O-I Glass, Inc. (NYSE:OI) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• O-I Glass, Inc. has received an average rating of "Moderate Buy" from eight analysts, with a 12-month target price projected at $17.00.
• The company recently reported $0.53 EPS for the quarter, exceeding consensus estimates, while its revenue remained stable at $1.70 billion.
• CEO Gordon Hardie and SVP Darrow A. Abrahams increased their stakes in the company by purchasing shares, reflecting insider confidence in O-I Glass's performance.

Shares of O-I Glass, Inc. (NYSE:OI - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $17.00.

Several research firms have commented on OI. UBS Group restated a "buy" rating and set a $19.00 price objective (up from $17.00) on shares of O-I Glass in a report on Wednesday, July 9th. Truist Financial set a $21.00 price target on O-I Glass and gave the company a "buy" rating in a research note on Friday, July 11th. BNP Paribas set a $18.00 price objective on O-I Glass in a report on Wednesday, June 25th. Wells Fargo & Company reiterated a "mixed" rating on shares of O-I Glass in a report on Monday, August 4th. Finally, Bank of America restated a "neutral" rating and issued a $17.00 price target (up previously from $15.00) on shares of O-I Glass in a report on Wednesday, July 9th.

O-I Glass Price Performance

OI stock traded up $0.13 during trading on Tuesday, hitting $12.76. 1,636,812 shares of the company's stock traded hands, compared to its average volume of 1,352,049. O-I Glass has a 52 week low of $9.23 and a 52 week high of $16.04. 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 business has a fifty day simple moving average of $13.91 and a 200 day simple moving average of $12.90. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of -7.73, a P/E/G ratio of 0.25 and a beta of 0.93.

O-I Glass (NYSE:OI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.12. O-I Glass had a positive return on equity of 13.70% and a negative net margin of 3.95%.The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the company earned $0.44 earnings per share. O-I Glass's 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. As a group, research analysts expect that O-I Glass will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On O-I Glass

A number of large investors have recently added to or reduced their stakes in OI. Headlands Technologies LLC purchased a new stake in shares of O-I Glass during the second quarter valued at about $29,000. State of Wyoming purchased a new stake in O-I Glass during the second quarter valued at approximately $35,000. Smartleaf Asset Management LLC lifted its position in O-I Glass by 64.1% during the second quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 918 shares during the last quarter. GAMMA Investing LLC boosted its stake in O-I Glass by 79.3% in the first quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 1,142 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in O-I Glass in the first quarter worth $30,000. 97.24% of the stock is currently owned by institutional investors.

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.