O-I Glass (NYSE:OI) Stock, Quote.Headers.trade-ideas

O-I Glass

O-I Glass is the world's largest manufacturer of glass bottles; 70% of its revenue comes from outside the United States. O-I has a leading position in key markets such as Europe, North America, and Brazil. Beer is the primary end market for O-I's glass bottles, which are also used for wine, soda, spirits, condiments, and food. O-I is looking to maintain or expand its dominant positions in Europe, North America, and South America.

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Pinterest Issues Weak Revenue Forecast, Joins Groupon, O-I Glass And Other Big Stocks Moving Lower In Wednesday&#39;s Pre-Market Session

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Earnings

News

Price Target

Small Cap

Markets

Analyst Ratings

Shares of O-I Glass (NYSE: OI) have gained 3.5% over the past four weeks to close the last trading session at $11.68, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication.

Wall Street Analysts See a 52.23% Upside in O-I Glass: Can the Stock Really Move This High?

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RBC Capital analyst Arun Viswanathan maintains O-I Glass (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) with a Outperform and lowers the price target from $20 to $18.

RBC Capital Maintains Outperform on O-I Glass, Lowers Price Target to $18

WIIM

O-I Glass shares are trading lower after multiple firms lowered their respective price targets on the stock. The company recently lowered its FY24 guidance.

Barclays analyst Michael Leithead maintains O-I Glass (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) with a Equal-Weight and lowers the price target from $15 to $14.

Barclays Maintains Equal-Weight on O-I Glass, Lowers Price Target to $14

Truist Securities analyst Michael Roxland reiterates O-I Glass (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) with a Buy and lowers the price target from $17 to $16.

Reiteration

Truist Securities Reiterates Buy on O-I Glass, Lowers Price Target to $16

Baird analyst Ghansham Panjabi maintains O-I Glass (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) with a Outperform and lowers the price target from $22 to $18.

Baird Maintains Outperform on O-I Glass, Lowers Price Target to $18

U.S. stock futures were higher this morning, with the Nasdaq futures gaining around 1.5% on Wednesday.
Shares of Pinterest, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NASDAQ">PINS</a>) fell sharply in pre-market trading  after the company issued third-quarter revenue <a href="https://www.benzinga.com/news/earnings/24/07/40051745/pinterest-q2-earnings-revenue-eps-beat-but-weak-guidance-weighs-on-shares">guidance below estimates</a>.
Pinterest reported second-quarter revenue of $854 million, beating the consensus estimate of $847.81 million, according to Benzinga Pro. The idea discovery platform company reported adjusted earnings of 29 cents per share, beating analyst estimates of 28 cents per share, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Pinterest expects third-quarter revenue to be in the range of $885 million to $900 million versus estimates of $907.7 million.
Pinterest shares dipped 10.5% to $33.43 in the pre-market trading session.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>MacroGenics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNX#NASDAQ">MGNX</a>) shares fell 24% to $3.99 in pre-market trading. The company announced a presentation of clinical data from the TAMARACK Phase 2 study of vobramitamab duocarmazine at the upcoming European Society for Medical Oncology Congress 2024.</li>
<li>Penumbra, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEN#NYSE">PEN</a>) shares declined 20.3% to $137.93 in pre-market trading after the company reported second-quarter financial results and cut its FY24 revenue guidance below estimates.</li>
<li>Groupon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRPN#NASDAQ">GRPN</a>) shares tumbled 18.6% to $12.75 in pre-market trading following a second-quarter EPS miss.</li>
<li>Definitive Healthcare Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DH#NASDAQ">DH</a>) shares dipped 17.6% to $4.71 in pre-market trading. Needham analyst Ryan MacDonald reiterated Definitive Healthcare with a Hold.</li>
<li>O-I Glass, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) declined 15.5% to $9.80 in pre-market trading after the company lowered its FY24 guidance.</li>
<li>Lemonade, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMND#NYSE">LMND</a>) shares fell 14.6% to $19.33 in pre-market trading following quarterly results.</li>
<li>Cantaloupe, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTLP#NASDAQ">CTLP</a>) fell 10.5% to $7.01 in pre-market trading.</li>
<li>Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>) fell 9.3% to $367.00 in pre-market trading following second-quarter results.</li>
<li>Axos Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AX#NYSE">AX</a>) declined 9% to $70.60 in pre-market trading following weak quarterly sales.             </li>
<li>SiteOne Landscape Supply, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SITE#NYSE">SITE</a>) dipped 8.2% to $131.77 in pre-market trading following second-quarter results.</li>
<li>Archrock, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AROC#NYSE">AROC</a>) dipped 7% to $20.00 in pre-market trading following weak quarterly results.</li>
<li>Waters Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAT#NYSE">WAT</a>) fell 6.9% to $305.00 in pre-market trading as the company lowered its FY24 outlook.</li>
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Pinterest Issues Weak Revenue Forecast, Joins Groupon, O-I Glass And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

General

O-I Glass shares are trading lower after the company lowered its FY24 guidance.

