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

O-I Glass (NYSE:OI) had its price target trimmed by Barclays from $14.00 to $13.00 in a report issued on Thursday, Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

Several other equities analysts also recently weighed in on the company. Royal Bank of Canada reduced their target price on O-I Glass from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Citigroup lifted their price objective on O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. UBS Group dropped their price objective on shares of O-I Glass from $26.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company reduced their target price on shares of O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.50.

O-I Glass Stock Up 1.0 %

NYSE:OI traded up $0.11 during trading hours on Thursday, hitting $11.22. The company’s stock had a trading volume of 176,744 shares, compared to its average volume of 1,686,036. The company has a current ratio of 1.23, a quick ratio of 0.75 and a debt-to-equity ratio of 3.18. 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 $1.74 billion, a P/E ratio of -4.07 and a beta of 1.17. The stock has a fifty day moving average of $12.70 and a 200-day moving average of $12.46.

O-I Glass (NYSE:OI) last announced its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.08). O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the business posted $0.80 earnings per share. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, equities analysts forecast that O-I Glass will post 0.75 earnings per share for the current year.

Insider Activity

In related news, Director John Humphrey bought 15,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average price of $11.30 per share, with a total value 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. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.49% of the company’s stock.

Institutional Investors Weigh In On O-I Glass

Institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. bought a new stake in O-I Glass during the third quarter worth $27,000. Newbridge Financial Services Group Inc. lifted its position in O-I Glass by 1,337.5% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 2,675 shares in the last quarter. GAMMA Investing LLC lifted its position in O-I Glass by 371.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 1,892 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in shares of O-I Glass during the 1st quarter worth approximately $33,000. Finally, FinTrust Capital Advisors LLC purchased a new stake in shares of O-I Glass during the 1st quarter worth approximately $38,000. 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.