Owens Corning Inc (NYSE:OC) Stock Has Average Target Price of $164.15 According to Analysts

Shares of Owens Corning Inc (NYSE:OC) have been given an average rating of “Moderate Buy” by the eighteen research firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation, eight have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $157.62.

A number of research analysts recently weighed in on the stock. Zacks Research upgraded shares of Owens Corning from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 15th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research note on Wednesday, July 15th. Weiss Ratings reissued a “sell (d+)” rating on shares of Owens Corning in a research note on Monday, September 21st. Barclays reduced their price objective on shares of Owens Corning from $177.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, The Goldman Sachs Group boosted their target price on shares of Owens Corning from $141.00 to $159.00 and gave the stock a “neutral” rating in a report on Friday, July 10th.

Owens Corning Price Performance

NYSE OC opened at $119.80 on Wednesday. The company has a market capitalization of $9.47 billion, a PE ratio of -14.86, a price-to-earnings-growth ratio of 1.90 and a beta of 1.32. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.67 and a current ratio of 1.16. The business’s fifty day moving average is $136.71 and its 200 day moving average is $128.86. Owens Corning has a fifty-two week low of $97.53 and a fifty-two week high of $159.91.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, August 5th. The construction company reported $3.93 EPS for the quarter, topping the consensus estimate of $3.09 by $0.84. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%.The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter last year, the company earned $4.21 earnings per share. The business’s revenue for the quarter was up .3% compared to the same quarter last year. Sell-side analysts predict that Owens Corning will post 9.89 earnings per share for the current year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Monday, October 19th will be given a dividend of $0.79 per share. The ex-dividend date is Monday, October 19th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.6%. Owens Corning’s dividend payout ratio (DPR) is presently -39.21%.

Insider Activity at Owens Corning

In related news, insider Rachel Barthelemy Marcon sold 900 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $144.07, for a total transaction of $129,663.00. Following the completion of the transaction, the insider directly owned 21,449 shares of the company’s stock, valued at approximately $3,090,157.43. This represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Versant Capital Management Inc grew its stake in shares of Owens Corning by 16.0% in the 3rd quarter. Versant Capital Management Inc now owns 1,180 shares of the construction company’s stock worth $138,000 after buying an additional 163 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Owens Corning by 12.4% in the 2nd quarter. QRG Capital Management Inc. now owns 15,096 shares of the construction company’s stock valued at $2,400,000 after acquiring an additional 1,670 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Owens Corning by 42.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,339 shares of the construction company’s stock valued at $531,000 after acquiring an additional 1,001 shares during the last quarter. Cidel Asset Management Inc. purchased a new position in Owens Corning in the second quarter worth about $271,000. Finally, Integrated Wealth Concepts LLC grew its position in Owens Corning by 39.3% in the second quarter. Integrated Wealth Concepts LLC now owns 10,344 shares of the construction company’s stock worth $1,644,000 after acquiring an additional 2,917 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 (NYSE:OC) is a global building materials company that develops and manufactures products used in residential, commercial and industrial construction. Its portfolio includes insulation, roofing and composite materials designed to improve energy efficiency, weather protection, durability and structural performance.

The company’s insulation business offers products such as fiberglass and mineral wool insulation, along with related air-sealing and acoustic solutions. Its roofing operations produce shingles, underlayment and other components for residential and commercial roofing systems.