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

O-I Glass (NYSE:OI) had its price objective cut by Citigroup from $12.00 to $11.00 in a report released on Monday,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

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

O-I Glass Stock Performance

Shares of OI stock opened at $10.96 on Monday. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of -3.97 and a beta of 1.21. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18. The business’s 50-day moving average price is $11.74 and its 200-day moving average price is $11.97. O-I Glass has a 12 month low of $9.85 and a 12 month high of $17.58.

O-I Glass (NYSE:OI) last posted its 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 for the quarter, compared to analyst estimates of $1.76 billion. O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 earnings per share. Equities research analysts forecast that O-I Glass will post 0.76 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. bought a new position in shares of O-I Glass in the third quarter valued at $27,000. Newbridge Financial Services Group Inc. lifted its position in O-I Glass by 1,337.5% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 2,675 shares in the last quarter. GAMMA Investing LLC lifted its position in O-I Glass by 371.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 1,892 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in O-I Glass by 28.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 1,136 shares in the last quarter. Finally, KBC Group NV increased its holdings in O-I Glass by 38.9% during the 3rd quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 1,521 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

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.