Libbey (LBY) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Libbey (NYSEAMERICAN:LBY) from a strong sell rating to a hold rating in a research note issued to investors on Wednesday.

According to Zacks, “Libbey is the leading producer of glass tableware in the U.S. and Canada. Libbey is also a major supplier of other tabletop products to the foodservice industry in the U.S. Libbey’s products are sold to a broad range of foodservice, retail, industrial and premium customers and are exported to more than 100 countries. The Company designs, manufactures and markets, under the LIBBEY(R) brand name, an extensive line of high-quality, machine-made glass beverageware and other glass tableware, including plates, bowls, serveware and accessories. “

Shares of LBY stock opened at $4.64 on Wednesday. Libbey has a twelve month low of $3.45 and a twelve month high of $11.54.

Libbey (NYSEAMERICAN:LBY) last announced its earnings results on Tuesday, November 6th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.37). The company had revenue of $191.56 million for the quarter.

In related news, major shareholder Brigade Capital Management, Lp acquired 130,000 shares of the company’s stock in a transaction dated Thursday, December 13th. The stock was bought at an average price of $5.66 per share, with a total value of $735,800.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Hedge funds and other institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new position in shares of Libbey during the 3rd quarter valued at about $165,000. Bank of America Corp DE increased its stake in shares of Libbey by 99.0% during the 2nd quarter. Bank of America Corp DE now owns 19,208 shares of the company’s stock valued at $156,000 after acquiring an additional 9,555 shares during the last quarter. Ibex Investors LLC acquired a new position in shares of Libbey during the 3rd quarter valued at about $188,000. Laurion Capital Management LP acquired a new position in shares of Libbey during the 2nd quarter valued at about $251,000. Finally, Macquarie Group Ltd. increased its stake in shares of Libbey by 70.8% during the 2nd quarter. Macquarie Group Ltd. now owns 34,737 shares of the company’s stock valued at $282,000 after acquiring an additional 14,400 shares during the last quarter.

Libbey Company Profile

Libbey Inc designs, produces, and sells tableware and other products worldwide. It offers glass tableware products, including tumblers, stemware, mugs, bowls, vases, salt and pepper shakers, shot glasses, canisters, candleholders, and other items; storage ware; serve ware; bakeware; handmade glass tableware; and other components for original equipment manufacturers, such as blender jars and mixing bowls.

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