LBY- Libbey, Inc last closed at $16.35 – (Undervalued)
Libbey is a leading producer of glass tableware and other table top products in the U.S and in Canada. With the news of the Chairman and CEO Stephanie Streeter’s abrupt resignation, and a new CEO – Mr. William Foley being elected by the board members of Libbey, the stock prices plunged down to a new low and closed at $16.35 yesterday. While many analysts have said that Libbey is undervalued at its current price, they have a consensus rating of “Hold” with an average price target of $60.50 Also, a hedge fund, ICON Advisers acquired a new stake in Libbey according to its recent SEC filings. Last quarter, the company reported an EPS of $0.81, beating the Thomson Reuters’ consensus estimate of $0.57.