O-I Glass (NYSE:OI) Hits New 1-Year Low - Time to Sell?

Key Points

• O-I Glass shares hit a new 52-week low, falling to $5.31 during Monday trading, down from a previous close of $5.60. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed, with three Buy, four Hold and two Sell ratings. The consensus rating is Hold, with an average price target of $9.69, although UBS downgraded the stock to Neutral with a $6 target.
• The company’s latest quarterly results missed expectations: adjusted EPS was $0.09 versus the $0.24 consensus, while revenue declined 2.2% year over year to $1.67 billion. O-I Glass also carries substantial leverage, with a debt-to-equity ratio of 8.89.

O-I Glass, Inc. (NYSE:OI - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Monday. The company traded as low as $5.31 and last traded at $5.3480, with a volume of 269002 shares trading hands. The stock had previously closed at $5.60.

Wall Street Analyst Weigh In

Several research firms have recently commented on OI. UBS Group lowered shares of O-I Glass from a "buy" rating to a "neutral" rating and set a $6.00 price target for the company. in a research report on Monday. Citigroup upgraded shares of O-I Glass from a "neutral" rating to a "buy" rating and boosted their target price for the company from $8.00 to $9.00 in a research report on Friday, August 21st. Zacks Research raised shares of O-I Glass from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Bank of America reiterated an "underperform" rating and issued a $11.00 price target on shares of O-I Glass in a research report on Tuesday, July 14th. Finally, Weiss Ratings upgraded shares of O-I Glass from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $9.69.

O-I Glass Stock Down 3.1%

The company has a market capitalization of $833.76 million, a PE ratio of -0.73, a price-to-earnings-growth ratio of 2.08 and a beta of 0.68. The company's fifty day moving average is $6.81 and its 200-day moving average is $8.57. 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 announced its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.15). The firm had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.68 billion. O-I Glass had a positive return on equity of 10.40% and a negative net margin of 18.13%.The business's revenue for the quarter was down 2.2% on a year-over-year basis. During the same period last year, the company earned $0.53 earnings per share. As a group, analysts predict that O-I Glass, Inc. will post 0.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in OI. Optiver Holding B.V. raised its position in shares of 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 buying an additional 2,074 shares during the last quarter. Fiduciary Financial Advisors bought a new position in shares of O-I Glass during the second quarter worth $34,000. Global Retirement Partners LLC bought a new position in shares of O-I Glass during the second quarter worth $44,000. Ieq Capital LLC purchased a new position in O-I Glass during the second quarter valued at $106,000. Finally, EverSource Wealth Advisors LLC grew its stake in O-I Glass by 29.2% during the first quarter. EverSource Wealth Advisors LLC now owns 11,038 shares of the industrial products company's stock valued at $116,000 after acquiring an additional 2,495 shares in the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.

About O-I Glass

O-I Glass, Inc NYSE: OI is a global manufacturer of glass packaging. The company produces glass bottles and jars for food, beverages, beer, wine, spirits, pharmaceuticals and other consumer products, serving brand owners and manufacturers that use glass containers for packaging.

The company operates glass-container manufacturing facilities and provides related design, engineering and packaging services. Its products are used across a range of markets and geographies, including North and South America, Europe and other international markets.

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