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 activity on Wednesday. Stock investors bought 2,354 call options on the stock. This represents an increase of approximately 3,039% compared to the typical volume of 75 call options.

O-I Glass Price Performance

NYSE:OI opened at $15.09 on Thursday. The company has a 50-day moving average of $16.19 and a 200-day moving average of $15.66. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of -20.12, a PEG ratio of 1.05 and a beta of 1.35. O-I Glass has a 52 week low of $13.56 and a 52 week high of $23.57. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.77 and a current ratio of 1.23.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the firm earned $0.38 EPS. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, equities research analysts anticipate that O-I Glass will post 2.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On O-I Glass

Several institutional investors have recently added to or reduced their stakes in OI. Vanguard Group Inc. increased its position in O-I Glass by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 19,597,610 shares of the industrial products company’s stock valued at $253,789,000 after acquiring an additional 291,640 shares in the last quarter. Dimensional Fund Advisors LP increased its position in O-I Glass by 12.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,615,054 shares of the industrial products company’s stock valued at $108,358,000 after acquiring an additional 728,493 shares in the last quarter. State Street Corp increased its position in O-I Glass by 0.9% in the 3rd quarter. State Street Corp now owns 5,841,163 shares of the industrial products company’s stock valued at $75,643,000 after acquiring an additional 54,511 shares in the last quarter. Morgan Stanley increased its position in O-I Glass by 34.1% in the 3rd quarter. Morgan Stanley now owns 3,005,557 shares of the industrial products company’s stock valued at $50,283,000 after acquiring an additional 764,896 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in O-I Glass by 3.8% in the 1st quarter. Geode Capital Management LLC now owns 2,866,204 shares of the industrial products company’s stock valued at $65,092,000 after acquiring an additional 104,264 shares in the last quarter. 97.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on OI. TheStreet lowered shares of O-I Glass from a “b-” rating to a “c-” rating in a research note on Tuesday, February 6th. Truist Financial reiterated a “buy” rating and issued a $20.00 price objective on shares of O-I Glass in a research note on Monday, March 25th. Citigroup lowered shares of O-I Glass from a “buy” rating to a “neutral” rating and upped their price objective for the company from $17.00 to $18.00 in a research note on Wednesday, January 3rd. 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 note on Tuesday, February 13th. Finally, StockNews.com lowered shares of O-I Glass from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, O-I Glass currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

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.