O-I Glass (NYSE:OI) PT Lowered to $21.00

O-I Glass (NYSE:OI) had its target price cut by equities researchers at Royal Bank of Canada from $25.00 to $21.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 59.45% from the company’s previous close.

Other research analysts also recently issued reports about the company. Bank of America reiterated 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. UBS Group started coverage on O-I Glass in a report on Tuesday, January 16th. They issued a “buy” rating and a $26.00 price target for the company. TheStreet lowered shares of O-I Glass from a “b-” rating to a “c-” rating in a report on Tuesday, February 6th. StockNews.com lowered shares of O-I Glass from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Finally, Robert W. Baird decreased their price target on shares of O-I Glass from $28.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, O-I Glass currently has an average rating of “Hold” and an average target price of $19.89.

O-I Glass Stock Performance

Shares of OI stock traded up $0.08 during trading hours on Thursday, reaching $13.17. 1,483,504 shares of the company’s stock were exchanged, compared to its average volume of 1,925,177. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.02 and a quick ratio of 0.77. The company’s 50 day moving average is $15.71 and its two-hundred day moving average is $15.54. The company has a market cap of $2.05 billion, a P/E ratio of -8.28, a price-to-earnings-growth ratio of 1.22 and a beta of 1.36. O-I Glass has a 1 year low of $12.40 and a 1 year high of $23.57.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.36 by $0.09. O-I Glass had a negative net margin of 3.45% and a positive return on equity of 18.25%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter last year, the business earned $1.29 earnings per share. The business’s revenue for the quarter was down 13.0% compared to the same quarter last year. Equities research analysts anticipate that O-I Glass will post 1.75 EPS for the current fiscal year.

Hedge Funds Weigh In On O-I Glass

Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of O-I Glass by 12.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,615,054 shares of the industrial products company’s stock worth $108,358,000 after purchasing an additional 728,493 shares during the last quarter. Assenagon Asset Management S.A. increased its position in O-I Glass by 32.0% in the first quarter. Assenagon Asset Management S.A. now owns 2,644,360 shares of the industrial products company’s stock worth $43,870,000 after buying an additional 641,493 shares during the period. Cooper Creek Partners Management LLC lifted its stake in O-I Glass by 39.6% in the third quarter. Cooper Creek Partners Management LLC now owns 2,200,187 shares of the industrial products company’s stock valued at $36,809,000 after buying an additional 623,705 shares during the last quarter. Luminus Management LLC boosted its holdings in shares of O-I Glass by 69.4% during the third quarter. Luminus Management LLC now owns 2,140,678 shares of the industrial products company’s stock valued at $35,814,000 after acquiring an additional 877,172 shares during the period. Finally, Private Management Group Inc. grew its position in shares of O-I Glass by 0.7% during the fourth quarter. Private Management Group Inc. now owns 2,051,886 shares of the industrial products company’s stock worth $33,610,000 after acquiring an additional 14,018 shares during the last quarter. 97.24% of the stock is currently 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.