O-I Glass (NYSE:OI) PT Lowered to $15.00

O-I Glass (NYSE:OI - Get Free Report) had its price objective lowered by equities researchers at Barclays from $18.00 to $15.00 in a report issued on Monday, Benzinga reports. The firm presently has an "equal weight" rating on the industrial products company's stock. Barclays's price objective indicates a potential upside of 12.32% from the company's current price.

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. Royal Bank of Canada cut their price target on O-I Glass from $25.00 to $21.00 and set an "outperform" rating for the company in a report on Thursday. UBS Group started coverage on O-I Glass in a report on Tuesday, January 16th. They set a "buy" rating and a $26.00 price target for the company. TheStreet cut O-I Glass from a "b-" rating to a "c-" rating in a report on Tuesday, February 6th. Finally, Truist Financial reiterated a "buy" rating and issued a $17.00 target price (down previously from $20.00) on shares of O-I Glass in a report on Thursday. One research 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $19.56.

O-I Glass Price Performance

Shares of NYSE OI traded up $0.19 during midday trading on Monday, hitting $13.36. 1,316,483 shares of the company's stock were exchanged, compared to its average volume of 1,754,291. The company has a market cap of $2.08 billion, a price-to-earnings ratio of -8.48, a PEG ratio of 1.34 and a beta of 1.36. The business's fifty day moving average price is $15.71 and its two-hundred day moving average price is $15.55. The company has a current ratio of 1.02, a quick ratio of 0.56 and a debt-to-equity ratio of 2.26. O-I Glass has a 12-month low of $12.40 and a 12-month high of $23.57.

O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.09. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.69 billion. O-I Glass had a positive return on equity of 18.25% and a negative net margin of 3.45%. The firm's quarterly revenue was down 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.29 earnings per share. As a group, research analysts forecast that O-I Glass will post 1.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. boosted its stake in shares of O-I Glass by 4.4% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 155,152 shares of the industrial products company's stock worth $2,596,000 after buying an additional 6,580 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of O-I Glass by 15.5% during the third quarter. Mackenzie Financial Corp now owns 18,929 shares of the industrial products company's stock worth $304,000 after buying an additional 2,540 shares during the period. TD Asset Management Inc raised its stake in shares of O-I Glass by 75.0% in the third quarter. TD Asset Management Inc now owns 22,400 shares of the industrial products company's stock valued at $375,000 after acquiring an additional 9,600 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in O-I Glass by 29.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 10,289 shares of the industrial products company's stock valued at $172,000 after buying an additional 2,365 shares in the last quarter. Finally, Levin Capital Strategies L.P. raised its stake in O-I Glass by 4.0% in the third quarter. Levin Capital Strategies L.P. now owns 1,091,526 shares of the industrial products company's stock valued at $18,261,000 after buying an additional 42,075 shares in the last quarter. 97.24% of the stock is owned by institutional investors.

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.