O-I Glass (NYSE:OI) Sets New 12-Month Low - Here's What Happened

Key Points

• O-I Glass hit a new 52-week low on Monday, trading as low as $7.75 before closing near $7.85. The move came amid weakness that has left the stock well below its 50-day and 200-day moving averages.
• Recent analyst commentary has turned cautious, with several firms cutting price targets or downgrading the stock. The consensus rating is now Hold, with an average price target of $15.50.
• The company recently reported mixed quarterly results: earnings of $0.05 per share missed estimates, while revenue of $1.54 billion topped expectations. Insiders have also been buying shares, even as the stock remains pressured.

O-I Glass, Inc. (NYSE:OI - Get Free Report) shares reached a new 52-week low during trading on Monday . The company traded as low as $7.75 and last traded at $7.8540, with a volume of 157884 shares changing hands. The stock had previously closed at $7.91.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on OI shares. Robert W. Baird set a $20.00 target price on O-I Glass in a research note on Thursday, February 12th. UBS Group cut their price objective on shares of O-I Glass from $21.00 to $18.00 and set a "buy" rating on the stock in a report on Friday, April 10th. Wells Fargo & Company downgraded shares of O-I Glass from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $18.00 to $13.00 in a research report on Friday, March 20th. Royal Bank Of Canada set a $14.00 target price on shares of O-I Glass in a report on Friday, April 17th. Finally, Citigroup dropped their target price on shares of O-I Glass from $12.00 to $10.00 and set a "neutral" rating on the stock in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, O-I Glass currently has an average rating of "Hold" and a consensus price target of $15.50.

O-I Glass Stock Performance

The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 3.35. The firm has a 50-day simple moving average of $9.60 and a 200 day simple moving average of $12.52. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -6.41, a price-to-earnings-growth ratio of 0.90 and a beta of 0.63.

O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.04). The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.47 billion. O-I Glass had a negative net margin of 2.91% and a positive return on equity of 13.65%. O-I Glass's revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 earnings per share. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. On average, sell-side analysts predict that O-I Glass, Inc. will post 1.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other O-I Glass news, SVP Randolph L. Burns acquired 11,000 shares of the company's stock in a transaction on Friday, May 8th. The shares were bought at an average cost of $9.32 per share, for a total transaction of $102,520.00. Following the completion of the purchase, the senior vice president owned 133,932 shares in the company, valued at $1,248,246.24. This trade represents a 8.95% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Eduardo Restrepo bought 3,309 shares of O-I Glass stock in a transaction dated Thursday, May 14th. The stock was acquired at an average cost of $8.98 per share, with a total value of $29,714.82. Following the completion of the acquisition, the senior vice president directly owned 94,199 shares of the company's stock, valued at approximately $845,907.02. The trade was a 3.64% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 17,083 shares of company stock valued at $157,312. Insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. grew its position in O-I Glass by 194.6% in the 2nd quarter. Alliancebernstein L.P. now owns 7,939,841 shares of the industrial products company's stock valued at $117,033,000 after buying an additional 5,244,440 shares during the last quarter. Cooper Creek Partners Management LLC raised its position in O-I Glass by 73.8% during the 1st quarter. Cooper Creek Partners Management LLC now owns 7,006,293 shares of the industrial products company's stock worth $73,636,000 after buying an additional 2,975,181 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of O-I Glass in the 4th quarter worth $40,090,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of O-I Glass by 288.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,215,632 shares of the industrial products company's stock worth $47,463,000 after acquiring an additional 2,388,299 shares during the period. Finally, Brandywine Global Investment Management LLC purchased a new stake in shares of O-I Glass in the fourth quarter valued at about $25,064,000. 97.24% of the stock is currently owned by hedge funds and other 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.

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