O-I Glass (NYSE:OI) Receives Buy Rating from Truist Financial

Truist Financial reaffirmed their buy rating on shares of O-I Glass (NYSE:OI) in a research report released on Thursday, MarketBeat.com reports. The firm currently has a $14.00 target price on the industrial products company’s stock, down from their prior target price of $15.00.

OI has been the subject of a number of other reports. Wells Fargo & Company cut O-I Glass from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $18.00 to $13.00 in a research note on Friday, March 20th. Robert W. Baird set a $20.00 price target on O-I Glass in a research note on Thursday, February 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of O-I Glass in a research note on Tuesday, April 21st. Wall Street Zen cut O-I Glass from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Citigroup decreased their price target on O-I Glass from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $15.56.

O-I Glass Trading Up 5.7%

Shares of NYSE OI opened at $9.15 on Thursday. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.26 and a quick ratio of 0.77. The stock has a market capitalization of $1.40 billion, a P/E ratio of -7.50, a price-to-earnings-growth ratio of 0.95 and a beta of 0.84. O-I Glass has a 1-year low of $8.00 and a 1-year high of $16.91. The business has a fifty day moving average price of $11.14 and a 200 day moving average price of $13.12.

O-I Glass (NYSE:OI) last issued its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.47 billion. O-I Glass had a positive return on equity of 13.65% and a negative net margin of 2.91%.The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 earnings per share. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. Equities research analysts expect that O-I Glass will post 1.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Barnett & Company Inc. purchased a new position in shares of O-I Glass in the first quarter worth about $458,000. Lee Danner & Bass Inc. raised its stake in shares of O-I Glass by 4.4% in the first quarter. Lee Danner & Bass Inc. now owns 98,747 shares of the industrial products company’s stock worth $1,038,000 after purchasing an additional 4,191 shares during the last quarter. Y Intercept Hong Kong Ltd raised its stake in shares of O-I Glass by 222.9% in the first quarter. Y Intercept Hong Kong Ltd now owns 187,346 shares of the industrial products company’s stock worth $1,969,000 after purchasing an additional 129,331 shares during the last quarter. Strs Ohio raised its stake in shares of O-I Glass by 3.9% in the first quarter. Strs Ohio now owns 63,800 shares of the industrial products company’s stock worth $671,000 after purchasing an additional 2,400 shares during the last quarter. Finally, Inspire Investing LLC raised its stake in shares of O-I Glass by 62,878.5% in the first quarter. Inspire Investing LLC now owns 49,753 shares of the industrial products company’s stock worth $523,000 after purchasing an additional 49,674 shares during the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

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.