O-I Glass (NYSE:OI) Reaches New 52-Week High - Still a Buy?

O-I Glass, Inc. (NYSE:OI - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $14.83 and last traded at $14.71, with a volume of 2606033 shares trading hands. The stock had previously closed at $14.39.

Analyst Ratings Changes

Several equities analysts have weighed in on OI shares. Royal Bank Of Canada restated an "outperform" rating and set a $16.00 target price on shares of O-I Glass in a report on Monday, March 17th. BNP Paribas Exane started coverage on O-I Glass in a report on Wednesday. They set an "outperform" rating and a $18.00 target price on the stock. BNP Paribas set a $18.00 target price on O-I Glass in a report on Wednesday. Truist Financial restated a "buy" rating and set a $16.00 target price (up from $13.00) on shares of O-I Glass in a report on Thursday, May 1st. Finally, Barclays raised their target price on O-I Glass from $13.00 to $14.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.30.

O-I Glass Price Performance

The stock has a market cap of $2.33 billion, a price-to-earnings ratio of -11.97, a price-to-earnings-growth ratio of 0.32 and a beta of 0.96. The stock has a fifty day simple moving average of $13.30 and a 200-day simple moving average of $11.87. The company has a current ratio of 1.24, a quick ratio of 0.73 and a debt-to-equity ratio of 3.83.

O-I Glass (NYSE:OI - Get Free Report) last released its earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.22. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.55 billion. O-I Glass had a positive return on equity of 8.48% and a negative net margin of 2.98%. The company's revenue was up .4% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 EPS. As a group, equities research analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current year.

Institutional Trading of O-I Glass

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of O-I Glass by 2.2% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 42,900 shares of the industrial products company's stock worth $465,000 after purchasing an additional 916 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of O-I Glass by 1.5% during the 1st quarter. Russell Investments Group Ltd. now owns 70,572 shares of the industrial products company's stock worth $809,000 after purchasing an additional 1,074 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of O-I Glass by 79.3% during the 1st quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock worth $30,000 after purchasing an additional 1,142 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of O-I Glass by 1.6% during the 1st quarter. SummerHaven Investment Management LLC now owns 75,226 shares of the industrial products company's stock worth $863,000 after purchasing an additional 1,204 shares in the last quarter. Finally, Baird Financial Group Inc. grew its holdings in shares of O-I Glass by 9.6% during the 4th quarter. Baird Financial Group Inc. now owns 16,152 shares of the industrial products company's stock worth $175,000 after purchasing an additional 1,410 shares in the last quarter. Institutional investors and hedge funds own 97.24% of the company's stock.

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.