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

O-I Glass, Inc. (NYSE:OI) was the target of unusually large options trading activity on Wednesday. Investors purchased 2,354 call options on the company. This represents an increase of approximately 3,039% compared to the average daily volume of 75 call options.

O-I Glass Stock Down 2.7%

Shares of NYSE OI opened at $10.32 on Friday. O-I Glass has a 12-month low of $9.23 and a 12-month high of $16.91. The firm’s 50-day simple moving average is $13.18 and its 200 day simple moving average is $13.44. 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 price-to-earnings ratio of -12.29, a price-to-earnings-growth ratio of 0.69 and a beta of 0.84.

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

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

OI has been the topic of a number of recent analyst reports. Robert W. Baird set a $20.00 price target on shares of O-I Glass in a research report on Thursday, February 12th. Wells Fargo & Company cut shares of O-I Glass from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $18.00 to $13.00 in a research note on Friday, March 20th. Citigroup reduced their target price 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. Truist Financial increased their price target on O-I Glass from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Finally, UBS Group reaffirmed a “buy” rating and set a $21.00 price target on shares of O-I Glass in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, O-I Glass has an average rating of “Hold” and a consensus price target of $17.56.

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.