Shares of Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) shares rose sharply in today's pre-market trading following better-than-expected <a href="https://www.benzinga.com/news/earnings/24/07/40060832/amd-skyrockets-over-9-lifting-along-with-ai-rival-nvidia-whats-going-on">second-quarter earnings</a>.
AMD reported quarterly earnings of 69 cents per share which beat the analyst consensus estimate of 68 cents per share. The company reported quarterly sales of $5.835 billion which beat the analyst consensus estimate of $5.724 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
AMD shares jumped 9.1% to $151.01 in pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Primech Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PMEC#NASDAQ">PMEC</a>) gained 114.8% to $1.13 in pre-market trading after gaining over 5% on Tuesday.</li>
<li>Heramba Electric plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PITA#NASDAQ">PITA</a>) shares climbed 92.8% to $8.29 in pre-market trading after dipping around 49% on Tuesday.</li>
<li>NuZee, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUZE#NASDAQ">NUZE</a>) rose 79.4% to $6.64 in pre-market trading after gaining around 3% on Tuesday.</li>
<li>Telesis Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBIO#NASDAQ">TBIO</a>) gained 39.8% to $5.52 in pre-market trading.</li>
<li>Faraday Future Intelligent Electric Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIE#NASDAQ">FFIE</a>) shares gained 33.1% to $0.4205 in pre-market trading after the company regained Nasdaq compliance.</li>
<li>Powell Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POWL#NASDAQ">POWL</a>) gained 25.3% to $167.02 in pre-market trading after posting better-than-expected third-quarter results.</li>
<li>BIMI Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIMI#NASDAQ">BIMI</a>) shares gained 22.8% to $0.48 in pre-market trading after dipping 66% on Tuesday.      </li>
<li>DallasNews Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DALN#NASDAQ">DALN</a>) shares gained 19.1% to $3.91 in pre-market trading after the company reported a year-over-year increase in second-quarter financial results.</li>
<li>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>) gained 12.1% to $77.35 in pre-market trading after the company announced that the Nuclear Regulatory Commission has approved its request to extend the operation of Comanche Peak Nuclear Power Plant through 2053.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>FibroGen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) shares fell 40.2% to $0.6159 in pre-market trading. The company announced topline results from two late-stage trials evaluating the efficacy and safety of pamrevlumab in patients with pancreatic cancer and said its Precision Promise study in metastatic pancreatic cancer did not meet its primary endpoint.</li>
<li>MacroGenics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNX#NASDAQ">MGNX</a>) shares declined 24% to $3.99 in pre-market trading. The company announced a presentation of clinical data from the TAMARACK Phase 2 study of vobramitamab duocarmazine at the upcoming European Society for Medical Oncology Congress 2024.</li>
<li>Jet.AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JTAI#NASDAQ">JTAI</a>) fell 21.5% to $0.2631 in pre-market trading. Jet.AI announced expiration and successful results of exchange offer and consent solicitation relating to warrants.</li>
<li>Velo3D, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLD#NYSE">VLD</a>) shares fell 20.6% to $2.20 in pre-market trading after declining 4% on Tuesday.</li>
<li>Penumbra, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEN#NYSE">PEN</a>) shares fell 20.3% to $137.93 in pre-market trading after the company reported second-quarter financial results and cut its FY24 revenue guidance below estimates.</li>
<li>Groupon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRPN#NASDAQ">GRPN</a>) shares declined 18.6% to $12.75 in pre-market trading following a second-quarter EPS miss.</li>
<li>Definitive Healthcare Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DH#NASDAQ">DH</a>) shares fell 17.6% to $4.71 in pre-market trading. Needham analyst Ryan MacDonald reiterated Definitive Healthcare with a Hold.</li>
<li>O-I Glass, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) fell 15.5% to $9.80 in pre-market trading after the company lowered its FY24 guidance.</li>
<li>Lemonade, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMND#NYSE">LMND</a>) shares dipped 14.6% to $19.33 in pre-market trading following quarterly results.</li>
<li>Tivic Health Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIVC#NASDAQ">TIVC</a>) shares fell 12.4% to $0.5056 in pre-market trading after dipping 18% on Tuesday.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/news/earnings/24/07/40059087/nasdaq-tumbles-amid-decline-in-tech-stocks-greed-index-moves-to-fear-zone">Nasdaq Tumbles As Microsoft, Nvidia And Other Tech Stocks Decline: Greed Index Moves To &#8216;Fear&#8217; Zone</a></li>
</ul>

