O-I Glass (NYSE:OI) Stock Price Passes Above 200 Day Moving Average – Here’s Why

O-I Glass, Inc. (NYSE:OI)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $13.60 and traded as high as $15.34. O-I Glass shares last traded at $15.2560, with a volume of 1,185,802 shares.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Citigroup boosted their price target on shares of O-I Glass from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, January 6th. Bank of America upgraded O-I Glass from a “neutral” rating to a “buy” rating and upped their target price for the stock from $14.00 to $17.00 in a report on Monday, November 17th. Truist Financial lifted their price target on O-I Glass from $17.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Wells Fargo & Company raised O-I Glass from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $15.00 to $18.00 in a research report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of O-I Glass in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.88.

O-I Glass Trading Up 0.0%

The stock has a market cap of $2.35 billion, a PE ratio of -16.25, a price-to-earnings-growth ratio of 0.19 and a beta of 0.77. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.84 and a current ratio of 1.33. The company has a 50 day moving average of $14.83 and a two-hundred day moving average of $13.60.

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

Institutional Trading of O-I Glass

Hedge funds and other institutional investors have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of O-I Glass by 2.6% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 235,463 shares of the industrial products company’s stock worth $3,475,000 after acquiring an additional 6,019 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in O-I Glass by 20.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 54,157 shares of the industrial products company’s stock worth $799,000 after purchasing an additional 9,368 shares during the last quarter. First Horizon Corp raised its stake in O-I Glass by 2,125.5% during 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 period. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in O-I Glass by 42.1% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,026,525 shares of the industrial products company’s stock valued at $29,912,000 after purchasing an additional 600,462 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of O-I Glass by 87.6% in 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 period. 97.24% of the stock is owned by institutional investors and hedge funds.

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.