O-I Glass (NYSE:OI) Price Target Cut to $14.00 by Analysts at Barclays

O-I Glass (NYSE:OI) had its price objective trimmed by Barclays from $15.00 to $14.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an equal weight rating on the industrial products company’s stock.

A number of other equities research analysts have also recently commented on the company. Robert W. Baird lowered their target price on O-I Glass from $22.00 to $18.00 and set an outperform rating on the stock in a research note on Thursday. Wells Fargo & Company lowered their target price on O-I Glass from $19.00 to $18.00 and set an overweight rating on the stock in a research note on Wednesday, July 17th. Bank of America reissued a neutral rating and issued a $16.00 price objective (down previously from $21.00) on shares of O-I Glass in a report on Friday, April 19th. UBS Group decreased 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. Finally, StockNews.com lowered O-I Glass from a hold rating to a sell rating in a report on Tuesday, July 9th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, O-I Glass presently has a consensus rating of Moderate Buy and an average price target of $17.22.

O-I Glass Price Performance

OI traded down $0.42 on Thursday, hitting $12.10. 835,836 shares of the stock were exchanged, compared to its average volume of 1,789,158. O-I Glass has a 12 month low of $10.08 and a 12 month high of $20.86. The business has a 50-day moving average of $11.56 and a two-hundred day moving average of $14.01. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.02 and a quick ratio of 0.56. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -7.87, a PEG ratio of 1.36 and a beta of 1.24.

O-I Glass (NYSE:OI) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. O-I Glass had a negative net margin of 4.32% and a positive return on equity of 15.10%. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 earnings per share. Sell-side analysts forecast that O-I Glass will post 1.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OI. Thompson Investment Management Inc. boosted its stake in shares of O-I Glass by 84.2% in the 1st quarter. Thompson Investment Management Inc. now owns 393,883 shares of the industrial products company’s stock worth $6,535,000 after buying an additional 180,093 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in O-I Glass in the 1st quarter worth $1,021,000. Duality Advisers LP bought a new stake in O-I Glass during the first quarter valued at about $1,554,000. Norges Bank bought a new stake in O-I Glass during the fourth quarter valued at about $27,562,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of O-I Glass by 8.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,474,863 shares of the industrial products company’s stock worth $24,158,000 after purchasing an additional 115,728 shares during the last quarter. 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.