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

O-I Glass, Inc. (NYSE:OI) was the target of some unusual options trading activity on Wednesday. Investors bought 2,354 call options on the company. This is an increase of 3,039% compared to the typical volume of 75 call options.

O-I Glass Price Performance

Shares of NYSE:OI opened at $10.40 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 3.35. The company has a market cap of $1.58 billion, a P/E ratio of -12.38, a PEG ratio of 0.50 and a beta of 0.82. O-I Glass has a 52 week low of $9.23 and a 52 week high of $16.91. The company has a 50-day moving average price of $14.29 and a 200 day moving average price of $13.63.

O-I Glass (NYSE:OI) last released its earnings results on Tuesday, February 10th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.52 billion. O-I Glass had a positive return on equity of 18.07% and a negative net margin of 2.01%.The firm’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) EPS. Research analysts predict that O-I Glass will post 1.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on OI shares. Citigroup lowered their price target on O-I Glass from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, February 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of O-I Glass in a research report on Thursday, January 22nd. Robert W. Baird set a $20.00 target price on O-I Glass in a research note on Thursday, February 12th. Wells Fargo & Company raised O-I Glass from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $15.00 to $18.00 in a report on Tuesday, January 6th. Finally, UBS Group restated a “buy” rating and set a $21.00 price target on shares of O-I Glass in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.11.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its stake in shares of O-I Glass by 87.6% during the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 830 shares during the period. Headlands Technologies LLC acquired a new stake in shares of O-I Glass in the second quarter valued at about $29,000. Quarry LP purchased a new stake in O-I Glass during the fourth quarter worth about $32,000. Caitong International Asset Management Co. Ltd boosted its holdings in O-I Glass by 36,533.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock worth $32,000 after buying an additional 2,192 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in O-I Glass by 64.1% during the second quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock worth $35,000 after buying an additional 918 shares during the period. Hedge funds and other institutional investors own 97.24% of the company’s stock.

About O-I Glass

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.