Citigroup Boosts O-I Glass (NYSE:OI) Price Target to $15.00

O-I Glass (NYSE:OI) had its target price hoisted by Citigroup from $14.00 to $15.00 in a research note issued to investors on Wednesday, Benzinga reports. Citigroup currently has a neutral rating on the industrial products company’s stock.

Other research analysts have also recently issued reports about the stock. StockNews.com raised shares of O-I Glass from a sell rating to a hold rating in a research report on Thursday, August 1st. Wells Fargo & Company decreased their price target on shares of O-I Glass from $19.00 to $18.00 and set an overweight rating for the company in a research report on Wednesday, July 17th. UBS Group cut their price objective on O-I Glass from $26.00 to $18.00 and set a buy rating on the stock in a research report on Wednesday, July 17th. Truist Financial reaffirmed a buy rating and issued a $16.00 target price (down previously from $17.00) on shares of O-I Glass in a research report on Thursday, August 1st. Finally, Barclays dropped their target price on 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. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, O-I Glass currently has a consensus rating of Moderate Buy and an average price target of $16.63.

O-I Glass Stock Up 3.0 %

OI stock opened at $13.20 on Wednesday. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.26 and a quick ratio of 0.75. The company’s 50 day simple moving average is $12.41 and its 200-day simple moving average is $12.91. O-I Glass has a 12 month low of $10.08 and a 12 month high of $17.58. The firm has a market capitalization of $2.05 billion, a PE ratio of -8.30, a P/E/G ratio of 1.92 and a beta of 1.17.

O-I Glass (NYSE:OI) last released its quarterly 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. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. O-I Glass’s revenue was down 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 earnings per share. Equities analysts expect that O-I Glass will post 1.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other O-I Glass news, Director John Humphrey acquired 15,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was purchased at an average price of $11.30 per share, for a total transaction of $169,500.00. Following the purchase, the director now directly owns 84,227 shares in the company, valued at $951,765.10. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.49% of the company’s stock.

Institutional Trading of O-I Glass

Several hedge funds have recently added to or reduced their stakes in OI. Newbridge Financial Services Group Inc. boosted its holdings in shares of O-I Glass by 1,337.5% in the second quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 2,675 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of O-I Glass in the 1st quarter worth approximately $33,000. TFO Wealth Partners LLC lifted its position in shares of O-I Glass by 24,311.1% during the 4th quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 2,188 shares during the last quarter. FinTrust Capital Advisors LLC acquired a new position in shares of O-I Glass in the 1st quarter valued at $38,000. Finally, Headlands Technologies LLC purchased a new stake in O-I Glass during the first quarter valued at about $39,000. 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.