O-I Glass Target of Unusually High Options Trading (NYSE:OI)

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on OI shares. Citigroup increased their price target on O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company lowered their price target on shares of O-I Glass from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. Robert W. Baird reduced their price objective on shares of O-I Glass from $22.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Barclays dropped their target price on shares of O-I Glass from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.63.

Insider Activity

In other O-I Glass news, Director John Humphrey bought 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average cost of $11.30 per share, for a total transaction of $169,500.00. Following the transaction, the director now directly owns 84,227 shares in the company, valued at approximately $951,765.10. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On O-I Glass

Hedge funds and other institutional investors have recently modified their holdings of the company. Diversified Trust Co lifted its holdings in shares of O-I Glass by 2.0% in the 3rd quarter. Diversified Trust Co now owns 49,596 shares of the industrial products company’s stock worth $651,000 after purchasing an additional 965 shares in the last quarter. Mackenzie Financial Corp lifted its stake in shares of O-I Glass by 6.1% in the second quarter. Mackenzie Financial Corp now owns 20,091 shares of the industrial products company’s stock valued at $224,000 after buying an additional 1,162 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of O-I Glass by 40.2% during the first quarter. Bessemer Group Inc. now owns 4,597 shares of the industrial products company’s stock valued at $76,000 after buying an additional 1,318 shares during the last quarter. Texas Permanent School Fund Corp increased its position in shares of O-I Glass by 1.1% during the first quarter. Texas Permanent School Fund Corp now owns 135,154 shares of the industrial products company’s stock worth $2,242,000 after acquiring an additional 1,465 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of O-I Glass by 8.7% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 21,281 shares of the industrial products company’s stock worth $357,000 after acquiring an additional 1,695 shares during the last quarter. Institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Down 0.3 %

Shares of NYSE OI opened at $12.73 on Thursday. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 2.85. The firm has a market cap of $1.98 billion, a PE ratio of -8.01, a P/E/G ratio of 1.88 and a beta of 1.17. The company’s fifty day simple moving average is $12.60 and its 200 day simple moving average is $12.73. O-I Glass has a 12-month low of $10.08 and a 12-month high of $17.58.

O-I Glass (NYSE:OI) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. O-I Glass had a negative net margin of 4.32% and a positive return on equity of 15.64%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the firm earned $0.88 EPS. The business’s revenue was down 8.5% on a year-over-year basis. As a group, sell-side analysts forecast that O-I Glass will post 1.13 earnings per share for the current fiscal year.

About O-I Glass

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.