Guidance

O-I Glass Lowers FY24 Adjusted EPS Guidance to $1.00-$1.25 vs $1.69 Est. (Prior $1.50-$2.00), Lowers FY24 Free Cash Flow Guidance to $50M-$100M From Prior $100M-$150M

O-I Glass (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) reported quarterly earnings of $0.44 per share which met the analyst consensus estimate. The company reported quarterly sales of $1.700 billion which missed the analyst consensus estimate of $1.784 billion by 4.73 percent. This is a 10.05 percent decrease over sales of $1.890 billion the same period last year.

Earnings Misses

O-I Glass Q2 2024 GAAP EPS $0.44, Inline, Sales $1.700B Miss $1.784B Estimate

Shares of O-I Glass (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oi#NYSE">OI</a>) have gained 3.5% over the past four weeks to close the last trading session at $11.68, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $17.78 indicates a potential upside of 52.2%.
The mean estimate comprises nine short-term price targets with a standard deviation of $4.58. While the lowest estimate of $12 indicates a 2.7% increase from the current price level, the most optimistic analyst expects the stock to surge 122.6% to reach $26. It&#39;s very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That&#39;s because the ability and unbiasedness of analysts in setting price targets have long been questionable.
But, for OI, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company&#39;s ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn&#39;t gauge how much a stock could gain, it has proven to be powerful in predicting an upside.
Price, Consensus and EPS Surprise
<img alt="Zacks Price, Consensus and EPS Surprise Chart for OI" class="chart" src="https://chart-service.zacks.com/images/daily/yesop_price_consensus_surprise/OI.png" style="height:auto; width:100%" title="" />
Here&#39;s What You Should Know About Analysts&#39; Price Targets
According to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company&#39;s fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock&#39;s price movement. While that doesn&#39;t necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Why OI Could Witness a Solid Upside
There has been increasing optimism among analysts lately about the company&#39;s earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current year, one estimate has moved higher over the last 30 days compared to no negative revision. As a result, the Zacks Consensus Estimate has increased 2%.
Moreover, OI currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock&#39;s potential upside in the near term.
Therefore, while the consensus price target may not be a reliable indicator of how much OI could gain, the direction of price movement it implies does appear to be a good guide.
<a href="https://www.zacks.com/stock/news/2304436/wall-street-analysts-see-a-52-23-upside-in-o-i-glass-oi-can-the-stock-really-move-this-high?cid=CS-BENZ-FT-tale_of_the_tape|consensus_price_target-2304436">To read this article on Zacks.com click here.</a>

UBS analyst Curt Woodworth maintains O-I Glass (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) with a Buy and lowers the price target from $26 to $18.

UBS Maintains Buy on O-I Glass, Lowers Price Target to $18

Wells Fargo analyst Gabe Hajde maintains O-I Glass (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) with a Overweight and lowers the price target from $19 to $18.

Wells Fargo Maintains Overweight on O-I Glass, Lowers Price Target to $18

Citigroup analyst Anthony Pettinari maintains O-I Glass (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) with a Neutral and lowers the price target from $14 to $12.

