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

Key Points

• O-I Glass, Inc. has received a consensus rating of "Moderate Buy" from ten analysts, with price targets ranging from $16.56 to $18.00.
• Insider purchasing activity includes SVP Darrow A. Abrahams and CEO Gordon Hardie buying shares at prices of $13.05 and $13.10, respectively, indicating confidence in the company's future.
• Institutional investors own 97.24% of O-I Glass, reflecting strong institutional support amid recent changes in investor positions.

O-I Glass, Inc. (NYSE:OI - Get Free Report) has been assigned an average rating of "Moderate Buy" from the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $16.5556.

Several brokerages have commented on OI. Wells Fargo & Company reissued a "mixed" rating on shares of O-I Glass in a research note on Monday, August 4th. BNP Paribas set a $18.00 target price on O-I Glass in a research note on Wednesday, June 25th. Bank of America reissued a "neutral" rating and set a $17.00 target price (up previously from $15.00) on shares of O-I Glass in a research note on Wednesday, July 9th. BNP Paribas Exane began coverage on O-I Glass in a research note on Wednesday, June 25th. They set an "outperform" rating and a $18.00 target price for the company. Finally, Truist Financial lowered their target price on O-I Glass from $21.00 to $17.00 and set a "buy" rating for the company in a research note on Monday, October 13th.

Insider Activity

In other O-I Glass news, SVP Darrow A. Abrahams bought 3,828 shares of the stock in a transaction on Tuesday, August 5th. The stock was purchased at an average price of $13.05 per share, with a total value of $49,955.40. Following the completion of the purchase, the senior vice president owned 184,447 shares in the company, valued at $2,407,033.35. The trade was a 2.12% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gordon Hardie bought 8,000 shares of the stock in a transaction on Tuesday, August 5th. The shares were acquired at an average cost of $13.10 per share, with a total value of $104,800.00. Following the purchase, the chief executive officer owned 515,817 shares of the company's stock, valued at approximately $6,757,202.70. This represents a 1.58% increase in their position. The disclosure for this purchase can be found here. 1.49% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OI. Headlands Technologies LLC acquired a new position in shares of O-I Glass in the second quarter valued at approximately $29,000. GAMMA Investing LLC increased its stake in shares of 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 buying an additional 1,142 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of O-I Glass in the first quarter valued at approximately $30,000. Smartleaf Asset Management LLC increased its stake 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 valued at $35,000 after buying an additional 918 shares during the period. Finally, State of Wyoming acquired a new position in shares of O-I Glass in the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 97.24% of the company's stock.

O-I Glass Trading Down 0.4%

OI opened at $12.17 on Wednesday. O-I Glass has a twelve month low of $9.23 and a twelve month high of $16.04. The company has a 50-day simple moving average of $12.77 and a 200 day simple moving average of $13.12. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 3.58. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -7.38, a P/E/G ratio of 0.23 and a beta of 0.93.

O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings data on Wednesday, March 1st. The industrial products company reported $0.36 earnings per share for the quarter. O-I Glass had a negative net margin of 3.95% and a positive return on equity of 13.70%. The business had revenue of $1.59 billion during the quarter. Analysts predict that O-I Glass will post 1.33 EPS for the current fiscal 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.

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