O-I Glass Target of Unusually High Options Trading (NYSE:OI)

O-I Glass, Inc. (NYSE:OI) was the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 2,354 call options on the stock. This is an increase of approximately 3,039% compared to the average volume of 75 call options.

O-I Glass Trading Up 0.7 %

Shares of OI opened at $12.69 on Friday. The firm has a fifty day simple moving average of $12.69 and a two-hundred day simple moving average of $12.23. O-I Glass has a twelve month low of $10.08 and a twelve month high of $17.58. The stock has a market capitalization of $1.96 billion, a P/E ratio of -4.60 and a beta of 1.20. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18.

O-I Glass (NYSE:OI) last posted its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the company posted $0.80 earnings per share. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, research analysts anticipate that O-I Glass will post 0.76 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on OI shares. Bank of America upgraded O-I Glass from a “neutral” rating to a “buy” rating and lifted their price target for the company from $14.00 to $16.00 in a research report on Thursday, October 17th. Robert W. Baird decreased their price objective on O-I Glass from $22.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Truist Financial reiterated a “buy” rating and set a $16.00 price target (down from $17.00) on shares of O-I Glass in a research report on Thursday, August 1st. Citigroup boosted their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Barclays decreased their target price on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, O-I Glass presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.25.

Institutional Trading of O-I Glass

Several large investors have recently bought and sold shares of the company. Segall Bryant & Hamill LLC bought a new stake in shares of O-I Glass during the 3rd quarter valued at $32,350,000. Highland Peak Capital LLC purchased a new stake in O-I Glass in the third quarter worth about $27,132,000. Levin Capital Strategies L.P. increased its stake in shares of O-I Glass by 25.0% during the second quarter. Levin Capital Strategies L.P. now owns 3,511,413 shares of the industrial products company’s stock valued at $39,082,000 after purchasing an additional 703,308 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of O-I Glass by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,093,723 shares of the industrial products company’s stock valued at $78,952,000 after purchasing an additional 573,300 shares during the last quarter. Finally, Private Management Group Inc. lifted its holdings in shares of O-I Glass by 20.8% during the third quarter. Private Management Group Inc. now owns 3,025,731 shares of the industrial products company’s stock valued at $39,698,000 after purchasing an additional 520,452 shares during the last quarter. 97.24% of the stock is owned by institutional investors.

About O-I Glass

O-I Glass, Inc, through its subsidiaries, engages in the manufacture and sale of glass containers to food and beverage manufacturers primarily in the Americas, Europe, and internationally. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.