O-I Glass (NYSE:OI) Price Target Lowered to $11.00 at Citigroup

O-I Glass (NYSE:OI - Get Free Report) had its price target reduced by analysts at Citigroup from $12.00 to $11.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the industrial products company's stock. Citigroup's price target suggests a potential upside of 0.36% from the stock's current price.

Several other brokerages also recently commented on OI. Bank of America increased their target price on shares of O-I Glass from $14.00 to $15.00 and gave the company a "buy" rating in a report on Monday. Wells Fargo & Company decreased their price objective on shares of O-I Glass from $18.00 to $16.00 and set an "overweight" rating for the company in a research note on Monday. Royal Bank of Canada cut their target price on O-I Glass from $18.00 to $16.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. Barclays decreased their price target on O-I Glass from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Thursday, October 31st. Finally, StockNews.com raised O-I Glass from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $15.38.

O-I Glass Stock Up 3.7 %

Shares of O-I Glass stock traded up $0.39 during trading hours on Monday, reaching $10.96. The company's stock had a trading volume of 1,321,901 shares, compared to its average volume of 1,368,300. The company has a market capitalization of $1.69 billion, a P/E ratio of -3.97 and a beta of 1.21. The stock's fifty day simple moving average is $11.74 and its two-hundred day simple moving average is $11.97. O-I Glass has a one year low of $9.85 and a one year high of $17.58. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.77 and a current ratio of 1.23.

O-I Glass (NYSE:OI - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.08). The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. O-I Glass's revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 EPS. On average, research analysts forecast that O-I Glass will post 0.76 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OI. Dimensional Fund Advisors LP raised its holdings in O-I Glass by 8.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,093,723 shares of the industrial products company's stock valued at $78,952,000 after acquiring an additional 573,300 shares during the period. Geode Capital Management LLC raised its stake in shares of O-I Glass by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,568,443 shares of the industrial products company's stock valued at $46,827,000 after purchasing an additional 37,238 shares during the period. Levin Capital Strategies L.P. lifted its holdings in O-I Glass by 25.0% during the 2nd quarter. Levin Capital Strategies L.P. now owns 3,511,413 shares of the industrial products company's stock worth $39,082,000 after purchasing an additional 703,308 shares in the last quarter. Private Management Group Inc. boosted its stake in O-I Glass by 20.8% in the 3rd quarter. Private Management Group Inc. now owns 3,025,731 shares of the industrial products company's stock worth $39,698,000 after purchasing an additional 520,452 shares during the period. Finally, Segall Bryant & Hamill LLC purchased a new position in O-I Glass during the 3rd quarter valued at about $32,350,000. 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.