Owens Corning (NYSE:OC) Price Target Raised to $198.00 at The Goldman Sachs Group

by · The Markets Daily

Owens Corning (NYSE:OC – Free Report) had its price target boosted by The Goldman Sachs Group from $178.00 to $198.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the construction company’s stock.

OC has been the subject of a number of other research reports. UBS Group lifted their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a report on Thursday. Barclays decreased their price target on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. Royal Bank of Canada raised their price objective on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday. Evercore ISI lifted their target price on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research report on Thursday. Finally, Benchmark reissued a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $192.62.

View Our Latest Stock Report on Owens Corning

Owens Corning Trading Up 1.6 %

Shares of OC traded up $3.02 during mid-day trading on Thursday, reaching $190.44. 794,822 shares of the company’s stock traded hands, compared to its average volume of 683,482. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. The stock’s 50-day moving average is $175.40 and its two-hundred day moving average is $173.46. Owens Corning has a 12 month low of $121.08 and a 12 month high of $193.93. The stock has a market cap of $16.56 billion, a P/E ratio of 16.24, a P/E/G ratio of 2.20 and a beta of 1.41.

Owens Corning (NYSE:OC – Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.01 by $0.37. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the prior year, the company posted $4.15 EPS. Owens Corning’s quarterly revenue was up 22.9% on a year-over-year basis. Research analysts forecast that Owens Corning will post 15.34 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a yield of 1.26%. Owens Corning’s dividend payout ratio is presently 20.32%.

Insider Activity

In other news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the transaction, the insider now directly owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the sale, the insider now directly owns 60,130 shares in the company, valued at $10,222,100. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the transaction, the insider now owns 57,079 shares in the company, valued at $10,074,443.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Institutional Trading of Owens Corning

Large investors have recently made changes to their positions in the business. Retirement Guys Formula LLC grew its stake in shares of Owens Corning by 3.1% during the 3rd quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock worth $342,000 after purchasing an additional 58 shares during the period. PFG Investments LLC boosted its stake in shares of Owens Corning by 3.9% during the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock worth $323,000 after acquiring an additional 68 shares in the last quarter. Tobam grew its position in shares of Owens Corning by 38.0% during the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after acquiring an additional 73 shares during the period. First Bank & Trust increased its stake in shares of Owens Corning by 2.0% in the 3rd quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock valued at $646,000 after purchasing an additional 73 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in Owens Corning by 24.9% in the 1st quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock worth $65,000 after purchasing an additional 78 shares during the period. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Company Profile

(Get Free Report)

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.

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