O-I Glass (NYSE:OI) Reaches New 12-Month Low – Here’s What Happened

O-I Glass, Inc. (NYSE:OI)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $9.78 and last traded at $10.19, with a volume of 555082 shares traded. The stock had previously closed at $10.53.

Analysts Set New Price Targets

Several research analysts recently weighed in on OI shares. Royal Bank of Canada reissued an “outperform” rating and set a $16.00 price target on shares of O-I Glass in a research report on Monday, March 17th. Bank of America upped their target price on O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, January 6th. Citigroup reduced their price target on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Finally, Wells Fargo & Company lowered their price objective on shares of O-I Glass from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, O-I Glass has a consensus rating of “Moderate Buy” and a consensus price target of $15.38.

O-I Glass Stock Performance

The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. The stock has a market cap of $1.63 billion, a P/E ratio of -14.82, a price-to-earnings-growth ratio of 0.24 and a beta of 0.98. The firm’s 50-day moving average is $11.44 and its two-hundred day moving average is $11.72.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. As a group, research analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current year.

Institutional Investors Weigh In On O-I Glass

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new position in O-I Glass during the fourth quarter valued at approximately $45,000. Sterling Capital Management LLC boosted its holdings in shares of O-I Glass by 807.2% during the 4th quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company’s stock worth $53,000 after buying an additional 4,343 shares during the period. KBC Group NV grew its stake in O-I Glass by 42.5% in the 4th quarter. KBC Group NV now owns 7,740 shares of the industrial products company’s stock valued at $84,000 after buying an additional 2,309 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in O-I Glass in the 4th quarter worth $86,000. Finally, Point72 Asset Management L.P. acquired a new position in O-I Glass during the 4th quarter worth $89,000. 97.24% of the stock is currently owned by institutional investors and hedge funds.

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.