Stock Traders Purchase Large Volume of O-I Glass Call Options (NYSE:OI)

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O-I Glass, Inc. (NYSE:OIGet Rating) was the recipient of unusually large options trading on Wednesday. Traders acquired 2,354 call options on the stock. This is an increase of approximately 3,039% compared to the average volume of 75 call options.

O-I Glass stock opened at $16.90 on Thursday. O-I Glass has a 12-month low of $10.64 and a 12-month high of $19.46. The company has a quick ratio of 0.94, a current ratio of 1.42 and a debt-to-equity ratio of 4.19. The business’s 50-day moving average price is $13.76 and its two-hundred day moving average price is $12.95. The stock has a market cap of $2.64 billion, a PE ratio of 8.13, a P/E/G ratio of 1.17 and a beta of 1.46.

O-I Glass (NYSE:OIGet Rating) last released its earnings results on Monday, April 25th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. O-I Glass had a return on equity of 43.72% and a net margin of 5.10%. The firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the previous year, the business posted $0.35 earnings per share. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, analysts expect that O-I Glass will post 2.04 earnings per share for the current year.

A number of research analysts have recently commented on OI shares. TheStreet raised shares of O-I Glass from a “c-” rating to a “b-” rating in a research report on Monday, April 25th. Barclays raised their price objective on O-I Glass from $14.00 to $15.00 in a research report on Monday, May 2nd. Citigroup cut their price objective on O-I Glass from $16.00 to $14.00 in a research report on Friday, April 8th. Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and increased their price objective for the company from $15.00 to $19.00 in a research report on Friday, May 27th. Finally, StockNews.com raised shares of O-I Glass from a “hold” rating to a “buy” rating in a research report on Friday, May 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $16.20.

Institutional investors have recently modified their holdings of the business. Marshall Wace North America L.P. bought a new position in O-I Glass in the first quarter valued at about $25,000. Prospera Financial Services Inc acquired a new position in O-I Glass in the 1st quarter valued at approximately $33,000. Lazard Asset Management LLC acquired a new position in O-I Glass in the 1st quarter valued at approximately $34,000. First Quadrant LLC CA acquired a new position in O-I Glass in the 1st quarter valued at approximately $40,000. Finally, Aaron Wealth Advisors LLC acquired a new position in O-I Glass in the 1st quarter valued at approximately $378,000. Hedge funds and other institutional investors own 91.04% of the company’s stock.

O-I Glass Company Profile (Get Rating)

O-I Glass, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in the Americas, Europe, and the Asia Pacific. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. It is also involved in the production of glass packaging for various food items, soft drinks, tea, juices, and pharmaceuticals.

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