a current ratio of 1.26.

O-I Glass (NYSE:OI – Get Free Report) last posted its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.07). The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. O-I Glass had a negative net margin of 4.32% and a positive return on equity of 15.64%. The firm’s revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 EPS. On average, equities analysts predict that O-I Glass will post 1.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director John Humphrey acquired 15,000 shares of O-I Glass stock in a transaction that occurred on Tuesday, August 6th. The shares were purchased at an average price of $11.30 per share, for a total transaction of $169,500.00. Following the completion of the transaction, the director now owns 84,227 shares in the company, valued at $951,765.10. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.49% of the company’s stock.

Institutional Trading of O-I Glass

A number of large investors have recently made changes to their positions in OI. Susquehanna Fundamental Investments LLC purchased a new stake in shares of O-I Glass in the 1st quarter worth about $1,021,000. Duality Advisers LP purchased a new position in shares of O-I Glass in the 1st quarter valued at $1,554,000. Vanguard Group Inc. lifted its stake in shares of O-I Glass by 1.2% during the first quarter. Vanguard Group Inc. now owns 19,362,262 shares of the industrial products company’s stock worth $321,220,000 after purchasing an additional 221,823 shares in the last quarter. Private Management Group Inc. grew its stake in shares of O-I Glass by 21.3% in the second quarter. Private Management Group Inc. now owns 2,505,279 shares of the industrial products company’s stock valued at $27,884,000 after buying an additional 439,838 shares in the last quarter. Finally, Huber Capital Management LLC lifted its position in O-I Glass by 200.5% during the 2nd quarter. Huber Capital Management LLC now owns 193,215 shares of the industrial products company’s stock worth $2,150,000 after acquiring an additional 128,915 shares in the last quarter. 97.24% of the stock is owned by institutional investors and hedge funds.

O-I Glass Company Profile

(Get Free Report)

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.

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