O-I Glass (NYSE:OI) PT Lowered to $18.00

O-I Glass (NYSE:OI) had its price target decreased by UBS Group from $26.00 to $18.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. UBS Group’s price target would suggest a potential upside of 53.45% from the company’s current price.

OI has been the topic of a number of other research reports. Barclays cut their price target on shares of O-I Glass from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Monday, May 6th. Wells Fargo & Company dropped their price target on O-I Glass from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday. Citigroup dropped their target price on shares of O-I Glass from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday, July 8th. StockNews.com cut shares of O-I Glass from a “hold” rating to a “sell” rating in a research report on Tuesday, July 9th. Finally, Robert W. Baird reduced 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 research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, O-I Glass has an average rating of “Hold” and an average price target of $17.89.

O-I Glass Stock Performance

Shares of NYSE OI traded up $0.03 during mid-day trading on Wednesday, hitting $11.73. 340,756 shares of the company were exchanged, compared to its average volume of 1,751,418. The company has a quick ratio of 0.56, a current ratio of 1.02 and a debt-to-equity ratio of 2.26. The stock has a 50 day simple moving average of $11.94 and a 200-day simple moving average of $14.32. O-I Glass has a 1-year low of $10.08 and a 1-year high of $23.57. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -7.38, a price-to-earnings-growth ratio of 1.08 and a beta of 1.24.

O-I Glass (NYSE:OI) last released its earnings results on Tuesday, April 30th. The industrial products company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. O-I Glass had a positive return on equity of 18.25% and a negative net margin of 3.45%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter last year, the company earned $1.29 earnings per share. O-I Glass’s quarterly revenue was down 13.0% compared to the same quarter last year. On average, sell-side analysts forecast that O-I Glass will post 1.71 EPS for the current fiscal year.

Hedge Funds Weigh In On O-I Glass

Several institutional investors and hedge funds have recently modified their holdings of OI. American Century Companies Inc. increased its stake in shares of O-I Glass by 7.8% in the third quarter. American Century Companies Inc. now owns 1,672,400 shares of the industrial products company’s stock worth $27,979,000 after purchasing an additional 121,495 shares during the period. Diversified Trust Co boosted its holdings in O-I Glass by 4.9% in the 4th quarter. Diversified Trust Co now owns 39,752 shares of the industrial products company’s stock valued at $651,000 after purchasing an additional 1,846 shares during the period. SG Americas Securities LLC raised its position in shares of O-I Glass by 10.4% during the fourth quarter. SG Americas Securities LLC now owns 94,055 shares of the industrial products company’s stock valued at $1,541,000 after buying an additional 8,870 shares during the last quarter. Thompson Investment Management Inc. lifted its stake in shares of O-I Glass by 38.1% in the fourth quarter. Thompson Investment Management Inc. now owns 213,790 shares of the industrial products company’s stock valued at $3,502,000 after buying an additional 58,983 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in O-I Glass by 132.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,002,867 shares of the industrial products company’s stock worth $32,807,000 after buying an additional 1,141,680 shares in the last quarter. 97.24% of the stock is currently 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.