Citigroup Cuts O-I Glass (NYSE:OI) Price Target to $11.00

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

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

O-I Glass Price Performance

Shares of NYSE OI opened at $10.47 on Monday. O-I Glass has a fifty-two week low of $9.85 and a fifty-two week high of $17.58. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.77 and a current ratio of 1.23. The company has a market cap of $1.62 billion, a PE ratio of -3.79 and a beta of 1.21. The business has a 50-day simple moving average of $11.71 and a two-hundred day simple moving average of $11.97.

O-I Glass (NYSE:OI) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). The firm 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 business’s revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 EPS. As a group, equities analysts expect that O-I Glass will post 0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Segall Bryant & Hamill LLC purchased a new stake in shares of O-I Glass in the 3rd quarter valued at approximately $32,350,000. Highland Peak Capital LLC acquired a new stake in O-I Glass in the 3rd quarter valued at approximately $27,132,000. Levin Capital Strategies L.P. raised its position in 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 purchasing an additional 703,308 shares during the period. Dimensional Fund Advisors LP lifted its stake in 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 purchasing an additional 573,300 shares in the last quarter. Finally, Private Management Group Inc. boosted its position 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 buying an additional 520,452 shares during the period. 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.