Truist Financial Cuts O-I Glass (NYSE:OI) Price Target to $13.00

O-I Glass (NYSE:OI) had its target price trimmed by Truist Financial from $14.00 to $13.00 in a report released on Wednesday morning, MarketBeat Ratings reports. They currently have a buy rating on the industrial products company’s stock.

OI has been the subject of several other reports. Wells Fargo & Company cut their price objective on shares of O-I Glass from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Wednesday. Citigroup decreased their target price on O-I Glass from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Weiss Ratings lowered O-I Glass from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 30th. UBS Group dropped their price target on O-I Glass from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, April 10th. Finally, Bank of America reissued an “underperform” rating and set a $11.00 price target on shares of O-I Glass in a report on Tuesday. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, O-I Glass has a consensus rating of “Hold” and a consensus price target of $13.57.

O-I Glass Price Performance

Shares of OI opened at $9.11 on Wednesday. The firm has a market capitalization of $1.40 billion, a PE ratio of -7.47, a PEG ratio of 1.16 and a beta of 0.62. The company’s 50-day moving average is $9.03 and its 200-day moving average is $11.51. O-I Glass has a fifty-two week low of $7.75 and a fifty-two week high of $16.91. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.26 and a quick ratio of 0.73.

O-I Glass (NYSE:OI) last posted its earnings results on Tuesday, April 28th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). O-I Glass had a positive return on equity of 13.65% and a negative net margin of 2.91%.The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the business posted $0.40 EPS. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. Equities analysts forecast that O-I Glass will post 1.14 EPS for the current year.

Insiders Place Their Bets

In other O-I Glass news, SVP Eduardo Restrepo acquired 3,309 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was acquired at an average price of $8.98 per share, for a total transaction of $29,714.82. Following the purchase, the senior vice president directly owned 94,199 shares of the company’s stock, valued at $845,907.02. This trade represents a 3.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Darrow A. Abrahams acquired 2,774 shares of the business’s 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 acquisition, the senior vice president directly 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 disclosure for this purchase is available in the SEC filing. Insiders acquired 17,083 shares of company stock worth $157,312 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On O-I Glass

Hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its position in O-I Glass by 87.6% during the fourth quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock worth $26,000 after buying an additional 830 shares in the last quarter. Headlands Technologies LLC bought a new position in O-I Glass during the 2nd quarter worth $29,000. Quarry LP acquired a new position in O-I Glass in the 4th quarter valued at $32,000. Caitong International Asset Management Co. Ltd raised its holdings in O-I Glass by 36,533.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 2,192 shares in the last quarter. Finally, State of Wyoming bought a new stake in shares of O-I Glass during the 2nd quarter valued at $35,000. 97.24% of the stock is currently owned by institutional investors and hedge funds.

About O-I Glass

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.