Owens Corning (NYSE:OC) Given Consensus Rating of “Moderate Buy” by Analysts

Owens Corning (NYSE:OC) has been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $183.80.

A number of research firms have recently issued reports on OC. Loop Capital cut their target price on shares of Owens Corning from $203.00 to $180.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Royal Bank of Canada cut their target price on shares of Owens Corning from $199.00 to $184.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Wall Street Zen cut shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Wells Fargo & Company raised their target price on shares of Owens Corning from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, May 15th. Finally, Barclays cut their target price on shares of Owens Corning from $179.00 to $167.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th.

Owens Corning Trading Down 1.5%

Shares of NYSE:OC opened at $137.73 on Thursday. Owens Corning has a 12 month low of $123.41 and a 12 month high of $214.53. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The company’s fifty day simple moving average is $138.24 and its 200 day simple moving average is $160.00. The firm has a market cap of $11.71 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 1.88 and a beta of 1.34.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, May 7th. The construction company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.15. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter last year, the firm earned $3.40 earnings per share. The firm’s revenue for the quarter was up 25.4% compared to the same quarter last year. As a group, research analysts forecast that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning announced that its Board of Directors has initiated a share repurchase program on Wednesday, May 14th that permits the company to repurchase 12,000,000 outstanding shares. This repurchase authorization permits the construction company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Owens Corning

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Stratos Wealth Partners LTD. boosted its holdings in Owens Corning by 4.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock valued at $221,000 after acquiring an additional 53 shares in the last quarter. CoreCap Advisors LLC boosted its holdings in Owens Corning by 3.3% in the fourth quarter. CoreCap Advisors LLC now owns 1,789 shares of the construction company’s stock valued at $305,000 after acquiring an additional 57 shares in the last quarter. Retirement Guys Formula LLC boosted its holdings in Owens Corning by 3.1% in the fourth quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company’s stock valued at $341,000 after acquiring an additional 60 shares in the last quarter. IFP Advisors Inc boosted its holdings in Owens Corning by 35.6% in the fourth quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock valued at $40,000 after acquiring an additional 62 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Owens Corning by 2.5% in the fourth quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company’s stock valued at $439,000 after acquiring an additional 62 shares in the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Company Profile

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.