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

O-I Glass, Inc. (NYSE:OI) saw some unusual options trading activity on Wednesday. Traders acquired 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 Analysts Forecast Growth

A number of equities analysts have weighed in on OI shares. UBS Group assumed coverage on shares of O-I Glass in a research report on Tuesday, January 16th. They issued a “buy” rating and a $26.00 price objective for the company. Barclays increased their price target on shares of O-I Glass from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 13th. TheStreet cut shares of O-I Glass from a “b-” rating to a “c-” rating in a research report on Tuesday, February 6th. StockNews.com cut shares of O-I Glass from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Finally, Citigroup cut shares of O-I Glass from a “buy” rating to a “neutral” rating and increased their price target for the stock from $17.00 to $18.00 in a research report on Wednesday, January 3rd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.00.

O-I Glass Price Performance

Shares of NYSE:OI opened at $15.09 on Thursday. The firm’s 50 day moving average is $16.19 and its two-hundred day moving average is $15.66. O-I Glass has a 52 week low of $13.56 and a 52 week high of $23.57. The firm has a market capitalization of $2.35 billion, a P/E ratio of -20.12, a PEG ratio of 1.05 and a beta of 1.35. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 2.69.

O-I Glass (NYSE:OI) last announced its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.03 by $0.09. O-I Glass had a negative net margin of 1.45% and a positive return on equity of 24.90%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the business earned $0.38 earnings per share. O-I Glass’s revenue was down 3.1% compared to the same quarter last year. Analysts anticipate that O-I Glass will post 2.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in OI. Covestor Ltd boosted its holdings in O-I Glass by 259.7% during the third quarter. Covestor Ltd now owns 1,669 shares of the industrial products company’s stock worth $28,000 after buying an additional 1,205 shares in the last quarter. Belpointe Asset Management LLC boosted its stake in O-I Glass by 109.4% in the 1st quarter. Belpointe Asset Management LLC now owns 1,518 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 793 shares during the period. Lazard Asset Management LLC acquired a new position in O-I Glass in the 1st quarter worth approximately $34,000. TFO Wealth Partners LLC boosted its stake in O-I Glass by 24,311.1% in the 4th quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 2,188 shares during the period. Finally, Quarry LP boosted its stake in O-I Glass by 499.3% in the 1st quarter. Quarry LP now owns 1,744 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 1,453 shares during the period. Institutional investors and hedge funds 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.