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

O-I Glass, Inc. (NYSE:OI) was the recipient of some unusual options trading activity on Wednesday. Stock traders acquired 2,354 call options on the company. This is an increase of 3,039% compared to the typical daily volume of 75 call options.

Analysts Set New Price Targets

Several equities research analysts have recently commented on OI shares. Citigroup decreased their target price on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company decreased their price objective on O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $16.00 price objective on shares of O-I Glass in a research note on Monday. Finally, Bank of America lifted their target price on O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.38.

O-I Glass Stock Performance

OI stock opened at $12.18 on Thursday. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. The firm has a market cap of $1.88 billion, a PE ratio of -17.16, a P/E/G ratio of 0.24 and a beta of 1.20. The business has a 50 day moving average of $11.29 and a 200-day moving average of $11.87. O-I Glass has a 12-month low of $9.85 and a 12-month high of $17.58.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. As a group, sell-side analysts expect that O-I Glass will post 1.33 earnings per share for the current year.

Institutional Trading of O-I Glass

A number of large investors have recently added to or reduced their stakes in OI. R Squared Ltd purchased a new stake in O-I Glass in the fourth quarter worth $45,000. Sterling Capital Management LLC raised its stake in O-I Glass by 807.2% in the 4th quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 4,343 shares during the period. KBC Group NV lifted its holdings in O-I Glass by 38.9% during the third quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 1,521 shares during the last quarter. Quest Partners LLC bought a new position in O-I Glass during the third quarter worth about $77,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of O-I Glass in the fourth quarter worth about $86,000. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Company Profile

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.