The stock of O-I Glass Inc. (NYSE:OI) increased by $0.27 on Tuesday to finish at $18.22, up 1.50 percent. The last five days have seen an average of 2,039,880 shares of common stock traded. 9 times new highs were reached in the current year, with a gain of $1.65. The average number of shares traded over the last 20 days was 1,057,770, while the average volume over the last 50 days totaled 1,003,954.
OI stock dropped -5.15% since last month. On 09/13/23, the company’s shares reached a one-month low of $17.90. The stock touched a high of $23.57 on 07/25/23, after rallying from a low of $12.05 in 52 weeks. The price of OI stock has risen by 9.96% or $1.65 this year, reaching a new high 9 times. Still, the stock price is down -22.70% from the 52-week high.
Insider Transactions
OI stock investors should be aware that O-I Glass Inc. (OI) stock had its last reported insider trading activity 105 days ago on Jun 07. On Jun 07, President & CEO Lopez Andres Alberto sold 76,132 shares at $22.54 each. This transaction resulted in the insider making $1,715,756. On Jun 06, Lopez Andres Alberto sold 59,174 shares at a price of US$22.02. After the transaction, the insider now owns 1,113,101 shares. President, Bus Ops & OI Europe Torno Vitaliano had earlier sold 17,299 shares on Feb 07 for $22.22 a share. The transaction was completed for $384,306.
Valuation Metrics
O-I Glass Inc. (OI) has a trailing price-to-earnings (P/E) ratio of 5.18. Beta for the stock is 1.39. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.40, the price-to-book (PB) ratio of 1.40.
Company paid $0.05 per share in dividends, remained unchanged from $0.05 last year.
Financial Health
For the three months ended June 29, O-I Glass Inc.’s quick ratio was 0.90, while its current ratio was 1.40, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 2.36, and the total debt to equity ratio is 2.48. As far as profitability goes, gross margin for the trailing twelve months is 20.90% percent. O-I Glass Inc.’s EBITDA margin for the year ended June 29 was 14.67%, whereas its operating margin stood at 14.70% for the same period. Based on annual data, it had gross profit of $1.21 billion and revenue of $6.86 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. OI’s return on assets (ROA) during the last 12 months has been 6.00%. There was a 14.10% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 34.20%.
Earnings Surprise
According to O-I Glass Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.89 billion, while revenues rose by 5.93% to $1.83 billion. It was predicted that O-I Glass Inc.’s quarterly earnings would be $0.88, but it ended up being $0.83, beating the consensus by 6.00%. EBITDA was $375.0 million for the quarter. At the end of O-I Glass Inc.’s most recent quarter ended June 29, its liabilities totaled 7.77 billion, while its total debt was $5.02 billion. Equity owned by shareholders amounts to $155.06 million.
Technical Picture
Here’s a quick look at O-I Glass Inc.’s (OI) price momentum from a technical perspective. As of 19 September, the RSI 9-day stood at 36.31%, suggesting the stock is Neutral, with a 24.20% historical volatility rate.
The stochastic %K and %D were 11.06% and 12.78% respectively, while the average true range (ATR) was 0.48. Based on the 14-day stochastic reading of 13.57%, the RSI (14) reading is 36.45%. On the 9-day MACD Oscillator, the stock is at -0.22, and the 14-day reading is at -0.71.
Analyst Ratings
O-I Glass Inc. (NYSE: OI) was downgraded by Credit Suisse to a a Neutral rating in its latest research report. The stock was previously rated as a an Outperform. Analysts have assigned O-I Glass Inc. (OI) an Overweight rating. OI is a stock that is recommended for selling by 1 brokerage firm, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 3 rates it overweight and 5 others recommend it as a buy.
What is OI’s price target for the next 12 months?
The current consensus forecast for the stock is between $19.00 and $32.00, with a median target price of $28.00. In analyzing these forecasts, the average price target given by analysts for O-I Glass Inc. (OI) is $26.50.
