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

O-I Glass, Inc. (NYSE:OI - Get Free Report) saw unusually large options trading activity on Wednesday. Stock investors purchased 2,354 call options on the stock. This represents an increase of approximately 3,039% compared to the average daily volume of 75 call options.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on OI shares. Barclays decreased their target price on O-I Glass from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Thursday, October 31st. Royal Bank of Canada decreased their price objective on O-I Glass from $18.00 to $16.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Wells Fargo & Company dropped 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 report on Monday, January 6th. Citigroup reduced their target price on shares of O-I Glass from $12.00 to $11.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Finally, Bank of America upped their price target on shares of O-I Glass from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Monday, January 6th. 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, O-I Glass presently has a consensus rating of "Moderate Buy" and an average price target of $15.38.

O-I Glass Price Performance

Shares of O-I Glass stock traded up $0.24 during trading on Thursday, hitting $11.04. The stock had a trading volume of 1,088,845 shares, compared to its average volume of 1,148,923. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18. O-I Glass has a 12 month low of $9.85 and a 12 month high of $17.58. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -4.00 and a beta of 1.21. The business's 50-day moving average is $11.31 and its 200 day moving average is $11.93.

O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share 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 company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the company posted $0.80 earnings per share. The firm's revenue for the quarter was down 3.7% on a year-over-year basis. As a group, sell-side analysts anticipate that O-I Glass will post 0.75 earnings per share for the current year.

Hedge Funds Weigh In On O-I Glass

A number of hedge funds and other institutional investors have recently modified their holdings of OI. JPMorgan Chase & Co. increased its holdings in shares of O-I Glass by 18.0% in the third quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company's stock worth $8,130,000 after buying an additional 94,671 shares during the period. Highland Peak Capital LLC bought a new stake in O-I Glass in the third quarter valued at approximately $27,132,000. Barclays PLC boosted its stake in shares of O-I Glass by 349.3% during the third quarter. Barclays PLC now owns 261,161 shares of the industrial products company's stock valued at $3,427,000 after purchasing an additional 203,037 shares during the period. Maverick Capital Ltd. bought a new position in shares of O-I Glass in the third quarter worth approximately $1,264,000. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of O-I Glass in the third quarter worth $32,350,000. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

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.