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

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

Analysts Set New Price Targets

A number of research analysts have recently commented on OI shares. Barclays upped their price target on O-I Glass from $13.00 to $14.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Royal Bank of Canada reiterated an "outperform" rating and set a $16.00 target price on shares of O-I Glass in a research note on Monday, March 17th. Truist Financial restated a "buy" rating and issued a $16.00 price target (up from $13.00) on shares of O-I Glass in a research report on Thursday, May 1st. Finally, Citigroup upped their price objective on shares of O-I Glass from $11.00 to $14.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $15.88.

O-I Glass Price Performance

NYSE:OI opened at $13.77 on Thursday. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. The company has a 50-day moving average of $11.74 and a 200-day moving average of $11.59. O-I Glass has a 52 week low of $9.23 and a 52 week high of $14.34. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of -19.39, a PEG ratio of 0.24 and a beta of 0.93.

O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $1.57 billion during 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%. The company's quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 earnings per share. As a group, equities research analysts anticipate that O-I Glass will post 1.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Ieq Capital LLC acquired a new stake in shares of O-I Glass in the 1st quarter valued at $303,000. JB Capital Partners LP acquired a new position in O-I Glass in the first quarter valued at about $1,090,000. MetLife Investment Management LLC boosted its position 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 buying an additional 980,758 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in O-I Glass during the first quarter worth about $85,000. Finally, Algert Global LLC acquired a new stake in shares of O-I Glass during the first quarter worth approximately $1,606,000. 97.24% of the stock is currently owned by institutional investors and hedge funds.

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.

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