O-I Glass (NYSE:OI) Hits New 52-Week Low - Should You Sell?

O-I Glass, Inc. (NYSE:OI - Get Free Report) hit a new 52-week low on Monday . The company 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.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on OI shares. Citigroup dropped their price objective on O-I Glass from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company cut 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. Bank of America increased their target price on shares of O-I Glass from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $16.00 price target on shares of O-I Glass in a research report on Monday, March 17th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.38.

O-I Glass Stock Up 3.5 %

The company has a debt-to-equity ratio of 3.78, a current ratio of 1.15 and a quick ratio of 0.70. The business's fifty day moving average price is $11.42 and its two-hundred day moving average price is $11.70. The stock has a market capitalization of $1.64 billion, a PE ratio of -14.97, a price-to-earnings-growth ratio of 0.24 and a beta of 0.98.

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

Institutional Trading of O-I Glass

Institutional investors and hedge funds have recently bought and sold shares of the business. R Squared Ltd acquired a new stake in shares of O-I Glass in the fourth quarter worth $45,000. Sterling Capital Management LLC grew its position in 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 purchasing an additional 4,343 shares during the period. KBC Group NV raised its stake in shares of O-I Glass by 42.5% during 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 purchased a new stake in shares of O-I Glass in the fourth quarter worth about $86,000. Finally, Point72 Asset Management L.P. acquired a new stake in O-I Glass during the fourth quarter worth about $89,000. 97.24% of the stock is currently owned by institutional investors and hedge funds.

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.