O-I Glass (NYSE:OI) Hits New 1-Year Low at $11.45

O-I Glass, Inc. (NYSE:OI)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $11.45 and last traded at $11.46, with a volume of 486193 shares changing hands. The stock had previously closed at $11.89.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on OI shares. Barclays reduced their price objective on shares of O-I Glass from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Monday, May 6th. Royal Bank of Canada reduced their price objective on shares of O-I Glass from $25.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. Bank of America reissued a “neutral” rating and issued a $16.00 price objective (down from $21.00) on shares of O-I Glass in a research report on Friday, April 19th. Robert W. Baird reduced their price objective on shares of O-I Glass from $28.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company reduced their price objective on shares of O-I Glass from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $19.56.

O-I Glass Stock Performance

The stock’s 50-day moving average price is $13.53 and its 200 day moving average price is $15.08. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.56 and a current ratio of 1.02.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. O-I Glass had a negative net margin of 3.45% and a positive return on equity of 18.25%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period last year, the company posted $1.29 earnings per share. The company’s quarterly revenue was down 13.0% compared to the same quarter last year. Sell-side analysts anticipate that O-I Glass, Inc. will post 1.67 earnings per share for the current year.

Hedge Funds Weigh In On O-I Glass

Hedge funds and other institutional investors have recently modified their holdings of the business. Covestor Ltd boosted its stake in shares of O-I Glass by 259.7% during the third quarter. Covestor Ltd now owns 1,669 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 1,205 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in O-I Glass in the first quarter valued at approximately $33,000. TFO Wealth Partners LLC boosted its stake in O-I Glass by 24,311.1% in the fourth quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 2,188 shares in the last quarter. FinTrust Capital Advisors LLC acquired a new stake in O-I Glass in the first quarter valued at approximately $38,000. Finally, Headlands Technologies LLC acquired a new stake in O-I Glass in the first quarter valued at approximately $39,000. 97.24% of the stock is currently owned by institutional investors.

About O-I Glass

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.