Investors Buy Large Volume of Call Options on O-I Glass (NYSE:OI)

O-I Glass, Inc. (NYSE:OI) was the target of some unusual options trading on Wednesday. Investors bought 2,354 call options on the stock. 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 recently weighed in on OI shares. UBS Group reissued a “buy” rating and issued a $21.00 price target on shares of O-I Glass in a research note on Thursday, February 12th. Robert W. Baird set a $20.00 price objective on shares of O-I Glass in a research note on Thursday, February 12th. Citigroup decreased their target price on shares of O-I Glass from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, February 12th. Zacks Research downgraded shares of O-I Glass from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 3rd. Finally, Wells Fargo & Company upgraded shares of O-I Glass from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $15.00 to $18.00 in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.11.

O-I Glass Stock Down 0.3%

NYSE:OI opened at $10.37 on Friday. The business’s fifty day moving average price is $14.19 and its 200 day moving average price is $13.61. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of -12.34, a PEG ratio of 0.49 and a beta of 0.82. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 3.35. O-I Glass has a 1-year low of $9.23 and a 1-year high of $16.91.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, February 10th. The industrial products company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. O-I Glass had a positive return on equity of 18.07% and a negative net margin of 2.01%.The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the company posted ($0.05) EPS. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, sell-side analysts forecast that O-I Glass will post 1.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OI. Farther Finance Advisors LLC increased its stake in O-I Glass by 87.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock valued at $26,000 after buying an additional 830 shares during the period. Headlands Technologies LLC acquired a new stake in shares of O-I Glass during the 2nd quarter valued at $29,000. Quarry LP purchased a new position in shares of O-I Glass during the 4th quarter valued at $32,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of O-I Glass by 36,533.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 2,192 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of O-I Glass by 64.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 918 shares during the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.

About O-I Glass

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.