O-I Glass (NYSE:OI) Shares Cross Above 200 Day Moving Average – Should You Sell?

Shares of O-I Glass, Inc. (NYSE:OI) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $13.60 and traded as high as $15.34. O-I Glass shares last traded at $15.2560, with a volume of 1,185,802 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on OI. Bank of America raised O-I Glass from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $14.00 to $17.00 in a report on Monday, November 17th. Wall Street Zen downgraded shares of O-I Glass from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 28th. Weiss Ratings restated a “sell (d-)” rating on shares of O-I Glass in a research report on Thursday, January 22nd. Wells Fargo & Company raised shares of O-I Glass from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $15.00 to $18.00 in a report on Tuesday, January 6th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $19.00 target price on shares of O-I Glass in a research note on Thursday, January 15th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.88.

O-I Glass Stock Up 1.5%

The stock has a market cap of $2.34 billion, a price-to-earnings ratio of -16.23, a PEG ratio of 0.18 and a beta of 0.77. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.84 and a current ratio of 1.33. The firm’s 50-day simple moving average is $14.79 and its two-hundred day simple moving average is $13.60.

O-I Glass (NYSE:OI) last issued its quarterly earnings results on Tuesday, November 4th. The industrial products company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. O-I Glass had a negative net margin of 2.26% and a positive return on equity of 16.02%. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the business posted ($0.04) earnings per share. O-I Glass’s revenue for the quarter was down 1.5% compared to the same quarter last year. O-I Glass has set its FY 2025 guidance at 1.550-1.650 EPS. On average, sell-side analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

Hedge Funds Weigh In On O-I Glass

Several large investors have recently made changes to their positions in OI. Alliancebernstein L.P. increased its position in O-I Glass by 194.6% in the second quarter. Alliancebernstein L.P. now owns 7,939,841 shares of the industrial products company’s stock worth $117,033,000 after purchasing an additional 5,244,440 shares during the period. Bank of America Corp DE boosted its stake in shares of O-I Glass by 222.6% in the 2nd quarter. Bank of America Corp DE now owns 2,206,251 shares of the industrial products company’s stock valued at $32,520,000 after purchasing an additional 1,522,384 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in shares of O-I Glass during the 3rd quarter worth approximately $18,496,000. Bridgeway Capital Management LLC bought a new stake in shares of O-I Glass during the third quarter worth approximately $14,287,000. Finally, Assenagon Asset Management S.A. boosted its stake in O-I Glass by 181.8% in the third quarter. Assenagon Asset Management S.A. now owns 1,249,473 shares of the industrial products company’s stock valued at $16,206,000 after acquiring an additional 806,059 shares during the last quarter. Institutional investors and hedge funds own 97.24% of the company’s stock.

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.