Traders Buy High Volume of O-I Glass Call Options (NYSE:OI)

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

O-I Glass Price Performance

Shares of NYSE OI traded down $0.12 on Friday, hitting $14.55. The company's stock had a trading volume of 1,671,254 shares, compared to its average volume of 1,466,084. O-I Glass has a 12-month low of $9.23 and a 12-month high of $16.04. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -11.54, a price-to-earnings-growth ratio of 0.30 and a beta of 0.97. The company has a debt-to-equity ratio of 3.83, a current ratio of 1.24 and a quick ratio of 0.73. The stock has a 50 day moving average of $14.23 and a 200-day moving average of $12.49.

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, beating 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 negative net margin of 2.98% and a positive return on equity of 8.48%. The company's revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.45 earnings per share. As a group, research analysts predict that O-I Glass will post 1.33 EPS for the current year.

Hedge Funds Weigh In On O-I Glass

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Cooper Creek Partners Management LLC lifted its holdings in shares of O-I Glass by 18.2% during the 4th quarter. Cooper Creek Partners Management LLC now owns 11,082,262 shares of the industrial products company's stock valued at $120,132,000 after acquiring an additional 1,705,216 shares in the last quarter. FMR LLC lifted its holdings in shares of O-I Glass by 6.9% during the 4th quarter. FMR LLC now owns 10,054,398 shares of the industrial products company's stock valued at $108,990,000 after acquiring an additional 647,237 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of O-I Glass by 9.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,449,472 shares of the industrial products company's stock valued at $80,749,000 after acquiring an additional 617,460 shares in the last quarter. Segall Bryant & Hamill LLC lifted its holdings in shares of O-I Glass by 31.5% during the 4th quarter. Segall Bryant & Hamill LLC now owns 3,242,750 shares of the industrial products company's stock valued at $35,151,000 after acquiring an additional 777,036 shares in the last quarter. Finally, Levin Capital Strategies L.P. lifted its holdings in shares of O-I Glass by 6.0% during the 1st quarter. Levin Capital Strategies L.P. now owns 2,915,106 shares of the industrial products company's stock valued at $33,436,000 after acquiring an additional 164,669 shares in the last quarter. Institutional investors and hedge funds own 97.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on OI shares. UBS Group restated a "buy" rating and issued a $19.00 price objective (up from $17.00) on shares of O-I Glass in a research note on Wednesday, July 9th. BNP Paribas set a $18.00 price objective on shares of O-I Glass in a research note on Wednesday, June 25th. Barclays lifted their price objective on shares of O-I Glass from $13.00 to $14.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Citigroup lifted their target price on shares of O-I Glass from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Finally, BNP Paribas Exane assumed coverage on shares of O-I Glass in a report on Wednesday, June 25th. They set an "outperform" rating and a $18.00 price objective on the stock. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $17.20.

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.