O-I Glass (NYSE:OI) PT Lowered to $15.00 at Barclays

O-I Glass (NYSE:OI) had its price objective decreased by Barclays from $18.00 to $15.00 in a research note issued to investors on Monday morning, Benzinga reports. Barclays currently has an equal weight rating on the industrial products company’s stock.

Several other research analysts have also commented on the stock. Truist Financial reiterated a buy rating and set a $17.00 price objective (down previously from $20.00) on shares of O-I Glass in a research note on Thursday, May 2nd. Wells Fargo & Company reduced their price target on O-I Glass from $22.00 to $19.00 and set an overweight rating on the stock in a research report on Thursday, May 2nd. UBS Group assumed coverage on O-I Glass in a research note on Tuesday, January 16th. They set a buy rating and a $26.00 target price on the stock. Bank of America reiterated a neutral rating and issued a $16.00 price target (down from $21.00) on shares of O-I Glass in a research note on Friday, April 19th. Finally, StockNews.com lowered O-I Glass from a hold rating to a sell rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $19.56.

O-I Glass Stock Performance

Shares of OI stock opened at $13.40 on Monday. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -8.42, a PEG ratio of 1.34 and a beta of 1.36. O-I Glass has a 52-week low of $12.40 and a 52-week high of $23.57. The company has a quick ratio of 0.56, a current ratio of 1.02 and a debt-to-equity ratio of 2.26. The company’s 50 day moving average is $15.49 and its 200 day moving average is $15.50.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. O-I Glass had a positive return on equity of 18.25% and a negative net margin of 3.45%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same period last year, the business posted $1.29 EPS. The business’s revenue was down 13.0% compared to the same quarter last year. On average, sell-side analysts anticipate that O-I Glass will post 1.6 EPS for the current fiscal year.

Hedge Funds Weigh In On O-I Glass

A number of institutional investors have recently bought and sold shares of OI. Covestor Ltd grew its holdings in O-I Glass by 259.7% during the third quarter. Covestor Ltd now owns 1,669 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 1,205 shares during the period. Quadrant Capital Group LLC grew its stake in shares of O-I Glass by 37.3% during the 4th quarter. Quadrant Capital Group LLC now owns 5,168 shares of the industrial products company’s stock worth $85,000 after purchasing an additional 1,404 shares during the period. Comerica Bank increased its holdings in shares of O-I Glass by 1.8% during the 4th quarter. Comerica Bank now owns 81,833 shares of the industrial products company’s stock valued at $1,340,000 after purchasing an additional 1,411 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in shares of O-I Glass by 1.1% in the 1st quarter. Texas Permanent School Fund Corp now owns 135,154 shares of the industrial products company’s stock valued at $2,242,000 after purchasing an additional 1,465 shares during the period. Finally, Lumbard & Kellner LLC boosted its holdings in O-I Glass by 1.4% during the fourth quarter. Lumbard & Kellner LLC now owns 125,708 shares of the industrial products company’s stock worth $2,059,000 after buying an additional 1,793 shares in the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.

About O-I Glass

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.