O-I Glass (NYSE:OI) Trading 5.4% Higher

O-I Glass, Inc. (NYSE:OI) shares traded up 5.4% during mid-day trading on Wednesday . The stock traded as high as $12.99 and last traded at $12.97. 345,727 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 1,748,704 shares. The stock had previously closed at $12.31.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on OI. Robert W. Baird reduced their target price on O-I Glass from $22.00 to $18.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Wells Fargo & Company lowered their price target on O-I Glass from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. Royal Bank of Canada decreased their target price on O-I Glass from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Citigroup dropped their price objective on O-I Glass from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, July 8th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.89.

O-I Glass Trading Up 1.5 %

The company has a 50 day moving average of $11.64 and a 200 day moving average of $13.47. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 2.85. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of -8.06, a price-to-earnings-growth ratio of 1.83 and a beta of 1.24.

O-I Glass (NYSE:OI) last released its earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.88 earnings per share. As a group, research analysts anticipate that O-I Glass, Inc. will post 1.13 EPS for the current year.

Insider Activity at O-I Glass

In related news, Director John Humphrey purchased 15,000 shares of O-I Glass stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of $11.30 per share, with a total value of $169,500.00. Following the completion of the transaction, the director now owns 84,227 shares of the company’s stock, valued at approximately $951,765.10. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.49% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On O-I Glass

Several hedge funds have recently modified their holdings of the company. Fidelis Capital Partners LLC bought a new stake in O-I Glass in the 1st quarter valued at about $33,000. TFO Wealth Partners LLC raised its holdings in O-I Glass by 24,311.1% during the 4th quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 2,188 shares during the period. FinTrust Capital Advisors LLC bought a new stake in O-I Glass during the 1st quarter valued at $38,000. Headlands Technologies LLC bought a new stake in O-I Glass during the 1st quarter valued at $39,000. Finally, Bessemer Group Inc. increased its holdings in shares of O-I Glass by 40.2% in the first quarter. Bessemer Group Inc. now owns 4,597 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 1,318 shares during the period. Institutional investors and hedge funds own 97.24% of the company’s stock.

O-I Glass Company Profile

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.