O-I Glass (NYSE:OI) Sets New 1-Year Low – Here’s Why

Shares of O-I Glass, Inc. (NYSE:OI) reached a new 52-week low on Thursday . The stock traded as low as $6.71 and last traded at $6.73, with a volume of 3040802 shares trading hands. The stock had previously closed at $7.15.

Analyst Upgrades and Downgrades

OI has been the subject of a number of research reports. Truist Financial lowered their price objective on shares of O-I Glass from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Weiss Ratings downgraded shares of O-I Glass from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 30th. Royal Bank Of Canada lowered shares of O-I Glass from an “outperform” rating to a “sector perform” rating and set a $8.00 price target for the company. in a report on Thursday. Robert W. Baird set a $13.00 price target on shares of O-I Glass in a research report on Thursday, July 30th. Finally, BNP Paribas Exane downgraded shares of O-I Glass from an “outperform” rating to a “neutral” rating and set a $8.50 price objective on the stock. in a research note on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $10.19.

O-I Glass Trading Down 5.9%

The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 8.89. The stock has a market capitalization of $1.03 billion, a P/E ratio of -0.89, a price-to-earnings-growth ratio of 1.40 and a beta of 0.66. The company has a 50-day moving average price of $8.74 and a 200 day moving average price of $10.55.

O-I Glass (NYSE:OI) last issued its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.15). O-I Glass had a negative net margin of 18.13% and a positive return on equity of 10.40%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the business earned $0.53 EPS. O-I Glass’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, research analysts forecast that O-I Glass, Inc. will post 0.7 earnings per share for the current fiscal year.

Institutional Trading of O-I Glass

A number of institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC grew its position in shares of O-I Glass by 87.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock worth $26,000 after buying an additional 830 shares during the last quarter. Optiver Holding B.V. lifted its position in O-I Glass by 491.5% during the first quarter. Optiver Holding B.V. now owns 2,496 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 2,074 shares during the last quarter. Headlands Technologies LLC acquired a new stake in O-I Glass in the second quarter valued at approximately $29,000. Quarry LP acquired a new stake in O-I Glass in the fourth quarter valued at approximately $32,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in O-I Glass by 36,533.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 2,192 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors.

O-I Glass Company Profile

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.