O-I Glass, Inc. (NYSE:OI - Get Free Report) reached a new 52-week low on Wednesday . The company traded as low as $6.35 and last traded at $6.3650, with a volume of 2481628 shares changing hands. The stock had previously closed at $6.62.
Analyst Upgrades and Downgrades
A number of brokerages have commented on OI. Zacks Research raised O-I Glass from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Weiss Ratings upgraded O-I Glass from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday. Citigroup dropped their price objective on O-I Glass from $10.00 to $8.00 and set a "neutral" rating for the company in a research note on Friday, July 31st. BNP Paribas Exane cut shares of O-I Glass from an "outperform" rating to a "neutral" rating and set a $8.50 target price on the stock. in a report on Thursday, July 30th. Finally, Truist Financial decreased their target price on shares of O-I Glass from $13.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $10.19.
View Our Latest Analysis on OI
O-I Glass Trading Down 3.9%
The stock has a market capitalization of $978.05 million, a P/E ratio of -0.85, a price-to-earnings-growth ratio of 2.20 and a beta of 0.66. The stock has a 50-day moving average price of $8.63 and a two-hundred day moving average price of $10.30. The company has a debt-to-equity ratio of 8.89, a quick ratio of 0.77 and a current ratio of 1.26.
O-I Glass (NYSE:OI - Get Free Report) last posted its earnings results on Tuesday, July 28th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $1.67 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same period last year, the firm posted $0.53 earnings per share. O-I Glass's quarterly revenue was down 2.2% on a year-over-year basis. On average, research analysts forecast that O-I Glass, Inc. will post 0.42 EPS for the current fiscal year.
Institutional Trading of O-I Glass
A number of hedge funds have recently modified their holdings of the business. Empowered Funds LLC bought a new position in shares of O-I Glass in the 2nd quarter worth about $5,554,000. Corient Private Wealth LP bought a new stake in O-I Glass during the second quarter worth about $254,000. Bank of America Corp DE bought a new stake in O-I Glass during the second quarter worth about $33,436,000. Freestone Grove Partners LP purchased a new stake in O-I Glass in the second quarter worth about $536,000. Finally, Jupiter Topco LLC purchased a new stake in O-I Glass in the second quarter worth about $685,000. Institutional investors own 97.24% of the company's stock.
About O-I Glass
(
Get Free Report)
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.
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