O-I Glass, Inc. (NYSE:OI) Receives Consensus Rating of “Hold” from Brokerages

Shares of O-I Glass, Inc. (NYSE:OI) have been assigned an average recommendation of “Hold” from the nine research firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $15.50.

A number of equities analysts have recently commented on the company. Royal Bank Of Canada set a $14.00 price target on O-I Glass in a report on Friday, April 17th. Truist Financial reaffirmed a “buy” rating and issued a $14.00 price target (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 research note on Tuesday, March 3rd. Robert W. Baird set a $20.00 target price on O-I Glass in a research report on Thursday, February 12th. Finally, Wells Fargo & Company cut O-I Glass from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $18.00 to $13.00 in a research report on Friday, March 20th.

Insider Buying and Selling

In other O-I Glass news, SVP Darrow A. Abrahams bought 2,774 shares of O-I Glass stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average cost of $9.04 per share, for a total transaction of $25,076.96. Following the completion of the transaction, the senior vice president directly owned 235,928 shares in the company, valued at $2,132,789.12. This represents a 1.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Randolph L. Burns bought 11,000 shares of O-I Glass stock in a transaction that occurred on Friday, May 8th. The shares were acquired at an average price of $9.32 per share, with a total value of $102,520.00. Following the completion of the transaction, the senior vice president owned 133,932 shares of the company’s stock, valued at $1,248,246.24. This represents a 8.95% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 17,083 shares of company stock worth $157,312 over the last ninety days. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On O-I Glass

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in O-I Glass by 3.7% during the third quarter. Vanguard Group Inc. now owns 19,349,218 shares of the industrial products company’s stock worth $250,959,000 after buying an additional 691,989 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in O-I Glass by 8.6% during the first quarter. Dimensional Fund Advisors LP now owns 9,238,635 shares of the industrial products company’s stock worth $97,094,000 after purchasing an additional 729,191 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of O-I Glass by 0.7% in the 3rd quarter. Alliancebernstein L.P. now owns 7,996,786 shares of the industrial products company’s stock worth $103,718,000 after purchasing an additional 56,945 shares in the last quarter. Cooper Creek Partners Management LLC boosted its holdings in shares of O-I Glass by 73.8% in the 1st quarter. Cooper Creek Partners Management LLC now owns 7,006,293 shares of the industrial products company’s stock worth $73,636,000 after purchasing an additional 2,975,181 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of O-I Glass by 32.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,246,337 shares of the industrial products company’s stock worth $44,629,000 after purchasing an additional 1,030,705 shares in the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

O-I Glass Price Performance

O-I Glass stock opened at $7.97 on Thursday. O-I Glass has a one year low of $7.91 and a one year high of $16.91. The business has a fifty day moving average price of $9.71 and a 200-day moving average price of $12.59. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.26 and a quick ratio of 0.73. The firm has a market capitalization of $1.22 billion, a P/E ratio of -6.53, a PEG ratio of 0.92 and a beta of 0.63.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.05 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 during the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the business earned $0.40 earnings per share. O-I Glass’s revenue was down 1.7% on a year-over-year basis. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. As a group, equities research analysts forecast that O-I Glass will post 1.2 EPS for the current year.

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.