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

O-I Glass, Inc. (NYSE:OI) was the target of unusually large options trading on Wednesday. Stock investors acquired 2,354 call options on the stock. This is an increase of approximately 3,039% compared to the typical volume of 75 call options.

Analysts Set New Price Targets

Several brokerages recently commented on OI. Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and increased their price objective for the company from $14.00 to $17.00 in a research report on Monday, November 17th. Wall Street Zen raised shares of O-I Glass from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 20th. Zacks Research downgraded shares of O-I Glass from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of O-I Glass in a report on Wednesday, October 8th. Finally, Truist Financial reduced their target price on O-I Glass from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.67.

O-I Glass Stock Performance

Shares of NYSE OI opened at $14.97 on Thursday. The company has a 50 day simple moving average of $13.32 and a two-hundred day simple moving average of $13.48. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of -15.93, a PEG ratio of 0.23 and a beta of 0.78. The company has a current ratio of 1.33, a quick ratio of 0.84 and a debt-to-equity ratio of 3.36. O-I Glass has a 12 month low of $9.23 and a 12 month high of $16.04.

O-I Glass (NYSE:OI) last issued its earnings results on Wednesday, March 1st. The industrial products company reported $0.36 earnings per share (EPS) for the quarter. O-I Glass had a negative net margin of 2.26% and a positive return on equity of 16.02%. The firm had revenue of $1.59 billion during the quarter. As a group, analysts predict that O-I Glass will post 1.33 earnings per share for the current year.

Institutional Trading of O-I Glass

Several hedge funds and other institutional investors have recently bought and sold shares of OI. GAMMA Investing LLC lifted its holdings in O-I Glass by 31.7% in the second quarter. GAMMA Investing LLC now owns 3,403 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 820 shares during the period. Teacher Retirement System of Texas increased its holdings in shares of O-I Glass by 3.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 23,495 shares of the industrial products company’s stock valued at $346,000 after purchasing an additional 879 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of O-I Glass by 64.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 918 shares during the period. KLP Kapitalforvaltning AS boosted its holdings in O-I Glass by 3.1% during the second quarter. KLP Kapitalforvaltning AS now owns 33,600 shares of the industrial products company’s stock worth $495,000 after buying an additional 1,000 shares in the last quarter. Finally, Amundi grew its position in O-I Glass by 1.4% during the second quarter. Amundi now owns 75,483 shares of the industrial products company’s stock valued at $1,175,000 after buying an additional 1,031 shares during the period. 97.24% of the stock is owned by institutional investors and hedge funds.

O-I Glass Company Profile

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.