Exchange Traders Buying Large Volume Of Call Options On OI Glass (NYSE: OI)
OI Glass, Inc. (NYSE: OI) was the target of unusually heavy options trading activity on Wednesday. Traders bought 2,354 call options on the stock. This represents an increase of 3,039% over the average daily volume of 75 call options.
OI traded down $ 0.10 during Thursday’s session, reaching $ 11.87. 447,442 shares of the company were traded, for an average volume of 1,259,817. OI Glass has a fifty-two week low of $ 10.64 and a fifty-two week high of $ 19.46. The company has a quick ratio of 0.94, a current ratio of 1.41, and a debt ratio of 8.51. The company has a 50-day moving average price of $ 12.11 and a 200-day moving average price of $ 14.14. The company has a market cap of $ 1.86 billion, a P / E ratio of 25.96, a PEG ratio of 0.36 and a beta of 1.72.
OI Glass (NYSE: OI) last released its quarterly results on Sunday, October 24. The industrials company reported earnings per share of $ 0.58 for the quarter, beating the Zacks’ consensus estimate by $ 0.52 by $ 0.06. OI Glass had a net margin of 1.23% and a return on equity of 69.39%. The company posted revenue of $ 1.61 billion for the quarter, compared to a consensus estimate of $ 1.62 billion. In the same quarter of the previous year, the company achieved earnings per share of $ 0.41. The company’s turnover is down 0.4% compared to the same quarter last year. As a group, research analysts predict that OI Glass will show 1.8 EPS for the current year.
Several analysts recently commented on the title. Royal Bank of Canada lowered its price target for OI Glass shares from $ 16.00 to $ 15.00 and established a “sector performance” rating for the company in a report released Thursday, October 28. Loop Capital began covering OI Glass shares in a research report on Tuesday, October 5. They set a “conservation” rating and a price target of $ 16.00 for the stock. TheStreet downgraded OI Glass shares from a “b-” rating to a “c” rating in a research report released on Monday, October 25. Truist assumed coverage of OI Glass shares in a research report on Monday, September 13. They set a “positive” rating and a price target of $ 20.00 on the stock. Finally, Wells Fargo & Company reissued a “sell” note and issued a price target of $ 13.00 on OI Glass shares in a research report on Friday, December 17. Two research analysts rated the stock with a sell rating, six issued a conservation rating, and four assigned a buy rating to the stock. According to data from MarketBeat.com, OI Glass has an average “Hold” rating and a consensus target price of $ 16.40.
Institutional investors and hedge funds have recently bought and sold shares in the company. FMR LLC increased its stake in OI Glass shares by 34.3% in the 2nd quarter. FMR LLC now owns 23,686,809 shares of the industrial products company valued at $ 386,805,000 after purchasing an additional 6,051,501 shares during the last quarter. Vanguard Group Inc. increased its stake in OI Glass shares by 4.2% in the 2nd quarter. Vanguard Group Inc. now owns 18,544,515 shares of the industrial products company valued at $ 302,833,000 after purchasing an additional 750,910 shares last quarter. State Street Corp increased its stake in OI Glass shares by 2.9% in the 2nd quarter. State Street Corp now owns 5,424,980 shares of the industrials company valued at $ 88,590,000 after purchasing an additional 151,366 shares in the last quarter. Geode Capital Management LLC increased its stake in OI Glass shares by 3.5% in the 2nd quarter. Geode Capital Management LLC now owns 2,569,698 shares of the industrial products company valued at $ 41,963,000 after purchasing an additional 86,672 shares in the last quarter. Finally, Private Management Group Inc. increased its stake in OI Glass shares by 0.6% in the 3rd quarter. Private Management Group Inc. now owns 2,409,902 shares of the industrial products company valued at $ 34,389,000 after purchasing an additional 14,054 shares in the last quarter. Hedge funds and other institutional investors hold 90.61% of the company’s shares.
OI Glass Company Profile
OI Glass, Inc. is engaged in the manufacture of glass products. It offers products to the food and beverage sectors. The company operates in the following geographic segments: Americas, Europe and Asia-Pacific. The company was founded in 1929 and is headquartered in Perrysburg, OH.
Further reading: What is the Dividend Aristocrat Index?
This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [email protected]
Should you invest $ 1,000 in OI Glass now?
Before you consider OI Glass, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts are quietly asking their clients to buy now before the wider market takes hold … and OI Glass was not on the list.
While OI Glass currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here