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

Shares of Owens Corning Inc (NYSE:OC) have earned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $151.5833.

A number of equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Owens Corning in a research report on Monday, December 29th. Citigroup lowered their price objective on Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Evercore reduced their target price on Owens Corning from $121.00 to $117.00 and set an “in-line” rating on the stock in a research report on Thursday, December 4th. Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Barclays boosted their price target on Owens Corning from $130.00 to $138.00 and gave the stock an “overweight” rating in a research note on Thursday, January 15th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of OC. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Owens Corning in the second quarter worth $26,000. Rexford Capital Inc. purchased a new stake in shares of Owens Corning during the second quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Owens Corning in the 2nd quarter valued at $30,000. Vermillion & White Wealth Management Group LLC increased its position in shares of Owens Corning by 149.4% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 222 shares of the construction company’s stock valued at $31,000 after acquiring an additional 133 shares during the period. Finally, Itau Unibanco Holding S.A. purchased a new position in Owens Corning in the 4th quarter worth $29,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Up 3.3%

Shares of Owens Corning stock opened at $106.48 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.26 and a debt-to-equity ratio of 1.20. The company has a market cap of $8.56 billion, a P/E ratio of -16.64, a PEG ratio of 1.67 and a beta of 1.35. The firm’s 50 day moving average price is $122.88 and its 200-day moving average price is $124.82. Owens Corning has a 52-week low of $97.53 and a 52-week high of $159.42.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, February 25th. The construction company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.26). The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Owens Corning had a negative net margin of 5.17% and a positive return on equity of 21.93%. The company’s revenue was down 16.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.22 EPS. On average, sell-side analysts predict that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Monday, March 9th will be paid a $0.79 dividend. The ex-dividend date is Monday, March 9th. This represents a $3.16 dividend on an annualized basis and a yield of 3.0%. Owens Corning’s dividend payout ratio (DPR) is -49.38%.

About Owens Corning

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.