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

O-I Glass, Inc. (NYSE:OI) was the target of unusually large options trading activity on Wednesday. Stock investors bought 2,354 call options on the company. This represents an increase of 3,039% compared to the typical daily volume of 75 call options.

Wall Street Analysts Forecast Growth

OI has been the subject of a number of research reports. Truist Financial reiterated a “buy” rating and issued a $16.00 price target (down previously from $17.00) on shares of O-I Glass in a report on Thursday, August 1st. Citigroup upped their target price on O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. StockNews.com upgraded O-I Glass from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $16.00 in a research note on Thursday, October 17th. Finally, Robert W. Baird dropped their target price on shares of O-I Glass from $22.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, O-I Glass presently has an average rating of “Moderate Buy” and an average price target of $16.25.

Institutional Investors Weigh In On O-I Glass

Several institutional investors have recently added to or reduced their stakes in OI. Segall Bryant & Hamill LLC acquired a new stake in shares of O-I Glass during the third quarter worth $32,350,000. Highland Peak Capital LLC acquired a new stake in O-I Glass during the 3rd quarter worth about $27,132,000. Levin Capital Strategies L.P. lifted its position in O-I Glass by 25.0% during the 2nd quarter. Levin Capital Strategies L.P. now owns 3,511,413 shares of the industrial products company’s stock worth $39,082,000 after acquiring an additional 703,308 shares during the period. Dimensional Fund Advisors LP grew its stake in O-I Glass by 8.8% during the 2nd 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. increased its holdings in shares of O-I Glass by 20.8% in 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 period. Institutional investors and hedge funds own 97.24% of the company’s stock.

O-I Glass Trading Up 0.7 %

NYSE OI opened at $12.69 on Thursday. The firm has a market cap of $1.96 billion, a PE ratio of -4.60 and a beta of 1.20. O-I Glass has a 52 week low of $10.08 and a 52 week high of $17.58. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18. The company has a 50 day moving average price of $12.71 and a 200 day moving average price of $12.22.

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

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.