Owens Corning (NYSE:OC) Receives $184.23 Consensus Target Price from Analysts

by · The Cerbat Gem

Shares of Owens Corning (NYSE:OC – Get Free Report) have received a consensus rating of “Moderate Buy” from the fourteen research firms that are currently covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $186.69.

A number of equities research analysts have weighed in on OC shares. Wells Fargo & Company lifted their price objective on Owens Corning from $165.00 to $175.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Evercore ISI decreased their price target on Owens Corning from $188.00 to $175.00 and set an “in-line” rating on the stock in a research note on Wednesday, August 7th. Loop Capital boosted their price target on Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, Citigroup raised Owens Corning from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $178.00 to $191.00 in a research note on Thursday, July 11th.

Get Our Latest Stock Report on Owens Corning

Owens Corning Stock Performance

NYSE OC opened at $180.44 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91. Owens Corning has a 52-week low of $109.95 and a 52-week high of $191.13. The business’s 50-day moving average price is $167.02 and its 200 day moving average price is $171.16. The firm has a market cap of $15.69 billion, a P/E ratio of 15.28, a P/E/G ratio of 3.62 and a beta of 1.41.

Owens Corning (NYSE:OC – Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, beating analysts’ consensus estimates of $4.37 by $0.27. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the previous year, the company earned $4.22 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities research analysts expect that Owens Corning will post 15.38 earnings per share for the current year.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 18th will be issued a $0.60 dividend. The ex-dividend date is Friday, October 18th. This represents a $2.40 annualized dividend and a yield of 1.33%. Owens Corning’s dividend payout ratio (DPR) is presently 20.32%.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the transaction, the insider now directly owns 60,130 shares in the company, valued at approximately $10,222,100. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Marcio A. Sandri sold 3,050 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the sale, the insider now directly owns 60,130 shares of the company’s stock, valued at $10,222,100. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing 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 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 sale, the insider now directly owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Institutional Trading of Owens Corning

Institutional investors have recently added to or reduced their stakes in the business. MV Capital Management Inc. boosted its position in Owens Corning by 112.9% during the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after purchasing an additional 79 shares during the period. ST Germain D J Co. Inc. boosted its position in Owens Corning by 794.1% during the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after purchasing an additional 135 shares during the period. NBC Securities Inc. purchased a new position in Owens Corning in the 1st quarter valued at about $26,000. Riverview Trust Co purchased a new position in Owens Corning in the 1st quarter valued at about $28,000. Finally, ORG Partners LLC purchased a new position in Owens Corning in the 1st quarter valued at about $31,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

About Owens Corning

(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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