Citigroup Maintains Neutral on O-I Glass, Lowers Price Target to $12

Apogee Enterprises, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/apog#NASDAQ">APOG</a>) reported earnings per share of $1.44 in first-quarter fiscal 2025 (ended Jun 1, 2024), surpassing the Zacks Consensus Estimate of $1.16. The bottom line increased 37.1% year over year.
Apogee generated revenues of $331.5 million in the quarter under review, down 8.3% year over year due to lower volume.
<div class="chart_embed">
<h3>Apogee Enterprises, Inc. Price, Consensus and EPS Surprise</h3>
<h3><img alt="Apogee Enterprises, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/51/1719583189.png" style="height:285px; width:620px" title="" /></h3>
Apogee Enterprises, Inc. price-consensus-eps-surprise-chart | Apogee Enterprises, Inc. Quote
</div>
<h3>Operational Update</h3>
Cost of sales in the fiscal first quarter fell 13.4% year over year to $233 million. Gross profit increased 6.3% year over year to $99 million. The gross margin expanded to 29.8% in the quarter from the prior-year quarter&#39;s 25.7%. 
Selling, general and administrative expenses decreased 2.9% year over year to $57 million. The operating income rose 22.5% year over year to $41 million.
<h3>Segment Performances</h3>
In the fiscal first quarter, revenues in the Architectural Framing Systems segment fell 18.9% year over year to $133 million due to lower end-market demand. The segment&#39;s operating profit was $18.4 million compared with the year-ago quarter&#39;s $19.9 million. The impacts of lower volumes were partially offset by favorable material costs, favorable mix and productivity gains. 
Revenues in the Architectural Glass segment decreased 10.8% year over year to $87 million due to lower end-market demand. This was partially offset by improved pricing. The segment reported an operating income of $17 million, up 3.5% year over year. 
Revenues in the Architectural Services segment improved 10.7% year over year to $99 million, owing to higher volumes and a favorable mix of projects. The segment reported an operating profit of $5.6 million against an operating loss of $0.6 million in the year-ago quarter. 
Revenues in the Large-Scale Optical Technologies segment were down 5.8% year over year to $21 million, driven by lower volume. The segment reported an operating profit of $4.8 million in the fiscal first quarter compared with the prior-year quarter&#39;s $5.5 million.
<h3>Backlog</h3>
The Architectural Services segment&#39;s backlog came in at $867 million at the end of the fiscal first quarter compared with $808 million at the end of the prior quarter.
<h3>Financial Position</h3>
Apogee had cash and cash equivalents of $30 million at the end of first-quarter fiscal 2025 compared with $37 million at the end of fiscal 2024. Cash provided by operating activities was $5.5 million in the fiscal first quarter compared with the prior-year quarter&#39;s $21.3 million. 
The long-term debt was $77 million at the end of the fiscal first quarter compared with $62 million at the fiscal 2024-end.&nbsp;&nbsp;&nbsp;
<h3>FY25 Guidance</h3>
Apogee expects fiscal 2025 adjusted EPS between $4.65 and $5.00, up from the previously disclosed $4.35-$4.75. The company anticipates revenues to decline 4-7% from the fiscal 2024 reported figure. Management projects capital expenditure between $40 million and $50 million for fiscal 2025, and a long-term average tax rate of 24.5%.
<h3>Price Performance</h3>
Shares of Apogee have gained 37.1% in the past year against the industry&#39;s fall of 38.9%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/97/69864.jpg?v=856385066" /> 
Image Source: Zacks Investment Research
<h3>Zacks Rank</h3>
Apogee currently carries a Zacks Rank #3 (Hold).
<h3>Glass Product Stock Awaiting Results</h3>
O-I Glass, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oi#NYSE">OI</a>) is expected to release its second-quarter 2024 results soon. The Zacks Consensus Estimate for the company&#39;s earnings per share is pegged at 41 cents for the second quarter, suggesting a decline of 53.4% from the year-ago reported figure. The Zacks Consensus Estimate for total revenues is pinned at $1.8 billion, indicating a year-over-year decrease of 7.2%.
<h3>Industrial Product Stocks Awaiting Results</h3>
Applied Industrial Technologies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ait#NYSE">AIT</a>) is expected to release its second-quarter 2024 results soon.
The Zacks Consensus Estimate for the company&#39;s earnings per share is pegged at $2.52 for the second quarter, suggesting an improvement of 7.23% from the year-ago reported figure. The Zacks Consensus Estimate for total revenues is pinned at $1.2 billion, indicating a year-over-year increase of 2.4%. 
Cintas Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ctas#NASDAQ">CTAS</a>) is expected to release its second-quarter 2024 results soon. The Zacks Consensus Estimate for Cintas&#39; 2024 earnings is pegged at $3.80 per share, indicating year-over-year growth of 14.1%. The Zacks Consensus Estimate for total revenues is pinned at $2.5 billion, implying a year-over-year rise of 7.9%.
<a href="https://www.zacks.com/stock/news/2295201/apogee-apog-tops-q1-earnings-estimates-hikes-fy25-view?cid=CS-BENZ-FT-analyst_blog|earnings_article-2295201">To read this article on Zacks.com click here.</a>

