O-I Glass (NYSE:OI) Given New $19.00 Price Target at Wells Fargo & Company

O-I Glass (NYSE:OI) had its target price lowered by Wells Fargo & Company from $22.00 to $19.00 in a research report report published on Thursday, Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

A number of other equities research analysts also recently weighed in on OI. Truist Financial reissued a buy rating and set a $20.00 price target on shares of O-I Glass in a research note on Monday, March 25th. Citigroup downgraded O-I Glass from a buy rating to a neutral rating and raised their price target for the company from $17.00 to $18.00 in a report on Wednesday, January 3rd. UBS Group assumed coverage on O-I Glass in a report on Tuesday, January 16th. They set a buy rating and a $26.00 price objective for the company. StockNews.com cut shares of O-I Glass from a buy rating to a hold rating in a research report on Thursday, February 15th. Finally, 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $19.89.

O-I Glass Stock Performance

NYSE:OI traded up $0.08 during trading hours on Thursday, hitting $13.17. 1,483,504 shares of the company traded hands, compared to its average volume of 1,925,177. The company has a current ratio of 1.02, a quick ratio of 0.77 and a debt-to-equity ratio of 2.26. O-I Glass has a twelve month low of $12.40 and a twelve month high of $23.57. The firm has a 50-day moving average of $15.71 and a 200 day moving average of $15.54. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of -8.28, a P/E/G ratio of 1.22 and a beta of 1.36.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.09. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.69 billion. O-I Glass had a positive return on equity of 18.25% and a negative net margin of 3.45%. O-I Glass’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.29 EPS. On average, analysts forecast that O-I Glass will post 1.75 EPS for the current year.

Institutional Investors Weigh In On O-I Glass

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Covestor Ltd increased its stake in shares of O-I Glass by 259.7% in the 3rd quarter. Covestor Ltd now owns 1,669 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 1,205 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in O-I Glass during the first quarter valued at about $33,000. TFO Wealth Partners LLC increased its position in O-I Glass by 24,311.1% in the fourth quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock worth $36,000 after buying an additional 2,188 shares in the last quarter. FinTrust Capital Advisors LLC bought a new position in shares of O-I Glass in the first quarter worth about $38,000. Finally, Signaturefd LLC purchased a new position in shares of O-I Glass during the 3rd quarter valued at about $62,000. Hedge funds and other institutional investors own 97.24% of the company’s stock.

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.