O-I Glass (NYSE:OI) Shares Up 5.4%

Shares of O-I Glass, Inc. (NYSE:OI - Get Free Report) shot up 5.4% during mid-day trading on Wednesday . The stock traded as high as $12.99 and last traded at $12.97. 345,727 shares traded hands during trading, a decline of 80% from the average session volume of 1,748,704 shares. The stock had previously closed at $12.31.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on OI shares. Truist Financial restated a "buy" rating and set a $16.00 target price (down previously from $17.00) on shares of O-I Glass in a research report on Thursday, August 1st. Citigroup lowered their target price on O-I Glass from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Monday, July 8th. Barclays cut their price target on O-I Glass from $15.00 to $14.00 and set an "equal weight" rating for the company in a report on Thursday, August 1st. Wells Fargo & Company decreased their price objective on O-I Glass from $19.00 to $18.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 17th. Finally, Royal Bank of Canada cut their target price on shares of O-I Glass from $20.00 to $18.00 and set an "outperform" rating for the company in a research note on Monday, August 5th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, O-I Glass currently has an average rating of "Moderate Buy" and a consensus target price of $16.89.

O-I Glass Stock Up 1.2 %

The company has a debt-to-equity ratio of 2.85, a current ratio of 1.26 and a quick ratio of 0.75. The company has a market cap of $1.94 billion, a price-to-earnings ratio of -7.83, a price-to-earnings-growth ratio of 1.83 and a beta of 1.17. The firm's 50-day moving average price is $11.66 and its 200-day moving average price is $13.46.

O-I Glass (NYSE:OI - Get Free Report) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. The company's revenue was down 8.5% on a year-over-year basis. During the same period last year, the business posted $0.88 EPS. Sell-side analysts forecast that O-I Glass, Inc. will post 1.13 earnings per share for the current fiscal year.

Insider Activity

In other O-I Glass news, Director John Humphrey bought 15,000 shares of O-I Glass stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $11.30 per share, for a total transaction of $169,500.00. Following the completion of the acquisition, the director now directly owns 84,227 shares of the company's stock, valued at $951,765.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.49% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Thompson Investment Management Inc. boosted its position in O-I Glass by 84.2% during the 1st quarter. Thompson Investment Management Inc. now owns 393,883 shares of the industrial products company's stock worth $6,535,000 after acquiring an additional 180,093 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of O-I Glass during the first quarter worth $1,021,000. Duality Advisers LP acquired a new stake in O-I Glass during the 1st quarter worth approximately $1,554,000. Norges Bank bought a new position in O-I Glass during the 4th quarter worth $27,562,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of O-I Glass by 8.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,474,863 shares of the industrial products company's stock worth $24,158,000 after acquiring an additional 115,728 shares during the period. Institutional investors and hedge funds own 97.24% of the company's stock.

About O-I Glass

O-I Glass, Inc, through its subsidiaries, engages in the manufacture and sale of glass containers to food and beverage manufacturers primarily in the Americas, Europe, and internationally. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.