O-I Glass Sees Unusually Large Options Volume (NYSE:OI)

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

Hedge Funds Weigh In On O-I Glass

A number of institutional investors have recently added to or reduced their stakes in OI. Farther Finance Advisors LLC boosted its position in O-I Glass by 87.6% in the fourth 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 in the last quarter. Headlands Technologies LLC acquired a new position in shares of O-I Glass during the second quarter worth $29,000. Quarry LP bought a new position in shares of O-I Glass in the 4th quarter valued at $32,000. Caitong International Asset Management Co. Ltd boosted 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, State of Wyoming acquired a new stake in shares of O-I Glass during the 2nd quarter valued at $35,000. 97.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of O-I Glass in a report on Thursday, January 22nd. UBS Group reissued a “buy” rating and set a $21.00 price target on shares of O-I Glass in a research report on Thursday, February 12th. Wells Fargo & Company raised O-I Glass from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $15.00 to $18.00 in a report on Tuesday, January 6th. Wall Street Zen downgraded O-I Glass from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Finally, Zacks Research lowered O-I Glass from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, O-I Glass presently has a consensus rating of “Moderate Buy” and an average target price of $18.22.

O-I Glass Stock Up 2.2%

NYSE OI opened at $14.97 on Thursday. The business has a fifty day moving average price of $15.34 and a two-hundred day moving average price of $13.73. The stock has a market capitalization of $2.28 billion, a PE ratio of -17.82, a PEG ratio of 0.66 and a beta of 0.78. O-I Glass has a fifty-two week low of $9.23 and a fifty-two week high of $16.91. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.25 and a quick ratio of 0.77.

O-I Glass (NYSE:OI) last issued its quarterly earnings results on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the company posted ($0.05) EPS. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. Equities analysts expect that O-I Glass will post 1.33 earnings per share for the current fiscal year.

O-I Glass Company Profile

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.