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

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada lowered their price objective on O-I Glass from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Citigroup dropped their target price on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Barclays dropped their price objective on shares of 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. StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company reduced their price objective on shares of O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.38.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. acquired a new position in O-I Glass during the 3rd quarter valued at about $27,000. GAMMA Investing LLC boosted its holdings in shares of O-I Glass by 371.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock valued at $32,000 after buying an additional 1,892 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in shares of O-I Glass by 1,337.5% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock valued at $32,000 after buying an additional 2,675 shares during the last quarter. R Squared Ltd acquired a new stake in O-I Glass during the 4th quarter valued at $45,000. Finally, Nisa Investment Advisors LLC lifted its holdings in O-I Glass by 28.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 1,136 shares during the last quarter. Institutional investors and hedge funds own 97.24% of the company’s stock.

O-I Glass Trading Up 2.2 %

Shares of O-I Glass stock opened at $11.04 on Friday. The company’s fifty day simple moving average is $11.31 and its 200-day simple moving average is $11.93. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -4.00 and a beta of 1.21. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18. O-I Glass has a 1 year low of $9.85 and a 1 year high of $17.58.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share 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 firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 EPS. As a group, sell-side analysts expect that O-I Glass will post 0.75 EPS for the current year.

About O-I Glass

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.