O-I Glass (OI) is a Great Momentum Stock: Should You Buy?

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: O-I Glass (OI) - O-I Glass currently holds a Momentum Style Score of B, indicating potential as a solid momentum pick [3] - The company has a Zacks Rank of 2 (Buy), which is associated with strong historical performance [4] Performance Metrics - O-I Glass shares have increased by 7.14% over the past week, significantly outperforming the Zacks Glass Products industry, which rose by only 0.15% [6] - Over the past month, O-I Glass has shown a price change of 17.13%, matching the industry's performance [6] - In the last quarter, shares of O-I Glass increased by 17.67%, and over the past year, they gained 35.53%, while the S&P 500 only moved 4% and 14.09%, respectively [7] Trading Volume - The average 20-day trading volume for O-I Glass is 2,362,136 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - Recent earnings estimates for O-I Glass have shown positive revisions, with four estimates moving higher and none lower, increasing the consensus estimate from $1.47 to $1.60 over the past 60 days [10] - For the next fiscal year, two estimates have also moved upwards, with no downward revisions [10] Conclusion - Considering the positive performance metrics and earnings outlook, O-I Glass is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a strong candidate for near-term investment [12]