O-I Glass, Inc. (NYSE:OI - Get Free Report) saw some unusual options trading on Wednesday. Investors acquired 2,354 call options on the stock. This represents an increase of approximately 3,039% compared to the typical volume of 75 call options.
Wall Street Analyst Weigh In
Several analysts recently issued reports on OI shares. Barclays upped their target price on O-I Glass from $13.00 to $14.00 and gave the stock an "equal weight" rating in a report on Friday. Wells Fargo & Company dropped their price objective on O-I Glass from $18.00 to $16.00 and set an "overweight" rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada reissued an "outperform" rating and issued a $16.00 target price on shares of O-I Glass in a research note on Monday, March 17th. Citigroup lowered 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. Finally, Truist Financial reissued a "buy" rating and issued a $16.00 price objective (up previously from $13.00) on shares of O-I Glass in a research report on Thursday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, O-I Glass presently has an average rating of "Moderate Buy" and a consensus target price of $15.50.
Check Out Our Latest Report on OI
O-I Glass Stock Performance
Shares of NYSE:OI traded up $0.44 on Friday, hitting $13.25. The company had a trading volume of 1,637,066 shares, compared to its average volume of 1,574,046. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -18.66, a P/E/G ratio of 0.24 and a beta of 0.93. The stock has a 50 day moving average price of $11.42 and a 200 day moving average price of $11.54. O-I Glass has a 1-year low of $9.23 and a 1-year high of $14.15. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 3.78.
O-I Glass (NYSE:OI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.22. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.55 billion. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. O-I Glass's quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 EPS. Analysts expect that O-I Glass will post 1.33 EPS for the current year.
Institutional Investors Weigh In On O-I Glass
Large investors have recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of O-I Glass by 2.2% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 42,900 shares of the industrial products company's stock worth $465,000 after acquiring an additional 916 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of O-I Glass by 79.3% in the 1st quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 1,142 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of O-I Glass by 1.6% during the 1st quarter. SummerHaven Investment Management LLC now owns 75,226 shares of the industrial products company's stock worth $863,000 after buying an additional 1,204 shares in the last quarter. Baird Financial Group Inc. lifted its position in shares of O-I Glass by 9.6% during the 4th quarter. Baird Financial Group Inc. now owns 16,152 shares of the industrial products company's stock worth $175,000 after buying an additional 1,410 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of O-I Glass by 13.4% during the 4th quarter. Corient Private Wealth LLC now owns 16,544 shares of the industrial products company's stock worth $179,000 after buying an additional 1,954 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.
About O-I Glass
(
Get Free Report)
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.
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