O-I Glass, Inc. (NYSE:OI - Get Free Report) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $12.57 and last traded at $13.22, with a volume of 1158952 shares trading hands. The stock had previously closed at $14.96.
Analysts Set New Price Targets
A number of brokerages have recently commented on OI. Bank of America reissued a "neutral" rating and set a $16.00 price target (down from $21.00) on shares of O-I Glass in a report on Friday, April 19th. Citigroup lowered O-I Glass from a "buy" rating to a "neutral" rating and raised their price target for the company from $17.00 to $18.00 in a report on Wednesday, January 3rd. TheStreet downgraded shares of O-I Glass from a "b-" rating to a "c-" rating in a report on Tuesday, February 6th. StockNews.com cut shares of O-I Glass from a "buy" rating to a "hold" rating in a research note on Thursday, February 15th. Finally, Barclays boosted their target price on shares of O-I Glass from $16.00 to $18.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 13th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $21.75.
Check Out Our Latest Stock Report on O-I Glass
O-I Glass Price Performance
The stock has a 50 day moving average of $15.96 and a two-hundred day moving average of $15.60. The stock has a market cap of $1.96 billion, a PE ratio of -18.01, a PEG ratio of 1.09 and a beta of 1.35. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.77 and a current ratio of 1.23.
O-I Glass (NYSE:OI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.09. The firm had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.69 billion. O-I Glass had a positive return on equity of 24.90% and a negative net margin of 1.45%. O-I Glass's revenue was down 13.0% on a year-over-year basis. During the same quarter last year, the business posted $1.29 EPS. Equities analysts anticipate that O-I Glass, Inc. will post 2.33 EPS for the current year.
Institutional Investors Weigh In On O-I Glass
A number of institutional investors have recently bought and sold shares of OI. Norges Bank acquired a new stake in O-I Glass during the 4th quarter worth about $27,562,000. Assenagon Asset Management S.A. lifted its holdings in shares of O-I Glass by 132.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,002,867 shares of the industrial products company's stock valued at $32,807,000 after buying an additional 1,141,680 shares during the last quarter. Luminus Management LLC lifted its holdings in shares of O-I Glass by 69.4% during the 3rd quarter. Luminus Management LLC now owns 2,140,678 shares of the industrial products company's stock valued at $35,814,000 after buying an additional 877,172 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of O-I Glass by 12.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,615,054 shares of the industrial products company's stock valued at $108,358,000 after buying an additional 728,493 shares during the last quarter. Finally, Cooper Creek Partners Management LLC lifted its holdings in shares of O-I Glass by 39.6% during the 3rd quarter. Cooper Creek Partners Management LLC now owns 2,200,187 shares of the industrial products company's stock valued at $36,809,000 after buying an additional 623,705 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.
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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