O-I Glass (NYSE:OI) Given New $8.00 Price Target at Citigroup

Key Points

• Citigroup lowered O-I Glass’s price target from $9 to $8 but maintained a “Buy” rating, implying about 51% upside from the previous close. Analysts overall remain cautious, with a consensus “Hold” rating and an $8.81 target.
• O-I Glass shares fell 5.9% to $5.30 and are near their 52-week low. The company reported a quarterly loss of $0.09 per share, missing expectations, while revenue declined 1.8% year over year to $1.62 billion.
• Institutional investors own 97.24% of the stock, though the company faces significant financial pressure, including negative net margins and a debt-to-equity ratio of 8.89.

O-I Glass (NYSE:OI - Get Free Report) had its price objective lowered by research analysts at Citigroup from $9.00 to $8.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the industrial products company's stock. Citigroup's target price points to a potential upside of 51.00% from the company's previous close.

Several other brokerages have also recently issued reports on OI. Wells Fargo & Company dropped their target price on shares of O-I Glass from $12.00 to $10.00 and set an "overweight" rating on the stock in a report on Monday, October 19th. Zacks Research raised shares of O-I Glass from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Weiss Ratings downgraded shares of O-I Glass from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, October 21st. BNP Paribas Exane cut O-I Glass from an "outperform" rating to a "neutral" rating and set a $8.50 target price on the stock. in a research report on Thursday, July 30th. Finally, Truist Financial cut their price target on O-I Glass from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Thursday. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, O-I Glass has a consensus rating of "Hold" and a consensus target price of $8.81.

O-I Glass Trading Down 5.9%

Shares of O-I Glass stock traded down $0.33 during trading hours on Thursday, reaching $5.30. 3,796,028 shares of the company's stock were exchanged, compared to its average volume of 2,913,439. The company has a fifty day moving average of $6.33 and a 200-day moving average of $9.64. O-I Glass has a 52-week low of $5.20 and a 52-week high of $16.91. The firm has a market capitalization of $814.09 million, a price-to-earnings ratio of -0.71, a price-to-earnings-growth ratio of 2.49 and a beta of 0.68. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 8.89.

O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The industrial products company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.25). O-I Glass had a negative net margin of 18.13% and a positive return on equity of 10.40%. The business had revenue of $1.62 billion during the quarter, compared to analysts' expectations of $1.64 billion. During the same quarter last year, the firm earned $0.48 EPS. The firm's quarterly revenue was down 1.8% compared to the same quarter last year. Sell-side analysts forecast that O-I Glass will post 0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On O-I Glass

Several institutional investors and hedge funds have recently bought and sold shares of OI. Bank of America Corp DE purchased a new stake in O-I Glass during the 2nd quarter valued at about $33,436,000. BlackRock Inc. purchased a new stake in shares of O-I Glass during the second quarter worth approximately $225,727,000. JB Capital Partners LP purchased a new stake in shares of O-I Glass in the second quarter valued at approximately $2,937,150. Wellington Management Group LLP grew its position in O-I Glass by 8.0% in the second quarter. Wellington Management Group LLP now owns 2,131,797 shares of the industrial products company's stock worth $20,529,000 after acquiring an additional 157,472 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of O-I Glass in the 2nd quarter valued at approximately $10,046,000. 97.24% of the stock is owned by hedge funds and other institutional investors.

Key O-I Glass News

Here are the key news stories impacting O-I Glass this week:

• Positive Sentiment: O-I Glass reported approximately $50 million of “Fit to Win” benefits in the third quarter and $135 million year to date, supporting its goal of generating at least $650 million in cumulative benefits by the end of 2027. The company also ended the quarter with approximately $1.5 billion of liquidity. O-I Glass updates 2026 outlook
• Positive Sentiment: Truist Securities maintained a Buy rating on O-I Glass, implying substantial potential upside from current levels, although it reduced its price target to $7 from $8. Truist adjusts O-I Glass price target
• Neutral Sentiment: Americas sales increased to $970 million from $940 million, but segment operating profit slipped to $137 million from $140 million, indicating mixed performance across the company’s major regions. O-I Glass reports third-quarter loss
• Negative Sentiment: O-I Glass posted an adjusted loss of $0.09 per share, versus a consensus estimate for a $0.16 profit in the company’s earnings release data, while revenue fell 1.8% year over year to $1.623 billion and was slightly below expectations. Earnings also declined sharply from $0.48 per share a year earlier. O-I Glass third-quarter earnings
• Negative Sentiment: Management cut its 2026 adjusted EBITDA forecast to $925 million-$950 million and expects to use roughly $300 million of free cash flow. It also anticipates $100 million-$120 million of fourth-quarter charges tied to a proposed permanent European plant closure. O-I Glass lowers outlook
• Negative Sentiment: Europe was the key weakness: sales dropped to $634 million from $688 million, while segment operating profit nearly disappeared at $2 million versus $95 million a year earlier. Management cited soft demand, higher energy and freight costs, and a slower regional recovery. O-I Glass Q3 outlook analysis

O-I Glass Company Profile

O-I Glass, Inc is a global manufacturer of glass packaging products. The company produces glass bottles and jars primarily for the food, beverage, beer, wine, spirits, and pharmaceutical industries, serving brand owners and consumer-products companies.

Its products are designed to provide packaging, preservation, and presentation for a range of consumer goods. O-I also offers glass packaging in various shapes, sizes, and colors, including custom solutions developed for individual brands.

The company traces its history to the Owens Bottle Company, founded in 1903, and the Illinois Glass Company.

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