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

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on OI shares. StockNews.com upgraded O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Royal Bank of Canada lowered their price objective on O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Citigroup lowered their price objective on O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Barclays reduced their target price on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Finally, Bank of America increased their target price on O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, O-I Glass currently has a consensus rating of “Moderate Buy” and an average target price of $15.38.

O-I Glass Stock Performance

NYSE:OI opened at $11.79 on Friday. The stock’s 50-day simple moving average is $10.96 and its 200 day simple moving average is $11.95. The firm has a market capitalization of $1.82 billion, a PE ratio of -16.60, a price-to-earnings-growth ratio of 0.24 and a beta of 1.22. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. O-I Glass has a twelve month low of $9.85 and a twelve month high of $17.58.

O-I Glass (NYSE:OI) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) 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%. On average, analysts anticipate that O-I Glass will post 1.36 EPS for the current fiscal year.

Institutional Trading of O-I Glass

Hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new stake in shares of O-I Glass during the third quarter valued at about $27,000. R Squared Ltd bought a new position in shares of O-I Glass during the fourth quarter worth about $45,000. Sterling Capital Management LLC raised its position in shares of O-I Glass by 807.2% during the fourth quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 4,343 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of O-I Glass by 28.4% during the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 1,136 shares during the last quarter. Finally, KBC Group NV raised its position in shares of 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 worth $71,000 after acquiring an additional 1,521 shares during the last quarter. 97.24% of the stock is owned by institutional investors and hedge funds.

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.