Citigroup Cuts O-I Glass (NYSE:OI) Price Target to $12.00

O-I Glass (NYSE:OIFree Report) had its target price lowered by Citigroup from $14.00 to $12.00 in a research note published on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

A number of other brokerages have also recently issued reports on OI. Robert W. Baird decreased their price objective on shares of O-I Glass from $28.00 to $22.00 and set an outperform rating for the company in a report on Thursday, May 2nd. Barclays reduced their price target on shares of O-I Glass from $18.00 to $15.00 and set an equal weight rating for the company in a report on Monday, May 6th. Truist Financial reiterated a buy rating and issued a $17.00 price target (down previously from $20.00) on shares of O-I Glass in a report on Thursday, May 2nd. Royal Bank of Canada reduced their price target on shares of O-I Glass from $25.00 to $21.00 and set an outperform rating for the company in a report on Thursday, May 2nd. Finally, Bank of America reiterated a neutral rating and issued a $16.00 price target (down previously from $21.00) on shares of O-I Glass in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, O-I Glass currently has a consensus rating of Hold and an average target price of $18.89.

Read Our Latest Stock Report on OI

O-I Glass Stock Up 2.9 %

Shares of NYSE:OI opened at $10.50 on Monday. O-I Glass has a 12 month low of $10.08 and a 12 month high of $23.57. The company’s 50-day moving average price is $12.09 and its two-hundred day moving average price is $14.49. 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 firm has a market cap of $1.64 billion, a P/E ratio of -6.60, a P/E/G ratio of 1.02 and a beta of 1.24.

O-I Glass (NYSE:OIGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.69 billion. O-I Glass had a negative net margin of 3.45% and a positive return on equity of 18.25%. The business’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.29 earnings per share. As a group, research analysts forecast that O-I Glass will post 1.67 EPS for the current fiscal year.

Institutional Trading of O-I Glass

Institutional investors have recently made changes to their positions in the business. Fidelis Capital Partners LLC bought a new stake in O-I Glass during the first quarter worth $33,000. TFO Wealth Partners LLC raised its position in O-I Glass by 24,311.1% during the fourth quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 2,188 shares in the last quarter. FinTrust Capital Advisors LLC bought a new stake in O-I Glass during the first quarter worth $38,000. Headlands Technologies LLC bought a new stake in O-I Glass during the first quarter worth $39,000. Finally, International Assets Investment Management LLC increased its holdings in shares of O-I Glass by 1,538.0% in the fourth quarter. International Assets Investment Management LLC now owns 4,095 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 3,845 shares during the last quarter. Institutional investors own 97.24% of the company’s stock.

O-I Glass Company Profile

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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.

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