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

O-I Glass, Inc. (NYSE:OI)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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 traded.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on OI shares. Citigroup increased their price objective on O-I Glass from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of O-I Glass in a research report on Thursday, January 22nd. Bank of America upgraded O-I Glass from a “neutral” rating to a “buy” rating and increased their price target for the company from $14.00 to $17.00 in a report on Monday, November 17th. Truist Financial boosted their price objective on shares of O-I Glass from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $19.00 price objective on shares of O-I Glass in a report on Thursday, January 15th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, O-I Glass has an average rating of “Moderate Buy” and a consensus target price of $17.88.

O-I Glass Price Performance

The firm has a market cap of $2.34 billion, a P/E ratio of -16.23, a price-to-earnings-growth ratio of 0.18 and a beta of 0.77. The stock’s 50-day moving average is $14.79 and its 200-day moving average is $13.60. The company has a quick ratio of 0.84, a current ratio of 1.33 and a debt-to-equity ratio of 3.36.

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

Hedge Funds Weigh In On O-I Glass

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of O-I Glass by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 19,349,218 shares of the industrial products company’s stock valued at $250,959,000 after acquiring an additional 691,989 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in O-I Glass by 2.1% during the third quarter. Dimensional Fund Advisors LP now owns 8,232,239 shares of the industrial products company’s stock worth $106,773,000 after purchasing an additional 170,696 shares during the period. Alliancebernstein L.P. boosted its holdings in O-I Glass by 0.7% during the third 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 in the last quarter. Highland Peak Capital LLC grew its stake in shares of O-I Glass by 22.2% in the 3rd quarter. Highland Peak Capital LLC now owns 3,113,780 shares of the industrial products company’s stock valued at $40,386,000 after purchasing an additional 566,703 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of O-I Glass by 18.7% in the 3rd quarter. Bank of America Corp DE now owns 2,618,748 shares of the industrial products company’s stock worth $33,965,000 after buying an additional 412,497 shares in the last quarter. Institutional investors and hedge funds 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.