O-I Glass, Inc. (NYSE:OI - Get Free Report) was the target of unusually large options trading on Wednesday. Stock traders purchased 2,354 call options on the stock. This is an increase of approximately 3,039% compared to the typical volume of 75 call options.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on OI. Citigroup increased their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the company a "neutral" rating in a research note on Wednesday, October 2nd. StockNews.com raised shares of O-I Glass from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th. Bank of America upgraded O-I Glass from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $14.00 to $16.00 in a research report on Thursday, October 17th. Truist Financial reiterated a "buy" rating and set a $16.00 target price (down previously from $17.00) on shares of O-I Glass in a report on Thursday, August 1st. Finally, Royal Bank of Canada cut their price target 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. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, O-I Glass has an average rating of "Moderate Buy" and an average price target of $16.25.
View Our Latest Stock Analysis on OI
O-I Glass Trading Up 0.7 %
Shares of OI stock traded up $0.09 during mid-day trading on Thursday, hitting $12.69. 843,702 shares of the company's stock were exchanged, compared to its average volume of 1,673,240. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -4.60 and a beta of 1.20. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18. O-I Glass has a fifty-two week low of $10.08 and a fifty-two week high of $17.58. The stock has a 50-day simple moving average of $12.71 and a two-hundred day simple moving average of $12.22.
O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.08). The business had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.76 billion. O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The firm's quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 EPS. Equities analysts expect that O-I Glass will post 0.76 EPS for the current fiscal year.
Hedge Funds Weigh In On O-I Glass
Large investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. acquired a new position in shares of O-I Glass in the 3rd quarter valued at about $27,000. Newbridge Financial Services Group Inc. lifted its position in O-I Glass by 1,337.5% during 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 buying an additional 2,675 shares in the last quarter. GAMMA Investing LLC grew its stake in O-I Glass by 371.0% during the third 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 increased its position in shares of O-I Glass by 28.4% in the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company's stock worth $67,000 after acquiring an additional 1,136 shares in the last quarter. Finally, KBC Group NV increased its position in shares of O-I Glass by 38.9% in the third quarter. KBC Group NV now owns 5,431 shares of the industrial products company's stock worth $71,000 after acquiring an additional 1,521 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company's stock.
O-I Glass Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider O-I Glass, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and O-I Glass wasn't on the list.
While O-I Glass currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
