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

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new stake in O-I Glass during the third quarter worth about $27,000. Newbridge Financial Services Group Inc. grew its holdings in shares of O-I Glass by 1,337.5% in the second quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 2,675 shares in the last quarter. GAMMA Investing LLC increased its stake in O-I Glass by 371.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock worth $32,000 after buying an additional 1,892 shares during the period. Nisa Investment Advisors LLC lifted its holdings in O-I Glass by 28.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock worth $67,000 after buying an additional 1,136 shares in the last quarter. Finally, KBC Group NV boosted its position in O-I Glass by 38.9% in the 3rd quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock valued at $71,000 after buying an additional 1,521 shares during the period. 97.24% of the stock is currently owned by institutional investors and hedge funds.

O-I Glass Price Performance

Shares of OI stock opened at $10.20 on Thursday. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.23 and a quick ratio of 0.77. The company has a market capitalization of $1.58 billion, a PE ratio of -3.70 and a beta of 1.20. The firm’s 50-day moving average is $12.10 and its two-hundred day moving average is $12.04. O-I Glass has a 12 month low of $9.85 and a 12 month high of $17.58.

O-I Glass (NYSE:OI) last posted its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.08). O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the business earned $0.80 EPS. O-I Glass’s revenue was down 3.7% compared to the same quarter last year. Analysts predict that O-I Glass will post 0.76 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on OI. Barclays reduced their target price on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Royal Bank of Canada reduced their price objective on O-I Glass from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Bank of America upgraded O-I Glass from a “neutral” rating to a “buy” rating and upped their target price for the stock from $14.00 to $16.00 in a research note on Thursday, October 17th. Citigroup lifted their price target on O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com upgraded O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.25.

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.