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 on Wednesday. Traders purchased 2,354 call options on the stock. This represents an increase of approximately 3,039% compared to the average volume of 75 call options.

O-I Glass Stock Performance

Shares of O-I Glass stock opened at $12.18 on Thursday. The business has a 50-day moving average price of $11.29 and a two-hundred day moving average price of $11.87. O-I Glass has a 1-year low of $9.85 and a 1-year high of $17.58. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 3.78. The company has a market cap of $1.88 billion, a P/E ratio of -17.16, a PEG ratio of 0.24 and a beta of 1.20.

O-I Glass (NYSE:OI) last released its earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.02. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. As a group, analysts anticipate that O-I Glass will post 1.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on OI shares. Citigroup cut their target price on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company reduced their target price on O-I Glass from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and issued a $16.00 price target on shares of O-I Glass in a report on Monday. Finally, Bank of America lifted their price objective on O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, O-I Glass currently has a consensus rating of “Moderate Buy” and an average target price of $15.38.

Institutional Trading of O-I Glass

Hedge funds have recently modified their holdings of the stock. Cooper Creek Partners Management LLC grew its holdings in O-I Glass by 18.2% in the fourth quarter. Cooper Creek Partners Management LLC now owns 11,082,262 shares of the industrial products company’s stock worth $120,132,000 after purchasing an additional 1,705,216 shares during the period. FMR LLC boosted its position in shares of O-I Glass by 6.9% during the 4th quarter. FMR LLC now owns 10,054,398 shares of the industrial products company’s stock worth $108,990,000 after purchasing an additional 647,237 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of O-I Glass by 9.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,449,472 shares of the industrial products company’s stock valued at $80,749,000 after buying an additional 617,460 shares during the period. Highland Peak Capital LLC increased its position in O-I Glass by 87.5% in the 4th quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company’s stock valued at $42,029,000 after buying an additional 1,809,237 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in O-I Glass by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,568,443 shares of the industrial products company’s stock worth $46,827,000 after buying an additional 37,238 shares during the period. Institutional investors own 97.24% of the company’s stock.

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.