Stock traders buy large volume of call options on OI Glass (NYSE: OI)

OI Glass, Inc. (NYSE: OI – Get Rating) was the recipient of unusually heavy options trading activity on Wednesday. Traders acquired 2,354 call options on the company. This represents a 3,039% increase from the typical daily volume of 75 call options.

Institutional investors have recently changed their stake in the company. Prospera Financial Services Inc acquired a new position in OI Glass during Q1 worth approximately $33,000. Lazard Asset Management LLC bought a new stake in OI Glass stock in Q1 worth $34,000. First Quadrant LLC CA purchased a new equity stake in OI Glass in Q1 valued at $40,000. Barrow Hanley Mewhinney & Strauss LLC increased its holdings of OI Glass shares by 35.7% in Q4. Barrow Hanley Mewhinney & Strauss LLC now owns 5,700 shares of the industrial products company valued at $69,000 after acquiring an additional 1,500 shares in the last quarter. Finally, National Bank of Canada FI acquired a new stake in the shares of OI Glass in the 4th quarter at a value of $119,000. Institutional investors and hedge funds hold 91.04% of the company’s shares.

NYSE OI opened at $14.38 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.42 and a debt ratio of 4.19. The company has a market capitalization of $2.25 billion, a PE ratio of 6.91, a growth price-earnings ratio of 1.14 and a beta of 1.44. The company has a 50-day moving average price of $14.79 and a 200-day moving average price of $13.51. OI Glass has a 52-week low of $10.64 and a 52-week high of $17.94.

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OI Glass (NYSE:OI – Get Rating) last released its quarterly earnings data on Monday, April 25. The industrial products company reported EPS of $0.56 for the quarter, beating the consensus estimate of $0.41 by $0.15. The company posted revenue of $1.70 billion in the quarter, against analyst estimates of $1.54 billion. OI Glass had a net margin of 5.10% and a return on equity of 43.72%. OI Glass revenue increased 13.3% year-over-year. In the same quarter a year earlier, the company posted EPS of $0.35. On average, equity research analysts expect OI Glass to post earnings per share of 2.07 for the current fiscal year.

A number of research companies have weighed in on OI recently. Deutsche Bank Aktiengesellschaft raised its price target on OI Glass shares from $14.00 to $16.00 in a Friday, June 10 report. Bank of America upgraded OI Glass shares from a “neutral” rating to a “buy” rating and raised its price target for the stock from $15.00 to $19.00 in a rating of research from Friday, May 27. Barclays raised its price target on OI Glass shares from $14.00 to $15.00 in a Monday May 2 research note. StockNews.com downgraded OI Glass shares from a “hold” rating to a “buy” rating in a Friday, May 6 research note. Finally, TheStreet downgraded OI Glass shares from a “c-” rating to a “b-” rating in a Monday, April 25 research note. One equity research analyst has assigned the stock a sell rating, four have issued a hold rating and six have assigned the stock a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $16.55.

About OI Glass (Get an evaluation)

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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