Barclays Has Lowered Expectations for O-I Glass (NYSE:OI) Stock Price

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

Other analysts have also issued research reports about the company. Citigroup boosted their price target 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. Robert W. Baird reduced their price objective on O-I Glass from $22.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Bank of America raised O-I Glass from a “neutral” rating to a “buy” rating and lifted their price target for the company from $14.00 to $16.00 in a report on Thursday, October 17th. UBS Group decreased their price objective on shares of O-I Glass from $26.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Finally, StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Three investment 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, O-I Glass has a consensus rating of “Moderate Buy” and a consensus target price of $16.25.

O-I Glass Trading Up 1.2 %

Shares of O-I Glass stock opened at $11.24 on Thursday. The company’s fifty day moving average price is $12.67 and its two-hundred day moving average price is $12.42. The firm has a market capitalization of $1.74 billion, a PE ratio of -4.07 and a beta of 1.20. O-I Glass has a 52-week low of $10.08 and a 52-week high of $17.58. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.23 and a quick ratio of 0.75.

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

Insider Activity

In other news, Director John Humphrey bought 15,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $11.30 per share, for a total transaction of $169,500.00. Following the completion of the acquisition, the director now owns 84,227 shares in the company, valued at approximately $951,765.10. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.49% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On O-I Glass

Large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of O-I Glass by 1.2% in the first quarter. Vanguard Group Inc. now owns 19,362,262 shares of the industrial products company’s stock valued at $321,220,000 after buying an additional 221,823 shares during the period. Dimensional Fund Advisors LP boosted its stake in O-I Glass by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,093,723 shares of the industrial products company’s stock worth $78,952,000 after purchasing an additional 573,300 shares during the period. Levin Capital Strategies L.P. increased its holdings in O-I Glass by 25.0% during the 2nd quarter. Levin Capital Strategies L.P. now owns 3,511,413 shares of the industrial products company’s stock worth $39,082,000 after purchasing an additional 703,308 shares in the last quarter. Private Management Group Inc. raised its stake in shares of O-I Glass by 20.8% in the 3rd quarter. Private Management Group Inc. now owns 3,025,731 shares of the industrial products company’s stock valued at $39,698,000 after purchasing an additional 520,452 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of O-I Glass by 27.5% in the second quarter. Millennium Management LLC now owns 1,965,426 shares of the industrial products company’s stock valued at $21,875,000 after purchasing an additional 424,102 shares in the last quarter. 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.