Last Updated: 10 Nov 2024
Executive Summary
O-I Glass Inc. (OI) is a leading manufacturer of glass containers for the food and beverage industry. The company has a strong global presence with operations in the Americas, Europe, and Asia Pacific. OI has faced challenges in recent years due to the COVID-19 pandemic and inflationary pressures, but the company is expected to benefit from a recovery in the food and beverage industry and cost-cutting measures.
Company Overview
OI was founded in 1903 and is headquartered in Perrysburg, Ohio. The company manufactures a wide range of glass containers, including bottles, jars, and vials. OI's customers include major food and beverage companies such as Coca-Cola, PepsiCo, and Anheuser-Busch InBev.
Fundamental Analysis
OI's financial performance has been mixed in recent years. The company reported a loss per share of $2.73 in the latest quarter, compared to a loss of $2.65 per share in the same quarter last year. Revenue declined by 3.7% to $6.64 billion. OI has been impacted by the COVID-19 pandemic, which has led to a decline in demand for glass containers. The company has also been facing inflationary pressures, which have increased its costs.
Despite the challenges, OI is expected to benefit from a recovery in the food and beverage industry. The company is also implementing cost-cutting measures, which are expected to improve its profitability.
Technical Analysis
OI's stock price has been trading in a range between $10.08 and $17.58 over the past 52 weeks. The stock is currently trading at $12.8, which is below its 50-day and 200-day moving averages. The technical indicators suggest that OI's stock is oversold and could be due for a rebound.
Short Term Outlook
OI's stock is expected to trade in a range between $12 and $14 in the short term. The company is facing challenges, but it is expected to benefit from a recovery in the food and beverage industry and cost-cutting measures.
Long Term Outlook
OI's stock is expected to trade in a range between $14 and $16 in the long term. The company is a leader in the glass container industry and is expected to benefit from the growth of the food and beverage industry.
Analyst Recommendations
Analysts are mixed on OI's stock. Five analysts have a buy rating on the stock, while one analyst has a hold rating. The average analyst target price is $15.
