O-I Glass (NYSE:OI) Stock Price Down 7.2% – Time to Sell?

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

Wall Street Analysts Forecast Growth

OI has been the subject of several recent analyst reports. Wells Fargo & Company downgraded O-I Glass from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $18.00 to $13.00 in a research note on Friday, March 20th. Bank of America reissued an “underperform” rating and issued a $11.00 target price on shares of O-I Glass in a report on Tuesday. 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 note on Monday, May 4th. Truist Financial restated a “buy” rating and set a $14.00 price target (down from $15.00) on shares of O-I Glass in a report on Thursday, April 30th. Finally, Royal Bank Of Canada reduced their price objective on O-I Glass from $14.00 to $11.00 and set an “outperform” rating on the stock in a research note on Thursday. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $13.86.

O-I Glass Stock Down 8.5%

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 company has a 50-day simple moving average of $9.02 and a 200 day simple moving average of $11.65. The company has a market cap 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.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, April 28th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.47 billion. O-I Glass had a negative net margin of 2.91% and a positive return on equity of 13.65%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 earnings per share. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. On average, equities analysts anticipate that O-I Glass, Inc. will post 1.17 EPS for the current year.

Insider Activity

In other news, SVP Darrow A. Abrahams bought 2,774 shares of the stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $9.04 per share, for a total transaction of $25,076.96. Following the acquisition, the senior vice president owned 235,928 shares of the company’s stock, valued at $2,132,789.12. This represents a 1.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Randolph L. Burns purchased 11,000 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were purchased at an average cost of $9.32 per share, for a total transaction of $102,520.00. Following the transaction, the senior vice president directly owned 133,932 shares in the company, valued at approximately $1,248,246.24. This represents a 8.95% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders purchased 17,083 shares of company stock valued at $157,312. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OI. Assenagon Asset Management S.A. lifted its position in shares of O-I Glass by 596.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 134,542 shares of the industrial products company’s stock worth $1,296,000 after purchasing an additional 115,211 shares during the period. Moody National Bank Trust Division raised its position in shares of O-I Glass by 40.0% in the 2nd quarter. Moody National Bank Trust Division now owns 148,686 shares of the industrial products company’s stock worth $1,432,000 after acquiring an additional 42,493 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of O-I Glass by 3.9% during the 1st quarter. Empowered Funds LLC now owns 726,791 shares of the industrial products company’s stock worth $7,639,000 after purchasing an additional 27,468 shares during the last quarter. Optiver Holding B.V. boosted its position in 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 purchasing an additional 2,074 shares in the last quarter. Finally, Converium Capital Inc. bought a new position in O-I Glass in the first quarter worth about $2,365,000. Hedge funds and other institutional investors own 97.24% of the company’s stock.

About O-I Glass

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.