O-I Glass (NYSE:OI) Price Target Cut to $22.00

O-I Glass (NYSE:OI) had its price target decreased by Robert W. Baird from $28.00 to $22.00 in a research note released on Thursday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the industrial products company’s stock.

A number of other research analysts have also commented on the company. 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 on the stock. TheStreet lowered shares of O-I Glass from a b- rating to a c- rating in a research report on Tuesday, February 6th. Barclays boosted their price objective on shares of 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. Citigroup downgraded shares of O-I Glass from a buy rating to a neutral rating and lifted their target price for the stock from $17.00 to $18.00 in a report on Wednesday, January 3rd. Finally, Bank of America restated a neutral rating and set a $16.00 price target (down from $21.00) on shares of O-I Glass in a report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, O-I Glass has a consensus rating of Hold and a consensus price target of $19.89.

O-I Glass Stock Up 0.6 %

NYSE:OI traded up $0.08 during mid-day trading on Thursday, reaching $13.17. The stock had a trading volume of 1,483,504 shares, compared to its average volume of 1,925,177. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.02 and a quick ratio of 0.77. The stock has a market cap of $2.05 billion, a P/E ratio of -8.28, a PEG ratio of 1.22 and a beta of 1.36. The business’s 50 day moving average is $15.71 and its 200 day moving average is $15.54. O-I Glass has a fifty-two week low of $12.40 and a fifty-two week high of $23.57.

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

Institutional Trading of O-I Glass

Hedge funds have recently modified their holdings of the company. Markel Group Inc. raised its stake in shares of O-I Glass by 14.9% in the 1st quarter. Markel Group Inc. now owns 539,100 shares of the industrial products company’s stock valued at $8,944,000 after buying an additional 70,000 shares in the last quarter. FinTrust Capital Advisors LLC bought a new stake in O-I Glass in the first quarter valued at about $38,000. Hartree Partners LP acquired a new position in O-I Glass in the first quarter worth about $4,911,000. Fidelis Capital Partners LLC bought a new position in O-I Glass during the first quarter worth about $33,000. Finally, Assenagon Asset Management S.A. boosted its holdings in O-I Glass by 32.0% during the first quarter. Assenagon Asset Management S.A. now owns 2,644,360 shares of the industrial products company’s stock valued at $43,870,000 after purchasing an additional 641,493 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

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.