O-I Glass Inc. (NYSE:OI) finished Friday with a subtraction of -$0.28 to close at $19.95, a downside of -1.38 percent. An average of 801,220 shares of common stock have been traded in the last five days. There was a gain of $0.39 in the past week, and it reached a new high 19 times over the past 12 months. The last 20 days have seen an average of 997,635 shares traded, while the 50-day average volume stands at 1,015,926.
OI stock has decreased by -11.69% in the last month. The company shares reached their 1-month lowest point of $19.39 on 08/08/23. With the stock rallying to its 52-week high on 07/25/23, shares of the company touched a low of $12.05 and a high of $23.57 in 52 weeks. It has reached a new high 9 times so far this year and achieved 20.40% or $3.38 in price. In spite of this, the price is down -15.36% from the 52-week high.
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Insider Transactions
OI stock investors should be aware that O-I Glass Inc. (OI) stock had its last reported insider trading activity 66 days ago on Jun 07. In this transaction, the insider spent $1,715,756. President & CEO, Lopez Andres Alberto, disposed of 59,174 shares at a price of $22.02 on Jun 06. The insider now owns more than $1,303,130 worth of shares. Prior to that, President, Bus Ops & OI Europe Torno Vitaliano went on to Sale 17,299 shares at $22.22 each on Feb 07. An amount of $384,306 was transacted.
Valuation Metrics
O-I Glass Inc. (OI) has a trailing price-to-earnings (P/E) ratio of 4.52. The stock’s beta is 1.38. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.47, the price-to-book (PB) ratio at 1.74.
Financial Health
The quick ratio of O-I Glass Inc. for the three months ended June 29 was 0.80, and the current ratio was 1.20, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 2.50 and a total debt to equity ratio of 2.69 for the quarter ending June 29. O-I Glass Inc.’s EBITDA margin for the year ending June 29 is 14.67%, while its operating margin for the same period stands at 16.40%. Its gross profit as reported stood at $1.21 billion compared to revenue of $6.86 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, O-I Glass Inc.’s return on assets was 7.80%.
Earnings Surprise
For the three-month period that ended June 29, O-I Glass Inc. had $4.78 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $110.0 million in the quarter, while revenues were shrunk -129.09%. The analyst consensus anticipated O-I Glass Inc.’s latest quarter earnings to come in at $0.83 per share, but it turned out to be $0.88, a 6.00% surprise. For the quarter, EBITDA amounted to $375.0 million. Shareholders own equity worth $155.06 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at O-I Glass Inc. (OI) price momentum. RSI 9-day as of the close on 11 August was 34.92%, suggesting the stock is Neutral, with historical volatility in this time frame at 68.15%.
As of today, OI’s price is $20.05 +1.99% or $0.39 from its 5-day moving average. OI is currently trading -12.04% lower than its 20-day SMA and -8.15% lower than its 100-day SMA. However, the stock’s current price level is -3.72% below the SMA50 and +18.82% above the SMA200.
The stochastic %K and %D were 15.69% and 15.87%, respectively, and the average true range (ATR) was 0.74. With the 14-day stochastic at 13.46% and the average true range at 0.72, the RSI (14) stands at 37.96%. The stock has reached -0.29 on the 9-day MACD Oscillator while the 14-day reading was at -1.28.
Analyst Ratings
RBC Capital Mkts upgraded O-I Glass Inc. (NYSE: OI) to a an Outperform rating in its most recent analyst report. Previously, the stock was rated as a Sector perform. The consensus rating for O-I Glass Inc. (OI) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell OI, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 3 analysts, while 5 others rate it as a “buy”.
What is OI’s price target for the next 12 months?
Analysts predict a range of price targets between $19.00 and $32.00, with a median target of $28.00. Taking a look at these predictions, the average price target given by analysts for O-I Glass Inc. (OI) stock is $26.50.
