O-I Glass (NYSE:OI) Price Target Lowered to $16.00 at Wells Fargo & Company

O-I Glass (NYSE:OI) had its target price reduced by Wells Fargo & Company from $18.00 to $16.00 in a report released on Monday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

A number of other equities analysts also recently commented on OI. Royal Bank of Canada lowered their target price on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Bank of America raised O-I Glass from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $16.00 in a research report on Thursday, October 17th. Barclays cut their target price on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Citigroup raised their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $15.38.

O-I Glass Stock Performance

NYSE:OI opened at $10.96 on Monday. The company has a market cap of $1.69 billion, a price-to-earnings ratio of -3.97 and a beta of 1.21. 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 has a 52 week low of $9.85 and a 52 week high of $17.58. The company has a fifty day simple moving average of $11.74 and a two-hundred day simple moving average of $11.97.

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

Institutional Investors Weigh In On O-I Glass

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Segall Bryant & Hamill LLC acquired a new stake in shares of O-I Glass during the third quarter worth $32,350,000. Highland Peak Capital LLC acquired a new stake in shares of O-I Glass in the 3rd quarter worth $27,132,000. Levin Capital Strategies L.P. boosted its holdings in shares of O-I Glass by 25.0% in the second quarter. Levin Capital Strategies L.P. now owns 3,511,413 shares of the industrial products company’s stock valued at $39,082,000 after acquiring an additional 703,308 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of O-I Glass by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,093,723 shares of the industrial products company’s stock worth $78,952,000 after acquiring an additional 573,300 shares during the period. Finally, Private Management Group Inc. increased its stake in shares of O-I Glass by 20.8% during the third quarter. Private Management Group Inc. now owns 3,025,731 shares of the industrial products company’s stock worth $39,698,000 after acquiring an additional 520,452 shares during the period. 97.24% of the stock is owned by hedge funds and other 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.