O-I Glass, Inc. (NYSE:OI) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

O-I Glass, Inc. (NYSE:OI) has been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $17.8750.

A number of brokerages have recently issued reports on OI. Wall Street Zen lowered shares of O-I Glass from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 28th. Bank of America upgraded shares of O-I Glass from a “neutral” rating to a “buy” rating and upped their price target for the company from $14.00 to $17.00 in a research report on Monday, November 17th. Truist Financial raised their price objective on O-I Glass from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Zacks Research raised O-I Glass from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of O-I Glass in a research report on Thursday, January 22nd.

O-I Glass Price Performance

Shares of O-I Glass stock opened at $15.26 on Friday. The firm has a market capitalization of $2.34 billion, a PE ratio of -16.23, a price-to-earnings-growth ratio of 0.18 and a beta of 0.77. The company has a current ratio of 1.33, a quick ratio of 0.84 and a debt-to-equity ratio of 3.36. O-I Glass has a 12 month low of $9.23 and a 12 month high of $16.04. The business’s 50-day moving average price is $14.79 and its 200-day moving average price is $13.60.

O-I Glass (NYSE:OI) last released its earnings results on Tuesday, November 4th. The industrial products company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.66 billion. O-I Glass had a positive return on equity of 16.02% and a negative net margin of 2.26%.During the same quarter in the previous year, the company posted ($0.04) EPS. O-I Glass’s quarterly revenue was down 1.5% compared to the same quarter last year. O-I Glass has set its FY 2025 guidance at 1.550-1.650 EPS. Sell-side analysts forecast that O-I Glass will post 1.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in OI. Farther Finance Advisors LLC raised its holdings 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 buying an additional 830 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of O-I Glass in the second quarter valued at about $29,000. State of Wyoming bought a new position in shares of O-I Glass during the second quarter valued at about $35,000. 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 worth $35,000 after purchasing an additional 918 shares during the period. Finally, First Horizon Corp grew its stake in shares of O-I Glass by 2,125.5% in the fourth quarter. First Horizon Corp now owns 3,227 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 3,082 shares during the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.

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.