O-I Glass (NYSE:OI) Hits New 1-Year High – What’s Next?

O-I Glass, Inc. (NYSE:OI)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $16.09 and last traded at $15.91, with a volume of 398515 shares. The stock had previously closed at $15.60.

Analysts Set New Price Targets

OI has been the topic of several analyst reports. Zacks Research raised shares of O-I Glass from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 2nd. Truist Financial raised their price target on shares of O-I Glass from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of O-I Glass in a research note on Thursday, January 22nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $19.00 target price on shares of O-I Glass in a research report on Thursday, January 15th. Finally, Citigroup upped their price objective on O-I Glass from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, January 6th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, O-I Glass currently has an average rating of “Moderate Buy” and an average target price of $17.88.

O-I Glass Trading Up 0.4%

The firm has a 50 day simple moving average of $14.89 and a 200 day simple moving average of $13.60. The firm has a market cap of $2.41 billion, a P/E ratio of -16.67, a P/E/G ratio of 0.19 and a beta of 0.78. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.84 and a current ratio of 1.33.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, November 4th. The industrial products company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.44 by $0.04. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.66 billion. O-I Glass had a positive return on equity of 16.02% and a negative net margin of 2.26%.The company’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.04) EPS. On average, equities research analysts predict that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

Institutional Trading of O-I Glass

Several large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its holdings in O-I Glass by 33.9% in the 1st quarter. Royal Bank of Canada now owns 112,800 shares of the industrial products company’s stock worth $1,294,000 after buying an additional 28,548 shares during the period. AQR Capital Management LLC boosted its position in shares of O-I Glass by 154.0% during the 1st quarter. AQR Capital Management LLC now owns 177,117 shares of the industrial products company’s stock valued at $1,993,000 after acquiring an additional 107,388 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in O-I Glass by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,151 shares of the industrial products company’s stock worth $1,057,000 after purchasing an additional 4,055 shares during the last quarter. United Services Automobile Association purchased a new position in O-I Glass in the first quarter worth about $119,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of O-I Glass by 43.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 526,279 shares of the industrial products company’s stock worth $6,036,000 after purchasing an additional 160,649 shares during the period. 97.24% of the stock is currently owned by 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.