Stock traders buy large volume of OI glass call options (NYSE: OI)
OI Glass, Inc. (NYSE: OI – Get Rating) was the recipient of unusually heavy options trading activity on Wednesday. Investors bought 2,354 call options on the company. This is a 3,039% increase from the average volume of 75 call options.
A number of brokerages have recently released reports on IO. Citigroup lowered its price target on OI Glass shares from $16.00 to $14.00 in a Friday, April 8 report. Bank of America downgraded OI Glass shares from a “buy” rating to a “neutral” rating and set a price target of $14.00 for the stock. in a report on Thursday, April 14. Wells Fargo & Company upgraded OI Glass shares from an “underweight” to an “equally weighted” rating in a Wednesday, Jan. 12, report. Credit Suisse Group assumed coverage of OI Glass shares in a Friday, Jan. 28 research report. They issued an “outperform” rating and $18.00 price target on the stock. Finally, StockNews.com took over OI Glass stock coverage in a Thursday, March 31 research report. They issued a “buy” rating on the stock. One financial analyst gave the stock a sell rating, seven gave the company a hold rating and five gave the company a buy rating. According to data from MarketBeat, OI Glass currently has a consensus rating of “Hold” and a consensus price target of $15.90.
NYSE: OI opened at $13.73 on Thursday. The company has a market capitalization of $2.14 billion, a PE ratio of 15.09, a growth price-earnings ratio of 1.23 and a beta of 1.60. 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 5.75, a quick ratio of 0.92 and a current ratio of 1.36. The company has a 50-day moving average price of $12.85 and a 200-day moving average price of $12.86.
OI Glass (NYSE:OI – Get Rating) last released its quarterly earnings data on Tuesday, February 1. The industrial products company reported earnings per share of $0.36 for the quarter, beating consensus analyst estimates of $0.32 by $0.04. The company posted revenue of $1.59 billion in the quarter, versus analyst estimates of $1.52 billion. OI Glass had a return on equity of 54.60% and a net margin of 2.34%. The company’s quarterly revenue increased by 6.1% compared to the same quarter last year. In the same quarter a year earlier, the company posted earnings per share of $0.40. Research analysts predict that OI Glass will post an EPS of 1.92 for the current year.
Several large investors have recently increased or reduced their stake in OI. BlackRock Inc. increased its position in OI Glass by 3.9% during the fourth quarter. BlackRock Inc. now owns 24,456,848 shares of the industrial products company valued at $294,216,000 after purchasing an additional 927,124 shares during the period. State Street Corp raised its position in OI Glass by 4.6% in the fourth quarter. State Street Corp now owns 5,619,529 shares of the industrial products company valued at $67,603,000 after purchasing an additional 248,472 shares during the period. Private Management Group Inc. increased its position in OI Glass by 17.5% during the fourth quarter. Private Management Group Inc. now owns 2,832,385 shares of the industrial products company valued at $34,074,000 after purchasing an additional 422,483 shares during the period. Millennium Management LLC increased its position in OI Glass by 172.2% during the fourth quarter. Millennium Management LLC now owns 2,256,434 shares of the industrial products company valued at $27,145,000 after purchasing an additional 1,427,449 shares during the period. Finally, IPG Investment Advisors LLC increased its position in OI Glass by 9.9% during the fourth quarter. IPG Investment Advisors LLC now owns 1,996,567 shares of the industrial products company valued at $24,019,000 after purchasing an additional 180,310 shares during the period. 91.53% of the shares are held by hedge funds and other institutional investors.
OI Glass Company Profile (Get a rating)
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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