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

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

O-I Glass Price Performance

NYSE:OI opened at $12.27 on Friday. O-I Glass has a 52 week low of $9.85 and a 52 week high of $17.58. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. The stock has a market capitalization of $1.89 billion, a PE ratio of -17.27, a price-to-earnings-growth ratio of 0.24 and a beta of 1.20. The stock’s 50-day moving average price is $11.36 and its 200-day moving average price is $11.87.

O-I Glass (NYSE:OI) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) EPS for the quarter, beating 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, equities analysts expect that O-I Glass will post 1.33 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On O-I Glass

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealthedge Investment Advisors LLC acquired a new stake in shares of O-I Glass in the fourth quarter valued at about $241,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of O-I Glass during the fourth quarter valued at approximately $2,573,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of O-I Glass by 30.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 365,630 shares of the industrial products company’s stock valued at $3,963,000 after acquiring an additional 84,380 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of O-I Glass by 44.4% in the fourth quarter. Two Sigma Investments LP now owns 710,216 shares of the industrial products company’s stock worth $7,699,000 after acquiring an additional 218,381 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of O-I Glass during the fourth quarter worth approximately $89,000. Hedge funds and other 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.