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

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

Other equities research analysts have also issued reports about the company. Royal Bank of Canada decreased their target price on 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. Bank of America lifted their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday. Barclays dropped their target price 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. Wells Fargo & Company decreased their price target on shares of O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday. Finally, StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, O-I Glass currently has an average rating of “Moderate Buy” and an average price target of $15.38.

O-I Glass Stock Up 3.7 %

O-I Glass stock opened at $10.96 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 firm’s 50-day simple moving average is $11.74 and its 200 day simple moving average is $11.97. The stock has a market cap of $1.69 billion, a PE ratio of -3.97 and a beta of 1.21.

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 firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. O-I Glass’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.80 EPS. Research analysts predict that O-I Glass will post 0.76 EPS for the current fiscal year.

Hedge Funds Weigh In On O-I Glass

Hedge funds have recently bought and sold shares of the company. Everence Capital Management Inc. grew its position in O-I Glass by 6.1% during the third quarter. Everence Capital Management Inc. now owns 15,550 shares of the industrial products company’s stock worth $204,000 after buying an additional 890 shares in the last quarter. Diversified Trust Co grew its holdings in shares of O-I Glass by 2.0% during the third quarter. Diversified Trust Co now owns 49,596 shares of the industrial products company’s stock worth $651,000 after purchasing an additional 965 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of O-I Glass by 28.4% in the third 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 during the last quarter. Mackenzie Financial Corp raised its stake in O-I Glass by 6.1% in the second quarter. Mackenzie Financial Corp now owns 20,091 shares of the industrial products company’s stock valued at $224,000 after purchasing an additional 1,162 shares in the last quarter. Finally, KBC Group NV lifted its position in O-I Glass by 38.9% during the third quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 1,521 shares during the last quarter. 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.