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

Key Points

• O-I Glass, Inc. has received an average consensus rating of "Moderate Buy" from eight brokerages, with price targets ranging from $16.00 to $19.00.
• Recent insider trading includes purchases by SVP Darrow A. Abrahams and CEO Gordon Hardie, indicating confidence in the company as they increased their holdings.
• O-I Glass reported earnings of $0.53 per share for the last quarter, surpassing analyst expectations, despite a slight revenue decrease of 1.3% year-over-year.

Shares of O-I Glass, Inc. (NYSE:OI - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $17.00.

Several equities analysts have commented on OI shares. UBS Group reissued a "buy" rating and set a $19.00 price objective (up previously from $17.00) on shares of O-I Glass in a research report on Wednesday, July 9th. BNP Paribas Exane assumed coverage on shares of 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. BNP Paribas set a $18.00 target price on shares of O-I Glass in a report on Wednesday, June 25th. Citigroup upped their price target on O-I Glass from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Finally, Wall Street Zen raised O-I Glass from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th.

Insider Buying and Selling at O-I Glass

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

Institutional Investors Weigh In On O-I Glass

Several institutional investors and hedge funds have recently made changes to their positions in OI. Headlands Technologies LLC bought a new position in O-I Glass in the 2nd quarter valued at approximately $29,000. GAMMA Investing LLC lifted its holdings in shares of O-I Glass by 79.3% during the first quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 1,142 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of O-I Glass during the first quarter valued at $30,000. Smartleaf Asset Management LLC boosted its position in shares of 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 buying an additional 918 shares during the last quarter. Finally, State of Wyoming bought a new stake in O-I Glass in the 2nd quarter worth about $35,000. Institutional investors own 97.24% of the company's stock.

O-I Glass Price Performance

OI stock opened at $13.14 on Friday. The firm has a 50-day moving average of $13.24 and a 200 day moving average of $13.05. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.24 and a quick ratio of 0.77. The company has a market cap of $2.02 billion, a P/E ratio of -7.96, a PEG ratio of 0.25 and a beta of 0.93. O-I Glass has a 1 year low of $9.23 and a 1 year high of $16.04.

O-I Glass (NYSE:OI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The industrial products company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.12. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.70 billion. O-I Glass had a positive return on equity of 13.70% and a negative net margin of 3.95%.The business's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.44 EPS. O-I Glass has set its FY 2025 guidance at 1.300-1.55 EPS. On average, sell-side analysts forecast that O-I Glass will post 1.33 EPS for the current 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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