Barclays Trims O-I Glass (NYSE:OI) Target Price to $15.00

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

A number of other research firms also recently issued reports on OI. Bank of America reaffirmed a neutral rating and set a $16.00 price objective (down from $21.00) on shares of O-I Glass in a report on Friday, April 19th. StockNews.com cut O-I Glass from a hold rating to a sell rating in a report on Thursday, May 2nd. Royal Bank of Canada dropped their target price on O-I Glass from $25.00 to $21.00 and set an outperform rating for the company in a research report on Thursday, May 2nd. Truist Financial reiterated a buy rating and set a $17.00 price target (down from $20.00) on shares of O-I Glass in a research report on Thursday, May 2nd. Finally, Robert W. Baird lowered their price objective on shares of O-I Glass from $28.00 to $22.00 and set an outperform rating for the company in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $19.56.

O-I Glass Stock Performance

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

O-I Glass (NYSE:OI) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $0.45 earnings per share for the quarter, topping 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 analyst estimates of $1.69 billion. During the same period in the prior year, the company earned $1.29 EPS. The company’s quarterly revenue was down 13.0% compared to the same quarter last year. Equities research analysts forecast that O-I Glass will post 1.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of O-I Glass during the 4th quarter valued at about $27,562,000. Assenagon Asset Management S.A. grew its holdings in shares of O-I Glass by 132.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,002,867 shares of the industrial products company’s stock worth $32,807,000 after acquiring an additional 1,141,680 shares during the period. Edmond DE Rothschild Holding S.A. bought a new position in shares of O-I Glass in the 1st quarter worth approximately $14,603,000. Luminus Management LLC lifted its stake in shares of O-I Glass by 69.4% in the 3rd quarter. Luminus Management LLC now owns 2,140,678 shares of the industrial products company’s stock valued at $35,814,000 after purchasing an additional 877,172 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of O-I Glass by 12.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,615,054 shares of the industrial products company’s stock valued at $108,358,000 after purchasing an additional 728,493 shares in the last quarter. 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.