O-I Glass Sees Unusually Large Options Volume (NYSE:OI)

by · The Markets Daily

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OI. Truist Financial reissued a “buy” rating and set a $16.00 target price (down from $17.00) on shares of O-I Glass in a report on Thursday, August 1st. UBS Group dropped their price objective on shares of O-I Glass from $26.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Robert W. Baird reduced their target price on shares of O-I Glass from $22.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Citigroup lowered their price target on shares of O-I Glass from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, July 8th. Finally, Royal Bank of Canada reduced their price objective on O-I Glass from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, O-I Glass has a consensus rating of “Moderate Buy” and an average target price of $16.25.

Get Our Latest Report on O-I Glass

O-I Glass Stock Up 3.3 %

Shares of NYSE OI opened at $13.42 on Friday. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.26 and a quick ratio of 0.75. O-I Glass has a one year low of $10.08 and a one year high of $18.50. The firm’s 50 day simple moving average is $12.08 and its two-hundred day simple moving average is $13.15. The stock has a market capitalization of $2.09 billion, a P/E ratio of -8.44, a PEG ratio of 1.72 and a beta of 1.17.

O-I Glass (NYSE:OI – Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share (EPS) 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 the consensus estimate of $1.77 billion. O-I Glass had a negative net margin of 4.32% and a positive return on equity of 15.64%. O-I Glass’s revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 earnings per share. As a group, analysts expect that O-I Glass will post 1.13 EPS for the current fiscal year.

Insider Activity

In other news, Director John Humphrey acquired 15,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of $11.30 per share, for a total transaction of $169,500.00. Following the completion of the transaction, the director now directly owns 84,227 shares in the company, valued at $951,765.10. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.49% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On O-I Glass

Institutional investors and hedge funds have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. lifted its stake in shares of O-I Glass by 1,337.5% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 2,675 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of O-I Glass during the first quarter valued at about $33,000. TFO Wealth Partners LLC boosted its holdings in shares of O-I Glass by 24,311.1% in the 4th quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock valued at $36,000 after buying an additional 2,188 shares in the last quarter. FinTrust Capital Advisors LLC purchased a new position in O-I Glass in the first quarter worth $38,000. Finally, Headlands Technologies LLC acquired a new position in shares of O-I Glass during the first quarter worth $39,000. Institutional investors own 97.24% of the company’s stock.

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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