O-I Glass (NYSE:OI) Hits New 1-Year Low at $12.01

Shares of O-I Glass, Inc. (NYSE:OIGet Free Report) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $12.01 and last traded at $12.02, with a volume of 270295 shares. The stock had previously closed at $12.34.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on OI shares. Wells Fargo & Company decreased their price target on shares of O-I Glass from $22.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Robert W. Baird decreased their price target on shares of O-I Glass from $28.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday, May 2nd. Bank of America restated a “neutral” rating and set a $16.00 price target (down previously from $21.00) on shares of O-I Glass in a research note on Friday, April 19th. TheStreet lowered shares of O-I Glass from a “b-” rating to a “c-” rating in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada reduced their price objective on shares of O-I Glass from $25.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, O-I Glass has an average rating of “Hold” and an average price target of $19.56.

Get Our Latest Stock Analysis on O-I Glass

O-I Glass Price Performance

The business’s 50 day moving average is $14.41 and its two-hundred day moving average is $15.28. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.56 and a current ratio of 1.02. The firm has a market capitalization of $1.90 billion, a PE ratio of -7.76, a price-to-earnings-growth ratio of 1.24 and a beta of 1.27.

O-I Glass (NYSE:OIGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.36 by $0.09. O-I Glass had a negative net margin of 3.45% and a positive return on equity of 18.25%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period last year, the firm earned $1.29 EPS. The business’s quarterly revenue was down 13.0% compared to the same quarter last year. Equities research analysts anticipate that O-I Glass, Inc. will post 1.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Covestor Ltd boosted its holdings in O-I Glass by 259.7% in the 3rd quarter. Covestor Ltd now owns 1,669 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 1,205 shares during the period. Bessemer Group Inc. boosted its holdings in O-I Glass by 40.2% in the 1st quarter. Bessemer Group Inc. now owns 4,597 shares of the industrial products company’s stock valued at $76,000 after purchasing an additional 1,318 shares during the period. Quadrant Capital Group LLC boosted its holdings in O-I Glass by 37.3% in the 4th quarter. Quadrant Capital Group LLC now owns 5,168 shares of the industrial products company’s stock valued at $85,000 after purchasing an additional 1,404 shares during the period. Comerica Bank lifted its holdings in shares of O-I Glass by 1.8% during the 4th quarter. Comerica Bank now owns 81,833 shares of the industrial products company’s stock worth $1,340,000 after acquiring an additional 1,411 shares during the last quarter. Finally, Texas Permanent School Fund Corp lifted its holdings in shares of O-I Glass by 1.1% during the 1st quarter. Texas Permanent School Fund Corp now owns 135,154 shares of the industrial products company’s stock worth $2,242,000 after acquiring an additional 1,465 shares during the last quarter. 97.24% of the stock is owned by institutional investors.

O-I Glass Company Profile

(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.

Further Reading

Receive News & Ratings for O-I Glass Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for O-I Glass and related companies with MarketBeat.com's FREE daily email newsletter.