O-I Glass Sees Unusually Large Options Volume (NYSE:OI)

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

O-I Glass Stock Performance

OI traded down $0.28 during midday trading on Friday, reaching $11.99. The company had a trading volume of 2,633,614 shares, compared to its average volume of 1,522,670. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. The stock has a market cap of $1.85 billion, a PE ratio of -16.88, a P/E/G ratio of 0.24 and a beta of 1.20. O-I Glass has a 12-month low of $9.85 and a 12-month high of $17.58. The business has a 50-day moving average price of $11.40 and a two-hundred day moving average price of $11.86.

O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. On average, sell-side analysts expect that O-I Glass will post 1.33 earnings per share for the current fiscal year.

Institutional Trading of O-I Glass

Several hedge funds and other institutional investors have recently modified their holdings of the business. Cooper Creek Partners Management LLC raised its position in shares of 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 valued at $120,132,000 after purchasing an additional 1,705,216 shares during the period. FMR LLC increased its holdings in 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 acquiring an additional 647,237 shares during the period. Dimensional Fund Advisors LP increased its holdings in O-I Glass by 9.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,449,472 shares of the industrial products company's stock worth $80,749,000 after acquiring an additional 617,460 shares during the period. Highland Peak Capital LLC increased its holdings in O-I Glass by 87.5% during the 4th quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company's stock worth $42,029,000 after acquiring an additional 1,809,237 shares during the period. Finally, 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 worth $46,827,000 after acquiring an additional 37,238 shares during the period. Institutional investors own 97.24% of the company's stock.

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Analysts Set New Price Targets

Several research analysts recently weighed in on OI shares. Wells Fargo & Company cut their price target 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 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. Bank of America boosted their price target on shares of O-I Glass from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $16.00 price target on shares of O-I Glass in a report on Monday, March 17th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $15.38.

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.