Shares of O-I Glass Inc. (NYSE:OI) traded at a new 52-week high today of $18.17. Approximately 372,000 shares have changed hands today, as compared to an average 30-day volume of 2.7 million shares.
O-I Glass Inc is the world’s largest manufacturer of glass bottles–70% of its revenue comes from outside the United States. O-I has a market- leading position in key markets like Europe, North America, and Brazil, among others. Beer is the primary end market for O-I’s glass bottles, which are also used for wine, soda, spirits, condiments, and food. In the coming years, O-I is looking to maintain or expand its dominant positions in Europe, North America, and South America.
In the past 52 weeks, O-I Glass Inc. share prices are bracketed by a low of $5.76 and a high of $18.17 and is now at $18.12, 215% above that low price.
Potential upside of 146.4% exists for O-I Glass Inc., based on a current level of $18.12 and analysts’ average consensus price target of $44.64.
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