O-I Glass, Inc. (NYSE:OI) Receives $17.00 Average PT from Brokerages

O-I Glass, Inc. (NYSE:OI) has been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $17.00.

A number of research firms have weighed in on OI. Wall Street Zen raised O-I Glass from a “hold” rating to a “buy” rating in a report on Sunday, June 29th. Zacks Research cut shares of O-I Glass from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. UBS Group restated a “buy” rating and set a $19.00 target price (up from $17.00) on shares of O-I Glass in a research report on Wednesday, July 9th. Citigroup increased their price target on shares of O-I Glass from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, July 3rd. Finally, BNP Paribas set a $18.00 price target on shares of O-I Glass in a research note on Wednesday, June 25th.

Insider Transactions at O-I Glass

In other news, SVP Darrow A. Abrahams bought 3,828 shares of the firm’s stock in a transaction on Tuesday, August 5th. The shares were bought at an average price of $13.05 per share, for a total transaction of $49,955.40. Following the purchase, the senior vice president owned 184,447 shares in the company, valued at approximately $2,407,033.35. The trade was a 2.12% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gordon Hardie acquired 8,000 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The shares were purchased at an average price of $13.10 per share, for a total transaction of $104,800.00. Following the completion of the transaction, the chief executive officer directly owned 515,817 shares in the company, valued at approximately $6,757,202.70. This trade represents a 1.58% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.93% of the stock is owned by insiders.

Institutional Trading of O-I Glass

Institutional investors and hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new stake in O-I Glass in the 2nd quarter worth $29,000. State of Wyoming bought a new stake in shares of O-I Glass in the second quarter worth about $35,000. Smartleaf Asset Management LLC lifted its position in shares of O-I Glass by 64.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock worth $35,000 after buying an additional 918 shares in the last quarter. GAMMA Investing LLC boosted its stake in O-I Glass by 79.3% during the first quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company’s stock valued at $30,000 after buying an additional 1,142 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in O-I Glass during the 1st quarter valued at approximately $30,000. 97.24% of the stock is currently owned by institutional investors.

O-I Glass Price Performance

Shares of NYSE:OI opened at $13.13 on Friday. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.77 and a current ratio of 1.24. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of -7.95, a price-to-earnings-growth ratio of 0.25 and a beta of 0.93. The business has a 50-day simple moving average of $13.14 and a two-hundred day simple moving average of $13.08. O-I Glass has a fifty-two week low of $9.23 and a fifty-two week high of $16.04.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.12. O-I Glass had a negative net margin of 3.95% and a positive return on equity of 13.70%. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the company earned $0.44 earnings per share. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. O-I Glass has set its FY 2025 guidance at 1.300-1.55 EPS. On average, analysts expect that O-I Glass will post 1.33 earnings per share for the current year.

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.