O-I Glass (NYSE:OI) Trading Down 7.2% – Should You Sell?

Shares of O-I Glass, Inc. (NYSE:OI) traded down 7.2% on Tuesday . The stock traded as low as $8.85 and last traded at $8.9090. 829,202 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 2,436,711 shares. The stock had previously closed at $9.60.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank Of Canada reduced their price objective on O-I Glass from $14.00 to $11.00 and set an “outperform” rating for the company in a report on Thursday. UBS Group reduced their price target on shares of O-I Glass from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Wells Fargo & Company cut shares of O-I Glass from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $18.00 to $13.00 in a report on Friday, March 20th. Truist Financial restated a “buy” rating and set a $14.00 price objective (down from $15.00) on shares of O-I Glass in a research report on Thursday, April 30th. Finally, Citigroup cut their target price on shares of O-I Glass from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, O-I Glass currently has an average rating of “Hold” and a consensus target price of $13.86.

O-I Glass Trading Down 8.5%

The firm has a market capitalization of $1.35 billion, a P/E ratio of -7.22, a P/E/G ratio of 1.14 and a beta of 0.62. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 3.35. The stock has a 50 day simple moving average of $9.02 and a 200-day simple moving average of $11.65.

O-I Glass (NYSE:OI) last issued 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 business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.47 billion. O-I Glass had a positive return on equity of 13.65% and a negative net margin of 2.91%.O-I Glass’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the company earned $0.40 EPS. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. On average, equities research analysts forecast that O-I Glass, Inc. will post 1.17 EPS for the current fiscal year.

Insider Transactions at O-I Glass

In related news, SVP Randolph L. Burns bought 11,000 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average cost of $9.32 per share, with a total value of $102,520.00. Following the acquisition, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Darrow A. Abrahams purchased 2,774 shares of the business’s stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $9.04 per share, with a total value of $25,076.96. Following the acquisition, the senior vice president directly owned 235,928 shares of the company’s stock, valued at $2,132,789.12. This trade represents a 1.19% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 17,083 shares of company stock worth $157,312 in the last 90 days. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in O-I Glass by 8.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,238,635 shares of the industrial products company’s stock worth $97,094,000 after acquiring an additional 729,191 shares during the period. Alliancebernstein L.P. raised its position in shares of O-I Glass by 0.7% during the 3rd quarter. Alliancebernstein L.P. now owns 7,996,786 shares of the industrial products company’s stock valued at $103,718,000 after purchasing an additional 56,945 shares during the period. Cooper Creek Partners Management LLC lifted its stake in shares of 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 valued at $73,636,000 after buying an additional 2,975,181 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of O-I Glass by 32.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,246,337 shares of the industrial products company’s stock valued at $44,629,000 after buying an additional 1,030,705 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in O-I Glass by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 3,783,387 shares of the industrial products company’s stock worth $55,852,000 after buying an additional 22,430 shares during the period. 97.24% of the stock is currently owned by 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.