Shares of O-I Glass, Inc. (NYSE:OI – Get Free Report) fell 7.1% during trading on Thursday after Barclays lowered their price target on the stock from $15.00 to $14.00. Barclays currently has an equal weight rating on the stock. O-I Glass traded as low as $12.35 and last traded at $12.41. 260,658 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 1,776,620 shares. The stock had previously closed at $13.36.
OI has been the topic of a number of other reports. StockNews.com lowered O-I Glass from a “hold” rating to a “sell” rating in a research report on Tuesday, July 9th. Wells Fargo & Company cut their target price on O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Truist Financial reissued a “buy” rating and set a $16.00 price target (down previously from $17.00) on shares of O-I Glass in a research report on Thursday. Bank of America reaffirmed a “neutral” rating and issued a $16.00 price target (down from $21.00) on shares of O-I Glass in a report on Friday, April 19th. Finally, Citigroup decreased their price objective on shares of O-I Glass from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Monday, July 8th. 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. Based on data from MarketBeat, O-I Glass currently has a consensus rating of “Hold” and an average target price of $17.22.
Institutional Trading of O-I Glass
Hedge funds have recently made changes to their positions in the stock. Camelot Portfolios LLC bought a new stake in O-I Glass in the fourth quarter valued at about $213,000. Total Clarity Wealth Management Inc. bought a new stake in shares of O-I Glass in the 4th quarter worth about $186,000. International Assets Investment Management LLC increased its position in shares of O-I Glass by 1,538.0% during the 4th quarter. International Assets Investment Management LLC now owns 4,095 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 3,845 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in O-I Glass by 3.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,946 shares of the industrial products company’s stock valued at $1,146,000 after purchasing an additional 2,289 shares during the last quarter. Finally, Smith Graham & Co. Investment Advisors LP grew its stake in O-I Glass by 5.1% during the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 341,029 shares of the industrial products company’s stock worth $5,586,000 after buying an additional 16,681 shares during the last quarter. Institutional investors own 97.24% of the company’s stock.
O-I Glass Trading Down 6.3 %
The company’s fifty day moving average price is $11.55 and its two-hundred day moving average price is $14.02. The company has a quick ratio of 0.56, a current ratio of 1.02 and a debt-to-equity ratio of 2.26. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -7.89, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24.
O-I Glass (NYSE:OI – Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. O-I Glass had a positive return on equity of 15.10% and a negative net margin of 4.32%. The business’s revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.88 earnings per share. Research analysts expect that O-I Glass, Inc. will post 1.71 earnings per share for the current year.
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.