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

O-I Glass, Inc. (NYSE:OI) saw unusually large options trading on Wednesday. Stock investors purchased 2,354 call options on the company. This represents an increase of approximately 3,039% compared to the average daily volume of 75 call options.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Royal Bank of Canada dropped their target price on O-I Glass from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Robert W. Baird dropped their price objective on shares of O-I Glass from $22.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Citigroup raised their target price on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and upped their price target for the company from $14.00 to $16.00 in a report on Thursday. Finally, Truist Financial reiterated a “buy” rating and set a $16.00 price objective (down previously from $17.00) on shares of O-I Glass in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.63.

Insider Buying and Selling

In other news, Director John Humphrey purchased 15,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were acquired at an average price of $11.30 per share, for a total transaction of $169,500.00. Following the purchase, the director now owns 84,227 shares in the company, valued at $951,765.10. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.49% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Diversified Trust Co raised its position in O-I Glass by 2.0% during the third quarter. Diversified Trust Co now owns 49,596 shares of the industrial products company’s stock worth $651,000 after acquiring an additional 965 shares during the period. Mackenzie Financial Corp raised its position in shares of O-I Glass by 6.1% during the 2nd quarter. Mackenzie Financial Corp now owns 20,091 shares of the industrial products company’s stock worth $224,000 after purchasing an additional 1,162 shares during the last quarter. Bessemer Group Inc. lifted its stake in O-I Glass by 40.2% in the 1st quarter. Bessemer Group Inc. now owns 4,597 shares of the industrial products company’s stock valued at $76,000 after buying an additional 1,318 shares in the last quarter. Texas Permanent School Fund Corp boosted its holdings in O-I Glass by 1.1% in 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. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in O-I Glass by 8.7% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 21,281 shares of the industrial products company’s stock worth $357,000 after buying an additional 1,695 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Trading Up 2.9 %

Shares of O-I Glass stock opened at $13.10 on Friday. The firm has a 50-day simple moving average of $12.64 and a two-hundred day simple moving average of $12.74. The company has a debt-to-equity ratio of 2.85, a quick ratio of 0.75 and a current ratio of 1.26. O-I Glass has a fifty-two week low of $10.08 and a fifty-two week high of $17.58. The company has a market cap of $2.04 billion, a P/E ratio of -8.24, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. O-I Glass’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 EPS. As a group, equities analysts predict that O-I Glass will post 1.13 earnings per share for the current fiscal year.

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.