O-I Glass (NYSE:OI) Trading Down 4.2% - Should You Sell?

O-I Glass, Inc. (NYSE:OI - Get Free Report)'s stock price was down 4.2% during mid-day trading on Wednesday . The stock traded as low as $15.07 and last traded at $15.14. Approximately 428,525 shares were traded during trading, a decline of 72% from the average daily volume of 1,520,928 shares. The stock had previously closed at $15.80.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OI. Royal Bank Of Canada reiterated an "outperform" rating and set a $16.00 price target on shares of O-I Glass in a report on Monday, March 17th. Citigroup upped their target price on shares of O-I Glass from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. BNP Paribas set a $18.00 price target on shares of O-I Glass in a research report on Wednesday, June 25th. BNP Paribas Exane began coverage on shares of O-I Glass in a report on Wednesday, June 25th. They set an "outperform" rating and a $18.00 price target on the stock. Finally, Truist Financial upped their target price on O-I Glass from $16.00 to $21.00 and gave the company a "buy" rating in a report on Friday. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $17.30.

O-I Glass Stock Down 0.6%

The stock's 50-day moving average price is $13.95 and its two-hundred day moving average price is $12.16. The company has a current ratio of 1.24, a quick ratio of 0.73 and a debt-to-equity ratio of 3.83. The stock has a market capitalization of $2.39 billion, a P/E ratio of -12.25, a P/E/G ratio of 0.32 and a beta of 0.97.

O-I Glass (NYSE:OI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.22. O-I Glass had a positive return on equity of 8.48% and a negative net margin of 2.98%. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same period in the prior year, the company earned $0.45 earnings per share. O-I Glass's revenue was up .4% compared to the same quarter last year. As a group, research analysts expect that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of O-I Glass by 79.3% in the first quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock worth $30,000 after purchasing an additional 1,142 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of O-I Glass during the first quarter worth $30,000. Sterling Capital Management LLC boosted its holdings in shares of O-I Glass by 807.2% in the fourth quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company's stock worth $53,000 after acquiring an additional 4,343 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of O-I Glass in the first quarter valued at $85,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of O-I Glass in the fourth quarter valued at $86,000. Institutional investors own 97.24% of the company's stock.

O-I Glass Company Profile

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.