O-I Glass, Inc. (NYSE:OI) Receives $16.25 Consensus Target Price from Analysts

Shares of O-I Glass, Inc. (NYSE:OI) have been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $16.25.

Several research analysts recently issued reports on OI shares. Citigroup reduced their price target on shares of O-I Glass from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Monday, July 8th. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Truist Financial reissued a “buy” rating and issued a $16.00 price target (down previously from $17.00) on shares of O-I Glass in a report on Thursday, August 1st. Barclays reduced their price objective on O-I Glass from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Finally, Robert W. Baird lowered 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.

Insider Activity at O-I Glass

In other news, Director John Humphrey purchased 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average cost of $11.30 per share, for a total transaction of $169,500.00. Following the transaction, the director now directly owns 84,227 shares of the company’s stock, valued at approximately $951,765.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.49% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Thompson Investment Management Inc. lifted its holdings in shares of O-I Glass by 84.2% in the first quarter. Thompson Investment Management Inc. now owns 393,883 shares of the industrial products company’s stock valued at $6,535,000 after purchasing an additional 180,093 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in O-I Glass in the 1st quarter valued at approximately $1,021,000. Duality Advisers LP acquired a new position in O-I Glass during the 1st quarter worth approximately $1,554,000. Norges Bank bought a new position in shares of O-I Glass during the 4th quarter worth approximately $27,562,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of O-I Glass by 8.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,474,863 shares of the industrial products company’s stock valued at $24,158,000 after purchasing an additional 115,728 shares during the last quarter. Institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Performance

NYSE OI opened at $12.67 on Tuesday. O-I Glass has a 1-year low of $10.08 and a 1-year high of $17.58. The company has a 50 day moving average of $12.14 and a 200-day moving average of $13.04. 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 $1.97 billion, a price-to-earnings ratio of -7.97, a PEG ratio of 1.87 and a beta of 1.17.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations 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 business’s revenue was down 8.5% on a year-over-year basis. During the same period last year, the firm posted $0.88 EPS. On average, equities analysts forecast that O-I Glass will post 1.13 earnings per share for the current fiscal year.

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.