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

O-I Glass, Inc. (NYSE:OI - Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Traders bought 2,354 call options on the stock. This is an increase of 3,039% compared to the average volume of 75 call options.

Analysts Set New Price Targets

OI has been the subject of several recent research reports. Barclays lowered 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. Wells Fargo & Company dropped their target price on O-I Glass from $18.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, January 6th. Citigroup decreased their price target on O-I Glass from $12.00 to $11.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada dropped their price objective on O-I Glass from $18.00 to $16.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. Finally, Bank of America lifted their target price on shares of O-I Glass from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, O-I Glass presently has an average rating of "Moderate Buy" and an average target price of $15.38.

O-I Glass Trading Down 4.2 %

NYSE:OI traded down $0.49 during trading hours on Friday, hitting $11.27. The company had a trading volume of 1,909,570 shares, compared to its average volume of 1,527,456. The company has a debt-to-equity ratio of 3.78, a current ratio of 1.15 and a quick ratio of 0.70. The stock has a 50-day moving average price of $10.96 and a 200 day moving average price of $11.95. The company has a market capitalization of $1.74 billion, a PE ratio of -15.87, a price-to-earnings-growth ratio of 0.24 and a beta of 1.22. 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 announced its earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates 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, equities research analysts predict that O-I Glass will post 1.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Creative Planning raised its holdings in O-I Glass by 74.2% in the third quarter. Creative Planning now owns 74,322 shares of the industrial products company's stock worth $975,000 after purchasing an additional 31,653 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of O-I Glass by 33.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 172,565 shares of the industrial products company's stock worth $2,264,000 after buying an additional 43,724 shares during the period. Everence Capital Management Inc. increased its stake in shares of O-I Glass by 6.1% in the 3rd quarter. Everence Capital Management Inc. now owns 15,550 shares of the industrial products company's stock worth $204,000 after acquiring an additional 890 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of O-I Glass by 28.4% in the 3rd 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, Private Management Group Inc. lifted its position in O-I Glass by 20.8% during the 3rd quarter. Private Management Group Inc. now owns 3,025,731 shares of the industrial products company's stock valued at $39,698,000 after acquiring an additional 520,452 shares during the period. 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.