APOG

CTAS

Apogee Tops Q1 Earnings Estimates, Hikes FY25 View

The most oversold stocks in the materials sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi">RSI is below 30</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">Ball Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BALL#NYSE">BALL</a>)</h3>
<ul>
<li>On June 25, Truist Securities analyst Michael Roxland upgraded Ball from Hold to Buy and raised the price target from $67 to $76. The company's stock fell around 8% over the past five days and has a <a href="https://www.benzinga.com/quote/BALL">52-week low of $42.81</a>.</li>
<li>RSI Value: 29.32</li>
<li>BALL Price Action: Shares of Ball fell 0.3% to close at $61.40 on Tuesday.</li>
<li><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent062624&amp;t=be2bearmibe3na1">Benzinga Pro's real-time newsfeed</a> alerted to latest Ball&#8217;s news.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="676" height="739" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26000245/Screenshot-2024-06-26-at-11.02.34-AM.png" alt="" class="wp-image-405670" style="width:424px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26000245/Screenshot-2024-06-26-at-11.02.34-AM.png 676w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26000245/Screenshot-2024-06-26-at-11.02.34-AM-274x300.png 274w" sizes="(max-width: 676px) 100vw, 676px" /></a></figure>
<h3 class="wp-block-heading">O-I Glass Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>)&nbsp;&nbsp;&nbsp;</h3>
<ul>
<li>On June 18, O-I Glass announced plans to invest $65 million in electrification and decarbonization in Veauche, France. The company's stock fell around 14% over the past month. It <a href="https://www.benzinga.com/quote/OI">has a 52-week low</a> of $10.78.</li>
<li>RSI Value: 27.50</li>
<li>OI Price Action: Shares of O-I Glass fell 0.9% to close at $10.98 on Tuesday.</li>
<li>Benzinga Pro's charting tool helped identify the <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent062624&amp;t=be2bearmibe3na1">trend in OI&#8217;s stock</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="690" height="747" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26000354/Screenshot-2024-06-26-at-11.03.45-AM.png" alt="" class="wp-image-405671" style="width:478px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26000354/Screenshot-2024-06-26-at-11.03.45-AM.png 690w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26000354/Screenshot-2024-06-26-at-11.03.45-AM-277x300.png 277w" sizes="(max-width: 690px) 100vw, 690px" /></a></figure>
<h3 class="wp-block-heading">Nucor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>)</h3>
<ul>
<li>On June 14, Nucor cautioned that it expects earnings of $2.20 to $2.30 per diluted share, significantly lower than $5.81 in the year-ago period. The earnings expectations fell short of the $2.99 consensus. The company's stock fell around 10% over the past month and has a 52-week <a href="https://www.benzinga.com/quote/NUE">low of $140.08</a>.</li>
<li>RSI Value: 28.67</li>
<li>NUE Price Action: Shares of Nucor fell 2.6% to close at $151.48 on Tuesday.</li>
<li>Benzinga Pro's signals feature notified of a <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent062624&amp;t=be2bearmibe3na1">potential breakout in NUE's shares</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="661" height="747" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26000510/Screenshot-2024-06-26-at-11.05.00-AM.png" alt="" class="wp-image-405672" style="width:468px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26000510/Screenshot-2024-06-26-at-11.05.00-AM.png 661w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26000510/Screenshot-2024-06-26-at-11.05.00-AM-265x300.png 265w" sizes="(max-width: 661px) 100vw, 661px" /></a></figure>
Read More: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/06/39478357/gossamer-bio-and-2-other-stocks-under-2-insiders-are-buying">Gossamer Bio And 2 Other Stocks Under $2 Insiders Are Buying</a>

BALL

Top 3 Materials Stocks That May Explode In Q2

O-I Glass, Inc. (&quot;O-I Glass&quot; or &quot;O-I&quot;) and GridBeyond plan to implement a groundbreaking battery storage solution at O-I&#39;s Alloa, UK facility.&nbsp; The innovative 8MW battery system and supporting energy management system (EMS) leverages artificial intelligence to significantly enhance energy efficiency, resilience and sustainability. 
&nbsp;
&quot;Our energy strategy is grounded in resilience, innovation, and transformation, to embrace cutting-edge solutions that are scalable and sustainable,&quot; said Randy Burns, Chief Sustainability and Corporate Affairs Officer for O-I. &quot;

