Investors Purchase High Volume of O-I Glass Call Options (NYSE:OI)

O-I Glass, Inc. (NYSE:OI - Get Free Report) saw some unusual options trading on Wednesday. Stock traders bought 2,354 call options on the company. This is an increase of approximately 3,039% compared to the typical volume of 75 call options.

O-I Glass Stock Down 0.3%

Shares of NYSE:OI traded down $0.05 during mid-day trading on Thursday, hitting $15.56. 1,465,215 shares of the company traded hands, compared to its average volume of 1,524,207. The firm has a market cap of $2.41 billion, a P/E ratio of -12.35, a PEG ratio of 0.32 and a beta of 0.97. 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 52-week low of $9.23 and a 52-week high of $16.04. The firm'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 posted its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.22. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.55 billion. O-I Glass had a positive return on equity of 8.48% and a negative net margin of 2.98%. O-I Glass's revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 EPS. On average, equities analysts anticipate that O-I Glass will post 1.33 EPS for the current year.

Institutional Trading of O-I Glass

Several institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in O-I Glass by 79.3% during 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 period. Caitong International Asset Management Co. Ltd acquired a new position in O-I Glass during the 1st quarter worth $30,000. Sterling Capital Management LLC lifted its holdings in shares of O-I Glass by 807.2% in the fourth quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company's stock valued at $53,000 after buying an additional 4,343 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of O-I Glass in the first quarter valued at $85,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of O-I Glass in the fourth quarter valued at $86,000. Institutional investors own 97.24% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on OI shares. Wall Street Zen raised O-I Glass from a "hold" rating to a "buy" rating in a report on Sunday, June 29th. Barclays raised their target price on O-I Glass from $13.00 to $14.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. UBS Group reaffirmed a "buy" rating and set a $19.00 price target (up previously from $17.00) on shares of O-I Glass in a research note on Wednesday. Citigroup boosted their target price on shares of O-I Glass from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. Finally, BNP Paribas set a $18.00 target price on shares of O-I Glass in a research note on Wednesday, June 25th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $16.80.

O-I Glass Company Profile

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.