O-I Glass, Inc. (NYSE:OI - Get Free Report) saw some unusual options trading on Wednesday. Investors bought 2,354 call options on the company. This represents an increase of 3,039% compared to the typical volume of 75 call options.
O-I Glass Stock Performance
O-I Glass stock traded up $0.13 during trading hours on Thursday, reaching $10.33. 1,587,954 shares of the stock were exchanged, compared to its average volume of 1,659,261. The stock has a market cap of $1.60 billion, a P/E ratio of -3.74 and a beta of 1.20. The firm's 50 day moving average is $12.05 and its 200 day moving average is $12.03. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.77 and a current ratio of 1.23. O-I Glass has a 52-week low of $9.85 and a 52-week high of $17.58.
O-I Glass (NYSE:OI - Get Free Report) last released 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). The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The business's revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 EPS. Analysts predict that O-I Glass will post 0.76 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the company. Bank of America raised O-I Glass from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $14.00 to $16.00 in a research note on Thursday, October 17th. Royal Bank of Canada cut their target price on shares of O-I Glass from $18.00 to $16.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. Barclays decreased their price target on shares of O-I Glass from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Thursday, October 31st. 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 report on Wednesday, October 2nd. Finally, StockNews.com raised shares of O-I Glass from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $16.25.
Check Out Our Latest Analysis on O-I Glass
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in shares of O-I Glass by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,093,723 shares of the industrial products company's stock valued at $78,952,000 after buying an additional 573,300 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 valued at $46,827,000 after acquiring an additional 37,238 shares in the last quarter. Levin Capital Strategies L.P. raised its position in O-I Glass by 25.0% during the second quarter. Levin Capital Strategies L.P. now owns 3,511,413 shares of the industrial products company's stock worth $39,082,000 after acquiring an additional 703,308 shares during the last quarter. Private Management Group Inc. lifted its holdings in shares of O-I Glass by 20.8% in the third quarter. Private Management Group Inc. now owns 3,025,731 shares of the industrial products company's stock valued at $39,698,000 after purchasing an additional 520,452 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of O-I Glass in the third quarter valued at approximately $32,350,000. 97.24% of the stock is owned by hedge funds and other institutional investors.
About O-I Glass
(
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.
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