Royal Bank of Canada Cuts O-I Glass (NYSE:OI) Price Target to $18.00

O-I Glass (NYSE:OI) had its price target lowered by Royal Bank of Canada from $20.00 to $18.00 in a research report report published on Monday, Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

A number of other research firms have also weighed in on OI. Bank of America reiterated a neutral rating and issued a $16.00 price objective (down previously from $21.00) on shares of O-I Glass in a research note on Friday, April 19th. Citigroup reduced their price target on 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. Wells Fargo & Company cut their target price on shares of O-I Glass from $19.00 to $18.00 and set an overweight rating for the company in a report on Wednesday, July 17th. Barclays lowered their price target on shares of O-I Glass from $15.00 to $14.00 and set an equal weight rating on the stock in a report on Thursday, August 1st. Finally, Robert W. Baird decreased their price objective on shares of O-I Glass from $22.00 to $18.00 and set an outperform rating for the company in a research report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $16.89.

O-I Glass Stock Down 0.1 %

OI stock traded down $0.01 during trading on Monday, hitting $11.28. 1,650,731 shares of the company’s stock traded hands, compared to its average volume of 1,798,983. The company has a quick ratio of 0.56, a current ratio of 1.26 and a debt-to-equity ratio of 2.85. The firm has a market capitalization of $1.75 billion, a P/E ratio of -7.13, a PEG ratio of 1.27 and a beta of 1.24. O-I Glass has a 1 year low of $10.08 and a 1 year high of $20.31. The business has a fifty day simple moving average of $11.55 and a two-hundred day simple moving average of $13.97.

O-I Glass (NYSE:OI) last released its earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. O-I Glass had a negative net margin of 4.32% and a positive return on equity of 15.64%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the firm earned $0.88 EPS. O-I Glass’s revenue was down 8.5% compared to the same quarter last year. Sell-side analysts anticipate that O-I Glass will post 1.6 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC acquired a new stake in O-I Glass during the first quarter worth about $33,000. TFO Wealth Partners LLC boosted its position in shares of 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 buying an additional 2,188 shares during the period. FinTrust Capital Advisors LLC purchased a new position in O-I Glass during the 1st quarter valued at about $38,000. Headlands Technologies LLC purchased a new stake in O-I Glass during the first quarter worth about $39,000. Finally, International Assets Investment Management LLC lifted its holdings in O-I Glass by 1,538.0% during the 4th quarter. International Assets Investment Management LLC now owns 4,095 shares of the industrial products company’s stock worth $67,000 after buying an additional 3,845 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

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.