Libbey (NYSEAMERICAN:LBY) Downgraded by Zacks Investment Research

Libbey (NYSEAMERICAN:LBY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday, January 11th.

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. “

Separately, TheStreet lowered shares of Libbey from a “c-” rating to a “d” rating in a research note on Tuesday, October 31st.

Libbey (NYSEAMERICAN LBY) traded down $0.07 during trading hours on Thursday, reaching $6.59. 13,300 shares of the company were exchanged, compared to its average volume of 154,179. Libbey has a 12 month low of $5.81 and a 12 month high of $18.33. The stock has a market capitalization of $146.63, a PE ratio of -1.66 and a beta of 1.06.

Large investors have recently bought and sold shares of the company. Aperio Group LLC acquired a new stake in Libbey during the fourth quarter worth about $104,000. Alambic Investment Management L.P. acquired a new stake in Libbey during the fourth quarter worth about $159,000. California Public Employees Retirement System increased its position in Libbey by 24.7% during the third quarter. California Public Employees Retirement System now owns 124,726 shares of the company’s stock worth $1,155,000 after purchasing an additional 24,726 shares during the last quarter. Spitfire Capital LLC increased its position in Libbey by 6.0% during the third quarter. Spitfire Capital LLC now owns 961,437 shares of the company’s stock worth $8,903,000 after purchasing an additional 54,281 shares during the last quarter. Finally, GSA Capital Partners LLP increased its position in Libbey by 153.4% during the third quarter. GSA Capital Partners LLP now owns 119,100 shares of the company’s stock worth $1,103,000 after purchasing an additional 72,096 shares during the last quarter.

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Libbey Company Profile

Libbey Inc is engaged in the design, production and sale of tableware and other products. The Company’s segments are U.S. & Canada; Latin America; Europe, the Middle East and Africa (EMEA) and Other. The U.S. & Canada segment includes sales of manufactured and sourced tableware having an end market destination in the United States and Canada, excluding glass products for original equipment manufacturers (OEMs), which remain in the Latin America segment.

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