O-I Glass (NYSE:OI) Sets New 12-Month Low – Should You Sell?

by · The Markets Daily

O-I Glass, Inc. (NYSE:OI – Get Free Report) shares hit a new 52-week low on Thursday . The stock traded as low as $10.03 and last traded at $10.04, with a volume of 774374 shares traded. The stock had previously closed at $10.38.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Bank of America upgraded O-I Glass from a “neutral” rating to a “buy” rating and lifted their target price for the company from $14.00 to $16.00 in a research note on Thursday, October 17th. Citigroup raised their price objective on O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Barclays cut their price objective on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, Royal Bank of Canada lowered their price objective on O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.25.

Read Our Latest Analysis on O-I Glass

O-I Glass Price Performance

The company has a market cap of $1.55 billion, a price-to-earnings ratio of -3.64 and a beta of 1.20. The company has a fifty day simple moving average of $12.21 and a two-hundred day simple moving average of $12.07. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18.

O-I Glass (NYSE:OI – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The firm’s revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.80 EPS. On average, equities research analysts anticipate that O-I Glass, Inc. will post 0.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On O-I Glass

Institutional investors have recently bought and sold shares of the business. Segall Bryant & Hamill LLC bought a new stake in O-I Glass in the third quarter valued at about $32,350,000. Highland Peak Capital LLC bought a new position in O-I Glass during the third quarter worth $27,132,000. Levin Capital Strategies L.P. increased its stake in O-I Glass by 25.0% during the second quarter. Levin Capital Strategies L.P. now owns 3,511,413 shares of the industrial products company’s stock valued at $39,082,000 after purchasing an additional 703,308 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of O-I Glass by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,093,723 shares of the industrial products company’s stock worth $78,952,000 after buying an additional 573,300 shares during the last quarter. Finally, Private Management Group Inc. boosted its holdings in shares of O-I Glass by 20.8% in the 3rd quarter. Private Management Group Inc. now owns 3,025,731 shares of the industrial products company’s stock valued at $39,698,000 after buying an additional 520,452 shares during the period. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

About O-I Glass

(Get Free Report)

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.

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