O-I Glass (NYSE:OI) PT Lowered to $18.00

O-I Glass (NYSE:OI) had its target price cut by UBS Group from $26.00 to $18.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

A number of other equities research analysts have also recently commented on the company. Robert W. Baird cut their target price on O-I Glass from $28.00 to $22.00 and set an outperform rating on the stock in a research note on Thursday, May 2nd. Wells Fargo & Company reduced their price objective on shares of O-I Glass from $19.00 to $18.00 and set an overweight rating for the company in a research note on Wednesday. Royal Bank of Canada decreased their target price on shares of O-I Glass from $25.00 to $21.00 and set an outperform rating for the company in a report on Thursday, May 2nd. Citigroup reduced their price target on shares of O-I Glass from $14.00 to $12.00 and set a neutral rating for the company in a research report on Monday, July 8th. Finally, Truist Financial restated a buy rating and issued a $17.00 price objective (down from $20.00) on shares of O-I Glass in a report on Thursday, May 2nd. One investment 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. Based on data from MarketBeat, O-I Glass currently has an average rating of Hold and a consensus target price of $17.89.

O-I Glass Trading Down 2.4 %

Shares of NYSE OI opened at $11.31 on Wednesday. O-I Glass has a 1 year low of $10.08 and a 1 year high of $23.57. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.02 and a quick ratio of 0.56. The firm has a 50-day moving average of $11.82 and a 200 day moving average of $14.24. The stock has a market cap of $1.76 billion, a P/E ratio of -7.11, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24.

O-I Glass (NYSE:OI) last released its earnings results on Tuesday, April 30th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.09. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.69 billion. O-I Glass had a negative net margin of 3.45% and a positive return on equity of 18.25%. The business’s revenue was down 13.0% on a year-over-year basis. During the same period last year, the business earned $1.29 earnings per share. As a group, sell-side analysts expect that O-I Glass will post 1.71 EPS for the current fiscal year.

Institutional Trading of O-I Glass

Several large investors have recently modified their holdings of OI. Norges Bank purchased a new stake in O-I Glass during the fourth quarter valued at approximately $27,562,000. Assenagon Asset Management S.A. raised its holdings in O-I Glass by 132.6% in 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 purchasing an additional 1,141,680 shares during the period. Levin Capital Strategies L.P. lifted its position in O-I Glass by 66.0% during the first quarter. Levin Capital Strategies L.P. now owns 2,808,105 shares of the industrial products company’s stock valued at $46,586,000 after purchasing an additional 1,116,340 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in O-I Glass during the first quarter valued at about $14,603,000. Finally, Dimensional Fund Advisors LP increased its position in O-I Glass by 12.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,615,054 shares of the industrial products company’s stock worth $108,358,000 after buying 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.