O-I Glass, Inc. (NYSE:OI) Given Consensus Rating of “Hold” by Analysts

O-I Glass, Inc. (NYSE:OI) has received an average rating of “Hold” from the nine brokerages that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $15.50.

Several equities analysts have recently issued reports on OI shares. Royal Bank Of Canada set a $14.00 target price on O-I Glass in a report on Friday, April 17th. Citigroup reduced their target price on O-I Glass from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Truist Financial reaffirmed a “buy” rating and issued a $14.00 target price (down from $15.00) on shares of O-I Glass in a report on Thursday, April 30th. Zacks Research lowered O-I Glass from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 3rd. Finally, Wells Fargo & Company lowered O-I Glass from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $18.00 to $13.00 in a report on Friday, March 20th.

Insider Activity

In other news, SVP Darrow A. Abrahams acquired 2,774 shares of O-I Glass stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $9.04 per share, with a total value of $25,076.96. Following the completion of the acquisition, the senior vice president owned 235,928 shares in the company, valued at approximately $2,132,789.12. This trade represents a 1.19% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eduardo Restrepo acquired 3,309 shares of O-I Glass stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $8.98 per share, with a total value of $29,714.82. Following the completion of the acquisition, the senior vice president owned 94,199 shares of the company’s stock, valued at $845,907.02. This trade represents a 3.64% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 17,083 shares of company stock valued at $157,312 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On O-I Glass

Several institutional investors and hedge funds have recently bought and sold shares of OI. Alliancebernstein L.P. grew its holdings in O-I Glass by 194.6% during the second quarter. Alliancebernstein L.P. now owns 7,939,841 shares of the industrial products company’s stock valued at $117,033,000 after purchasing an additional 5,244,440 shares during the period. Cooper Creek Partners Management LLC grew its holdings in O-I Glass by 73.8% during the first quarter. Cooper Creek Partners Management LLC now owns 7,006,293 shares of the industrial products company’s stock valued at $73,636,000 after purchasing an additional 2,975,181 shares during the period. Wellington Management Group LLP bought a new position in O-I Glass during the fourth quarter valued at $40,090,000. Arrowstreet Capital Limited Partnership grew its holdings in O-I Glass by 288.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,215,632 shares of the industrial products company’s stock valued at $47,463,000 after purchasing an additional 2,388,299 shares during the period. Finally, Brandywine Global Investment Management LLC bought a new position in O-I Glass during the fourth quarter valued at $25,064,000. 97.24% of the stock is owned by institutional investors.

O-I Glass Stock Performance

OI stock opened at $7.97 on Thursday. The firm has a market cap of $1.22 billion, a PE ratio of -6.53, a P/E/G ratio of 0.90 and a beta of 0.64. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 3.35. The business has a 50 day moving average of $9.55 and a 200-day moving average of $12.49. O-I Glass has a 12-month low of $7.75 and a 12-month high of $16.91.

O-I Glass (NYSE:OI) last released its earnings results on Tuesday, April 28th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.04). The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.47 billion. O-I Glass had a negative net margin of 2.91% and a positive return on equity of 13.65%. The business’s revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.40 earnings per share. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. As a group, sell-side analysts expect that O-I Glass will post 1.2 earnings per share for the current year.

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.