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

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

Analysts Set New Price Targets

Several research analysts have recently commented on OI shares. Barclays boosted their price target on O-I Glass from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 13th. StockNews.com lowered O-I Glass from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. UBS Group assumed coverage on O-I Glass in a research report on Tuesday, January 16th. They set a “buy” rating and a $26.00 target price on the stock. Citigroup lowered O-I Glass from a “buy” rating to a “neutral” rating and upped their target price for the company from $17.00 to $18.00 in a research report on Wednesday, January 3rd. Finally, Truist Financial reaffirmed a “buy” rating and set a $20.00 target price on shares of O-I Glass in a research report on Monday, March 25th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, O-I Glass presently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

O-I Glass Stock Performance

O-I Glass stock opened at $17.25 on Thursday. O-I Glass has a fifty-two week low of $13.56 and a fifty-two week high of $23.57. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 2.69. The business’s 50-day simple moving average is $16.07 and its two-hundred day simple moving average is $15.79.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. O-I Glass had a positive return on equity of 24.90% and a negative net margin of 1.45%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the business earned $0.38 earnings per share. The company’s revenue was down 3.1% compared to the same quarter last year. As a group, sell-side analysts forecast that O-I Glass will post 2.38 EPS for the current year.

Hedge Funds Weigh In On O-I Glass

A number of large investors have recently bought and sold shares of the business. Citigroup Inc. raised its holdings in shares of O-I Glass by 6.8% during the first quarter. Citigroup Inc. now owns 135,235 shares of the industrial products company’s stock valued at $1,783,000 after acquiring an additional 8,576 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of O-I Glass by 4.5% in the first quarter. PNC Financial Services Group Inc. now owns 74,856 shares of the industrial products company’s stock valued at $986,000 after purchasing an additional 3,197 shares during the last quarter. Natixis Advisors L.P. increased its holdings in shares of O-I Glass by 28.0% in the first quarter. Natixis Advisors L.P. now owns 23,746 shares of the industrial products company’s stock valued at $313,000 after purchasing an additional 5,200 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of O-I Glass by 52.5% in the first quarter. MetLife Investment Management LLC now owns 78,076 shares of the industrial products company’s stock valued at $1,029,000 after purchasing an additional 26,893 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of O-I Glass by 2.8% in the first quarter. Rhumbline Advisers now owns 413,166 shares of the industrial products company’s stock valued at $5,446,000 after purchasing an additional 11,382 shares during the last quarter. Institutional investors and hedge funds own 97.24% of the company’s stock.

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.