O-I Glass Says It Plans To Implement A Groundbreaking Battery Storage Solution At O-i's Alloa, UK Facility With GridBeyond

Financing

O-I Glass Plans $65M Investment In Electrification And Decarbonization In Veauche, France

The most oversold stocks in the materials sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi">RSI is below 30</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">Steel Dynamics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>)</h3>
<ul>
<li>On May 20, Jefferies analyst Christopher LeFemina initiated coverage on Steel Dynamics with a Hold rating and announced a price target of $150. The company's stock fell around 6% over the past five days and has a <a href="https://www.benzinga.com/quote/STLD">52-week low of $95.52</a>.</li>
<li>RSI Value: 29.89</li>
<li>STLD Price Action: Shares of Steel Dynamics fell 2.2% to close at $125.52 on Friday.</li>
<li>Benzinga Pro's real-time newsfeed alerted to latest <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent061024&amp;t=be2bearmibe3na1">Steel Dynamics news</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent061024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="679" height="678" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/10022548/Screenshot-2024-06-10-at-11.55.42-AM.png" alt="" class="wp-image-378829" style="width:431px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/10022548/Screenshot-2024-06-10-at-11.55.42-AM.png 679w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/10022548/Screenshot-2024-06-10-at-11.55.42-AM-300x300.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/10022548/Screenshot-2024-06-10-at-11.55.42-AM-150x150.png 150w" sizes="(max-width: 679px) 100vw, 679px" /></a></figure>
<h3 class="wp-block-heading">Cleveland-Cliffs Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>)</h3>
<ul>
<li>On June 6, GLJ Research analyst Gordon Johnson downgraded Cleveland-Cliffs from Buy to Sell and announced a $10.13 price target. The company's stock fell around 8% over the past five days. It <a href="https://www.benzinga.com/quote/CLF">has a 52-week low</a> of $13.84.</li>
<li>RSI Value: 24.88</li>
<li>CLF Price Action: Shares of Cleveland-Cliffs fell 1.6% to close at $15.80 on Friday.</li>
<li><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent061024&amp;t=be2bearmibe3na1">Benzinga Pro's charting tool</a> helped identify the trend in CLF stock.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent061024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="694" height="716" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/10022719/Screenshot-2024-06-10-at-11.57.13-AM.png" alt="" class="wp-image-378834" style="width:501px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/10022719/Screenshot-2024-06-10-at-11.57.13-AM.png 694w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/10022719/Screenshot-2024-06-10-at-11.57.13-AM-291x300.png 291w" sizes="(max-width: 694px) 100vw, 694px" /></a></figure>
<h3 class="wp-block-heading">O-I Glass Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>)</h3>
<ul>
<li>On May 20, O-I Glass announced that Owens-Brockway Glass Container announced pricing of senior notes offering. The company's stock fell around 12% over the past month and has a 52-week <a href="https://www.benzinga.com/quote/OI">low of $11.85</a>.</li>
<li>RSI Value: 29.91</li>
<li>OI Price Action: Shares of O-I Glass fell 2.1% to close at $11.87 on Friday.</li>
<li>Benzinga Pro's signals feature notified of a potential breakout in <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent061024&amp;t=be2bearmibe3na1">O-I Glass shares</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent061024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="666" height="746" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/10022817/Screenshot-2024-06-10-at-11.58.11-AM.png" alt="" class="wp-image-378837" style="width:512px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/10022817/Screenshot-2024-06-10-at-11.58.11-AM.png 666w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/10022817/Screenshot-2024-06-10-at-11.58.11-AM-268x300.png 268w" sizes="(max-width: 666px) 100vw, 666px" /></a></figure>
<h3 class="wp-block-heading">Ternium SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TX#NYSE">TX</a>)</h3>
<ul>
<li>On May 28, JP Morgan analyst Rodolfo Angele maintained Ternium with an Overweight and raised the price target from $54 to $56. The company's shares lost around 9% over the past five days. The company's 52-week low is $35.22.</li>
<li>RSI Value: 25.35</li>
<li>TX Price Action: Shares of Ternium fell 4.1% to close at $39.22 on Friday.</li>
<li><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent061024&amp;t=be2bearmibe3na1">Benzinga Pro's earnings calendar</a> was used to track TX upcoming earnings report</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent061024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="652" height="734" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/10022905/Screenshot-2024-06-10-at-11.59.00-AM.png" alt="" class="wp-image-378838" style="width:433px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/10022905/Screenshot-2024-06-10-at-11.59.00-AM.png 652w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/10022905/Screenshot-2024-06-10-at-11.59.00-AM-266x300.png 266w" sizes="(max-width: 652px) 100vw, 652px" /></a></figure>
<h3 class="wp-block-heading">Sherwin-Williams Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHW#NYSE">SHW</a>)</h3>
<ul>
<li>On April 23, the company reported first-quarter adjusted earnings per share of $2.17, missing the Wall Street view of $2.21. "We also continued to execute our capital allocation strategy by investing $546 million in share repurchases and increasing our dividend 18.2% in the quarter," said President and Chief Executive Officer Heidi G. Petz. The company's shares fell around 9% over the past month. The company <a href="https://www.benzinga.com/quote/SHW">has a 52-week low</a> of $232.06.</li>
<li>RSI Value: 26.40</li>
<li>SHW Price Action: Shares of Sherwin-Williams fell 4% to close at $291.95 on Friday.</li>
<li><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent061024&amp;t=be2bearmibe3na1">Insider trades for SHW</a> were monitored using Benzinga Pro.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent061024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="651" height="737" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/10023016/Screenshot-2024-06-10-at-12.00.11-PM.png" alt="" class="wp-image-378842" style="width:466px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/10023016/Screenshot-2024-06-10-at-12.00.11-PM.png 651w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/10023016/Screenshot-2024-06-10-at-12.00.11-PM-265x300.png 265w" sizes="(max-width: 651px) 100vw, 651px" /></a></figure>
Read More: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/06/39226950/jim-cramer-is-worried-about-palo-alto-networks-calls-monday-com-really-good">Jim Cramer Is &#8216;Worried&#8217; About Palo Alto Networks, Calls Monday.com &#8216;Really Good</a>&#8216;

