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

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Bank of America raised their price target on O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday. Citigroup lowered their price target on O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday. Barclays cut their price objective on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Royal Bank of Canada dropped their target price on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, O-I Glass presently has an average rating of “Moderate Buy” and a consensus target price of $15.38.

O-I Glass Trading Down 2.0 %

Shares of OI opened at $10.47 on Friday. The stock has a market capitalization of $1.62 billion, a PE ratio of -3.79 and a beta of 1.21. The company’s fifty day moving average is $11.69 and its 200 day moving average is $11.96. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.77 and a current ratio of 1.23. O-I Glass has a fifty-two week low of $9.85 and a fifty-two week high of $17.58.

O-I Glass (NYSE:OI) last announced its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.08). O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The business 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 firm’s quarterly revenue was down 3.7% compared to the same quarter last year. Sell-side analysts expect that O-I Glass will post 0.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On O-I Glass

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

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.