O-I Glass, Inc. (NYSE:OI - Get Free Report) saw unusually large options trading on Wednesday. Traders acquired 2,354 call options on the stock. This represents an increase of approximately 3,039% compared to the average volume of 75 call options.
O-I Glass Stock Down 1.5%
Shares of OI stock opened at $15.57 on Thursday. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.73 and a current ratio of 1.24. O-I Glass has a fifty-two week low of $9.23 and a fifty-two week high of $16.04. The firm has a market capitalization of $2.41 billion, a PE ratio of -12.36, a P/E/G ratio of 0.32 and a beta of 0.97. The stock's 50-day simple moving average is $13.89 and its 200-day simple moving average is $12.12.
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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.22. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.55 billion. O-I Glass had a negative net margin of 2.98% and a positive return on equity of 8.48%. The firm's quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 earnings per share. Equities analysts expect that O-I Glass will post 1.33 earnings per share for the current year.
Wall Street Analysts Forecast Growth
OI has been the topic of a number of analyst reports. Royal Bank Of Canada reiterated an "outperform" rating and issued a $16.00 price target on shares of O-I Glass in a research note on Monday, March 17th. Wall Street Zen upgraded O-I Glass from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. Bank of America reissued a "neutral" rating and issued a $17.00 price objective (up previously from $15.00) on shares of O-I Glass in a report on Wednesday. BNP Paribas set a $18.00 price target on shares of O-I Glass in a research note on Wednesday, June 25th. Finally, Truist Financial restated a "buy" rating and issued a $16.00 price objective (up from $13.00) on shares of O-I Glass in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $16.80.
Get Our Latest Stock Analysis on OI
Institutional Investors Weigh In On O-I Glass
Several hedge funds and other institutional investors have recently made changes to their positions in OI. Cooper Creek Partners Management LLC increased its stake in O-I Glass by 18.2% during the fourth quarter. Cooper Creek Partners Management LLC now owns 11,082,262 shares of the industrial products company's stock worth $120,132,000 after purchasing an additional 1,705,216 shares during the period. Millennium Management LLC lifted its stake in O-I Glass by 251.7% during the fourth quarter. Millennium Management LLC now owns 1,458,102 shares of the industrial products company's stock worth $15,806,000 after purchasing an additional 1,043,570 shares during the last quarter. Mesirow Institutional Investment Management Inc. acquired a new position in O-I Glass in the fourth quarter valued at approximately $10,885,000. MetLife Investment Management LLC increased its stake in O-I Glass by 1,043.3% in the first quarter. MetLife Investment Management LLC now owns 1,074,764 shares of the industrial products company's stock valued at $12,328,000 after purchasing an additional 980,758 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in O-I Glass during the first quarter worth approximately $10,738,000. Institutional investors and hedge funds own 97.24% of the company's stock.
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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