Stock traders are buying a high volume of call options on OI Glass (NYSE: OI)


OI Glass, Inc. (NYSE: OI – Get Rating) was the target of unusual options trades on Wednesday. Investors bought 2,354 call options on the company. This is an increase of approximately 3,039% from the average daily volume of 75 call options.

OI has been the subject of a number of research analyst reports. Barclays raised its target price on OI Glass from $14.00 to $15.00 in a Monday May 2 report. StockNews.com upgraded OI Glass from a “hold” rating to a “buy” rating in a Friday, May 6 report. TheStreet upgraded OI Glass from a “c-” rating to a “b-” rating in a Monday, April 25 report. Bank of America downgraded OI Glass from a “buy” rating to a “neutral” rating and set a price target of $14.00 for the company. in a research report on Thursday, April 14. Finally, Citigroup lowered its price target on OI Glass from $16.00 to $14.00 in a Friday, April 8 research report. One research analyst rated the stock with a sell rating, six gave the company a hold rating and five gave the company a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.70.

Shares of OI Glass opened at $13.97 on Thursday. The company has a market capitalization of $2.18 billion, a price-earnings ratio of 6.72, a PEG ratio of 0.91 and a beta of 1.46. OI Glass has a fifty-two week low of $10.64 and a fifty-two week high of $19.46. The company has a debt ratio of 4.19, a quick ratio of 0.94 and a current ratio of 1.42. The stock has a 50-day moving average of $13.15 and a 200-day moving average of $12.76.

OI Glass (NYSE:OI – Get Rating) last released its quarterly results on Monday, April 25. The industrial products company reported EPS of $0.56 for the quarter, beating the consensus estimate of $0.39 by $0.17. OI Glass had a return on equity of 43.72% and a net margin of 5.10%. The company posted revenue of $1.70 billion in the quarter, against analyst estimates of $1.54 billion. During the same period last year, the company posted earnings per share of $0.35. The company’s quarterly revenue increased 13.3% year over year. Analysts expect OI Glass to post an EPS of 2.04 for the current year.

Several hedge funds and other institutional investors have recently changed their positions in OI. Weiss Multi Strategy Advisers LLC acquired a new stake in OI Glass in the first quarter valued at $1,443,000. Penn Capital Management Company LLC increased its stake in OI Glass by 1.4% in the first quarter. Penn Capital Management Company LLC now owns 625,938 shares of the industrial products company valued at $7,502,000 after purchasing an additional 8,761 shares last quarter. Birch Grove Capital LP increased its stake in OI Glass by 9.4% in the first quarter. Birch Grove Capital LP now owns 183,200 shares of the industrial products company valued at $2,415,000 after buying an additional 15,750 shares last quarter. Quantbot Technologies LP increased its stake in OI Glass by 295.7% in the first quarter. Quantbot Technologies LP now owns 46,594 shares of the industrial products company valued at $614,000 after buying 34,818 additional shares last quarter. Finally, Guggenheim Capital LLC increased its stake in OI Glass by 35.4% in the first quarter. Guggenheim Capital LLC now owns 48,062 shares of the industrial products company valued at $634,000 after buying an additional 12,572 shares last quarter. Institutional investors and hedge funds hold 91.04% of the company’s shares.

OI Glass Company Profile (Get an assessment)

OI Glass, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in America, Europe and 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 products, soft drinks, tea, juice and pharmaceutical products.

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