O-I Glass: A Risky Bet or a Golden Opportunity?

O-I Glass: A Risky Bet or a Golden Opportunity?

There was a significant surge in options trading for O-I Glass Inc. on Wednesday, with investors purchasing 2,354 call options on the stock, a 3,039% increase compared to the typical volume. Several institutional investors have increased their stakes in the company, including Vanguard Group Inc. and State Street Corp. O-I Glass (NYE:OI) reported earnings per share of $0.38 for the quarter, beating the consensus estimate of $0.32. Analysts anticipate the company will post earnings per share of 2.51 for the current fiscal year. Several equities analysts have raised their price targets for the stock, with a consensus rating of “Buy” and an average price target of $23.50.

Summary of Analysts’ Opinions

According to the report, several institutional investors have increased their stakes in O-I Glass recently, including Vanguard Group and State Street Corp. Great West Life Assurance Co. and Dimensional Fund Advisors LP have also acquired new positions in the company. These moves suggest growing investor confidence in O-I Glass, which has a market capitalization of $3.50 billion and a price-to-earnings ratio of 6.14. Additionally, the company beat earnings expectations in its most recent quarter, reporting earnings per share of $0.38 compared to the consensus estimate of $0.32. This positive news has prompted several equities analysts to upgrade their ratings and increase their price targets for the stock.

OI Ratings by Stock Target Advisor

O-I Glass Stock Forecast

The consensus among 13 analysts is that O-I Glass Inc’s stock will have an average target price of USD 21.56 over the next 12 months, with an average rating of Buy. According to Stock Target Advisor’s analysis, there are 6 positive signals and 11 negative signals, resulting in a Slightly Bearish outlook. O-I Glass Inc’s stock price closed at USD 22.52, reflecting a +3.16% change over the past week, a -3.92% change over the past month, and a +78.31% change over the last year.

OI Ratings by Stock Target Advisor

Company Synopsis

O-I Glass, Inc. is a global manufacturer and seller of glass containers for food and beverage manufacturers worldwide. They specialize in producing glass containers for alcoholic beverages, such as beer, spirits, and wine, as well as glass packaging for various food items, soft drinks, tea, juices, and pharmaceuticals. The company offers glass containers in different sizes, shapes, and colors and sells them directly to customers or through distributors under supply agreements. O-I Glass was established in 1903 and is headquartered in Perrysburg, Ohio.

Top Trending Stocks

AVG Analyst Rating STA Analysis
StockTargetAdvisor
Strong Buy
N/A
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Slightly Bullish
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Very Bullish
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Neutral
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Bullish
N/A
StockTargetAdvisor
Slightly Bearish
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Slightly Bullish
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Slightly Bullish
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Slightly Bullish
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Slightly Bullish
Ad
Ad

Leave a Reply

Your email address will not be published. Required fields are marked *