Investors Purchase High Volume of Call Options on O-I Glass (NYSE:OI)

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Barclays dropped their target price on shares of O-I Glass from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company cut their target price on shares of O-I Glass from $19.00 to $18.00 and set an "overweight" rating for the company in a research note on Wednesday, July 17th. Citigroup increased their price target on O-I Glass from $14.00 to $15.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. Bank of America upgraded O-I Glass from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $14.00 to $16.00 in a research report on Thursday, October 17th. Finally, Royal Bank of Canada decreased their target price on O-I Glass from $18.00 to $16.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, O-I Glass presently has an average rating of "Moderate Buy" and an average target price of $16.25.

O-I Glass Trading Up 1.1 %

Shares of NYSE:OI traded up $0.14 during mid-day trading on Thursday, reaching $12.91. The stock had a trading volume of 252,253 shares, compared to its average volume of 1,690,015. The firm has a market cap of $2.00 billion, a PE ratio of -4.67 and a beta of 1.20. The firm has a 50 day simple moving average of $12.65 and a two-hundred day simple moving average of $12.29. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18. O-I Glass has a twelve month low of $10.08 and a twelve month high of $17.58.

O-I Glass (NYSE:OI - Get Free Report) last announced its quarterly 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). O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the company earned $0.80 earnings per share. The firm's revenue was down 3.7% compared to the same quarter last year. On average, research analysts predict that O-I Glass will post 0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of OI. Texas Permanent School Fund Corp boosted its stake in shares of O-I Glass by 1.1% during the 1st quarter. Texas Permanent School Fund Corp now owns 135,154 shares of the industrial products company's stock worth $2,242,000 after buying an additional 1,465 shares during the last quarter. Sei Investments Co. grew its stake in O-I Glass by 125.3% in the first quarter. Sei Investments Co. now owns 66,948 shares of the industrial products company's stock valued at $1,111,000 after purchasing an additional 37,227 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of O-I Glass during the 1st quarter worth approximately $39,000. ProShare Advisors LLC raised its stake in shares of O-I Glass by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 31,330 shares of the industrial products company's stock worth $520,000 after purchasing an additional 2,159 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of O-I Glass by 29.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 57,449 shares of the industrial products company's stock valued at $953,000 after buying an additional 13,080 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors.

O-I Glass Company Profile

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.