O-I Glass Sees Unusually Large Options Volume (NYSE:OI)

O-I Glass, Inc. (NYSE:OI) was the recipient of unusually large options trading on Wednesday. Traders purchased 2,354 call options on the company. This represents an increase of 3,039% compared to the average volume of 75 call options.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on OI shares. Bank of America upgraded shares of O-I Glass from a “neutral” rating to a “buy” rating and boosted their target price for the company from $14.00 to $17.00 in a research report on Monday, November 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $19.00 price target on shares of O-I Glass in a research note on Thursday, January 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of O-I Glass in a research report on Thursday, January 22nd. Wells Fargo & Company raised O-I Glass from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $15.00 to $18.00 in a research report on Tuesday, January 6th. Finally, Wall Street Zen downgraded O-I Glass from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, O-I Glass presently has a consensus rating of “Moderate Buy” and an average target price of $17.88.

Hedge Funds Weigh In On O-I Glass

Several large investors have recently bought and sold shares of OI. Farther Finance Advisors LLC grew its stake in shares of O-I Glass by 87.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 830 shares in the last quarter. Teacher Retirement System of Texas grew its position in O-I Glass by 3.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 23,495 shares of the industrial products company’s stock worth $346,000 after purchasing an additional 879 shares in the last quarter. Smartleaf Asset Management LLC grew its position in O-I Glass by 64.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 918 shares in the last quarter. State of Alaska Department of Revenue increased its stake in O-I Glass by 1.2% in the 4th quarter. State of Alaska Department of Revenue now owns 84,929 shares of the industrial products company’s stock valued at $1,253,000 after buying an additional 975 shares during the last quarter. Finally, KLP Kapitalforvaltning AS lifted its position in shares of O-I Glass by 3.1% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 33,600 shares of the industrial products company’s stock worth $495,000 after buying an additional 1,000 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors.

O-I Glass Price Performance

Shares of NYSE OI opened at $16.57 on Thursday. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of -17.63, a PEG ratio of 0.19 and a beta of 0.78. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.84 and a current ratio of 1.33. O-I Glass has a fifty-two week low of $9.23 and a fifty-two week high of $16.63. The firm’s 50-day simple moving average is $15.00 and its 200 day simple moving average is $13.63.

O-I Glass (NYSE:OI) last issued its quarterly earnings data on Tuesday, November 4th. The industrial products company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.44 by $0.04. O-I Glass had a positive return on equity of 16.02% and a negative net margin of 2.26%.The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the business posted ($0.04) earnings per share. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, research analysts anticipate that O-I Glass will post 1.33 earnings per share for the current fiscal year.

O-I Glass Company Profile

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.