O-I Glass (NYSE:OI) Hits New 12-Month High – Should You Buy?

Shares of O-I Glass, Inc. (NYSE:OI) hit a new 52-week high on Tuesday . The stock traded as high as $16.09 and last traded at $15.91, with a volume of 398515 shares trading hands. The stock had previously closed at $15.60.

Wall Street Analyst Weigh In

OI has been the topic of a number of recent analyst reports. Truist Financial boosted their price objective on shares of O-I Glass from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Bank of America raised O-I Glass from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $14.00 to $17.00 in a research report on Monday, November 17th. Wells Fargo & Company raised O-I Glass from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $15.00 to $18.00 in a report on Tuesday, January 6th. Wall Street Zen lowered O-I Glass from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 28th. Finally, Zacks Research lowered O-I Glass from a “strong-buy” rating to a “hold” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, O-I Glass currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.88.

O-I Glass Stock Performance

The company has a debt-to-equity ratio of 3.36, a current ratio of 1.33 and a quick ratio of 0.84. The company has a fifty day moving average of $15.06 and a two-hundred day moving average of $13.65. The stock has a market capitalization of $2.53 billion, a P/E ratio of -17.52, a price-to-earnings-growth ratio of 0.20 and a beta of 0.78.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, November 4th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.04. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.66 billion. O-I Glass had a positive return on equity of 16.02% and a negative net margin of 2.26%.The business’s revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.04) EPS. On average, equities analysts anticipate that O-I Glass, Inc. will post 1.33 EPS for the current year.

Hedge Funds Weigh In On O-I Glass

A number of large investors have recently bought and sold shares of OI. Farther Finance Advisors LLC boosted its position in O-I Glass by 87.6% during the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 830 shares during the period. Headlands Technologies LLC bought a new stake in O-I Glass in the second quarter valued at $29,000. Smartleaf Asset Management LLC boosted its holdings 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 acquiring an additional 918 shares during the period. State of Wyoming acquired a new position in shares of O-I Glass during the second quarter valued at $35,000. Finally, First Horizon Corp grew its position in shares of O-I Glass by 2,125.5% during the fourth quarter. First Horizon Corp now owns 3,227 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 3,082 shares during the last quarter. Institutional investors own 97.24% of the company’s stock.

O-I Glass Company Profile

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.