Barclays Lowers O-I Glass (NYSE:OI) Price Target to $13.00

O-I Glass (NYSE:OI) had its price target cut by research analysts at Barclays from $14.00 to $13.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price target indicates a potential upside of 15.66% from the stock’s current price.

A number of other research analysts have also issued reports on OI. UBS Group dropped their price target on shares of O-I Glass from $26.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Wells Fargo & Company dropped their price target on shares of O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Royal Bank of Canada lowered their target price on shares of O-I Glass from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Citigroup upped their target price on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Truist Financial restated a “buy” rating and set a $16.00 target price (down from $17.00) on shares of O-I Glass in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, O-I Glass presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.25.

O-I Glass Price Performance

Shares of NYSE:OI opened at $11.24 on Thursday. The company has a 50-day simple moving average of $12.70 and a 200-day simple moving average of $12.46. O-I Glass has a one year low of $10.08 and a one year high of $17.58. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.75 and a current ratio of 1.23. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -4.07 and a beta of 1.17.

O-I Glass (NYSE:OI) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the firm earned $0.80 earnings per share. The company’s revenue was down 3.7% compared to the same quarter last year. On average, analysts predict that O-I Glass will post 0.75 EPS for the current year.

Insider Buying and Selling at O-I Glass

In other O-I Glass news, Director John Humphrey purchased 15,000 shares of O-I Glass stock in a transaction on Tuesday, August 6th. The shares were bought at an average price of $11.30 per share, with a total value of $169,500.00. Following the completion of the acquisition, the director now directly owns 84,227 shares of the company’s stock, valued at approximately $951,765.10. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.49% of the company’s stock.

Hedge Funds Weigh In On O-I Glass

Several institutional investors and hedge funds have recently modified their holdings of OI. Harbor Capital Advisors Inc. purchased a new position in O-I Glass during the third quarter worth approximately $27,000. Newbridge Financial Services Group Inc. raised its stake in O-I Glass by 1,337.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 2,675 shares during the period. GAMMA Investing LLC raised its stake in O-I Glass by 371.0% during the third quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 1,892 shares during the period. Fidelis Capital Partners LLC purchased a new position in O-I Glass during the first quarter worth approximately $33,000. Finally, FinTrust Capital Advisors LLC purchased a new position in O-I Glass during the first quarter worth approximately $38,000. Hedge funds and other 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.