O-I Glass (NYSE:OI) Given New $21.00 Price Target at Royal Bank of Canada

O-I Glass (NYSE:OI) had its price objective decreased by Royal Bank of Canada from $25.00 to $21.00 in a research note issued to investors on Thursday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the industrial products company’s stock.

Several other research analysts have also commented on OI. StockNews.com lowered shares of O-I Glass from a buy rating to a hold rating in a report on Thursday, February 15th. Wells Fargo & Company lowered their price target on O-I Glass from $22.00 to $19.00 and set an overweight rating for the company in a report on Thursday. Barclays boosted their price objective on O-I Glass from $16.00 to $18.00 and gave the stock an equal weight rating in a research note on Tuesday, February 13th. TheStreet lowered O-I Glass from a b- rating to a c- rating in a research note on Tuesday, February 6th. Finally, Robert W. Baird reduced their price target on O-I Glass from $28.00 to $22.00 and set an outperform rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $19.89.

O-I Glass Trading Up 0.6 %

NYSE:OI traded up $0.08 during trading hours on Thursday, reaching $13.17. 1,483,504 shares of the company were exchanged, compared to its average volume of 1,925,177. O-I Glass has a 52-week low of $12.40 and a 52-week high of $23.57. The stock has a 50 day simple moving average of $15.71 and a 200 day simple moving average of $15.54. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of -8.28, a PEG ratio of 1.22 and a beta of 1.36. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.02 and a quick ratio of 0.77.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $0.45 earnings per share 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 firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter last year, the firm earned $1.29 earnings per share. The firm’s revenue for the quarter was down 13.0% compared to the same quarter last year. As a group, analysts predict that O-I Glass will post 1.75 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Covestor Ltd grew its position 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 acquiring an additional 1,205 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in O-I Glass in the first quarter worth $33,000. TFO Wealth Partners LLC increased its stake in O-I Glass by 24,311.1% during the fourth quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 2,188 shares during the last quarter. FinTrust Capital Advisors LLC acquired a new stake in shares of O-I Glass during the first quarter worth $38,000. Finally, Signaturefd LLC bought a new position in shares of O-I Glass in the 3rd quarter worth about $62,000. 97.24% of the stock is currently owned by 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.