Long Ideas

Pre-Market Outlook

STLD

Top 5 Materials Stocks That Could Blast Off In June

Analysts have been eager to weigh in on the Consumer Cyclical sector with new ratings on Cheesecake Factory (CAKE – Research Report), O-I Glass (OI...

Analysts Have Conflicting Sentiments on These Consumer Cyclical Companies: Cheesecake Factory (CAKE), O-I Glass (OI) and Norwegian Cruise Line (NCLH)

July 2024 New Analysts Cover Rivian, McDonald's, Paycom, Spotify +

RBC Capital analyst Arun Viswanathan maintained a Buy rating on O-I Glass (OI – Research Report) on August 2 and set a price target of $18.00. The ...

O-I Glass (OI) Receives a Buy from RBC Capital

In a report released today, Michael Roxland from Truist Financial maintained a Buy rating on O-I Glass (OI – Research Report). The company's shares...

Truist Financial Reaffirms Their Buy Rating on O-I Glass (OI)

O-I Glass (OI) has shared an update. O-I Glass, Inc. is set to shut down four furnaces in its Americas segment to streamline operations under its F...

O-I Glass Announces Furnace Shutdowns and Restructuring Costs

Companies in the Consumer Cyclical sector have received a lot of coverage today as analysts weigh in on Cracker Barrel (CBRL – Research Report), O-...

Analysts Offer Insights on Consumer Cyclical Companies: Cracker Barrel (CBRL), O-I Glass (OI) and Topgolf Callaway Brands (MODG)

Truist Financial analyst Michael Roxland maintained a Buy rating on O-I Glass (OI – Research Report) today. The company's shares closed yesterday a...

Truist Financial Sticks to Its Buy Rating for O-I Glass (OI)

Analyst Gabrial Hajde of Wells Fargo maintained a Buy rating on O-I Glass (OI – Research Report), retaining the price target of $18.00. Gabrial Haj...

Buy Rating for O-I Glass on Cost-Cutting and Strategic Initiatives

Barclays analyst Michael Leithead assigned a Hold rating to O-I Glass (OI – Research Report) today and set a price target of $14.00. The company's ...

O-I Glass (OI) Gets a Hold from Barclays

Truist Financial analyst Michael Roxland maintained a Buy rating on O-I Glass (OI – Research Report) today. The company's shares closed last Friday...

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Comments

O-I Glass

O-I Glass (OI) Forecast

O-I Glass (NYSE:OI) Stock, Quote.Headers.trade-ideas