O-I Glass, Inc. (NYSE:OI - Get Free Report) saw unusually large options trading on Wednesday. Traders purchased 2,354 call options on the stock. This is an increase of 3,039% compared to the average volume of 75 call options.
Wall Street Analyst Weigh In
OI has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $16.00 price target on shares of O-I Glass in a research report on Monday, March 17th. Bank of America upped their target price on O-I Glass from $14.00 to $15.00 and gave the company a "buy" rating in a report on Monday, January 6th. Citigroup dropped their price target on 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, Wells Fargo & Company dropped their target price on shares of O-I Glass from $18.00 to $16.00 and set an "overweight" rating for the company in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, O-I Glass has a consensus rating of "Moderate Buy" and a consensus target price of $15.38.
Read Our Latest Stock Analysis on OI
Institutional Investors Weigh In On O-I Glass
Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in O-I Glass by 18.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company's stock worth $8,130,000 after purchasing an additional 94,671 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of O-I Glass by 57.1% in the fourth quarter. Victory Capital Management Inc. now owns 139,302 shares of the industrial products company's stock worth $1,510,000 after buying an additional 50,641 shares in the last quarter. Barclays PLC grew its holdings 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 buying an additional 203,037 shares during the last quarter. Amundi grew its holdings in shares of O-I Glass by 212.9% during the fourth quarter. Amundi now owns 95,302 shares of the industrial products company's stock valued at $996,000 after buying an additional 64,844 shares during the last quarter. Finally, Highland Peak Capital LLC increased its position in shares of O-I Glass by 87.5% during the fourth quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company's stock valued at $42,029,000 after acquiring an additional 1,809,237 shares in the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.
O-I Glass Stock Down 6.1 %
Shares of OI stock traded down $0.69 during mid-day trading on Friday, reaching $10.53. 2,942,564 shares of the company's stock traded hands, compared to its average volume of 1,596,814. The company's 50-day moving average price is $11.60 and its 200-day moving average price is $11.82. The company has a market cap of $1.62 billion, a P/E ratio of -14.82, a P/E/G ratio of 0.24 and a beta of 0.98. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. O-I Glass has a 12 month low of $9.85 and a 12 month high of $16.19.
O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) EPS for the quarter, topping 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, equities analysts expect that O-I Glass will post 1.33 earnings per share for the current fiscal year.
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.
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