O-I Glass (NYSE:OI - Free Report) had its target price reduced by Wells Fargo & Company from $18.00 to $16.00 in a research report report published on Monday,Benzinga reports. They currently have an overweight rating on the industrial products company's stock.
OI has been the topic of several other reports. 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 report on Friday, November 1st. Bank of America upgraded O-I Glass from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $14.00 to $16.00 in a report on Thursday, October 17th. Citigroup raised their price target on shares of O-I Glass from $14.00 to $15.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. Barclays decreased their price objective on shares of O-I Glass from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Thursday, October 31st. Finally, StockNews.com raised shares of O-I Glass from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $15.38.
Check Out Our Latest Stock Report on O-I Glass
O-I Glass Trading Up 3.7 %
Shares of OI stock traded up $0.39 during mid-day trading on Monday, hitting $10.96. 1,321,901 shares of the company's stock were exchanged, compared to its average volume of 1,368,300. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -3.97 and a beta of 1.21. The stock has a 50-day simple moving average of $11.74 and a two-hundred day simple moving average of $11.97. O-I Glass has a fifty-two week low of $9.85 and a fifty-two week high of $17.58. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18.
O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) EPS 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 analysts' expectations of $1.76 billion. O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The firm's quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 EPS. Equities analysts expect that O-I Glass will post 0.76 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of OI. JPMorgan Chase & Co. boosted its stake in O-I Glass by 18.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company's stock valued at $8,130,000 after acquiring an additional 94,671 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of O-I Glass during the third quarter worth about $263,000. Geode Capital Management LLC grew its stake in O-I Glass by 1.1% in the third quarter. Geode Capital Management LLC now owns 3,568,443 shares of the industrial products company's stock worth $46,827,000 after purchasing an additional 37,238 shares in the last quarter. Barclays PLC increased its holdings in O-I Glass by 349.3% in the third quarter. Barclays PLC now owns 261,161 shares of the industrial products company's stock valued at $3,427,000 after buying an additional 203,037 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in O-I Glass during the third quarter valued at approximately $148,000. Hedge funds and other institutional investors own 97.24% of the company's stock.
About O-I Glass
(
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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.
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