Owens Corning Inc (NYSE:OC) Receives $163.25 Average PT from Brokerages

Owens Corning Inc (NYSE:OC) has been assigned an average rating of “Moderate Buy” from the seventeen analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $163.25.

Several analysts recently issued reports on the company. Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Bank of America dropped their price target on Owens Corning from $140.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Owens Corning from $136.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Weiss Ratings upgraded shares of Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a report on Friday, May 8th.

Owens Corning Trading Down 0.7%

Shares of Owens Corning stock opened at $153.66 on Tuesday. Owens Corning has a fifty-two week low of $97.53 and a fifty-two week high of $159.91. 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 company has a market capitalization of $12.15 billion, a P/E ratio of -19.06, a P/E/G ratio of 2.33 and a beta of 1.32. The company has a fifty day moving average of $140.94 and a 200 day moving average of $126.52.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, August 5th. The construction company reported $3.93 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.84. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%.The business’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the firm earned $4.21 earnings per share. On average, sell-side analysts anticipate that Owens Corning will post 9.9 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 6th. Shareholders of record on Monday, July 20th were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Monday, July 20th. Owens Corning’s payout ratio is currently -39.21%.

Insider Buying and Selling

In other Owens Corning news, insider Rachel Barthelemy Marcon sold 700 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total value of $84,497.00. Following the sale, the insider owned 15,848 shares in the company, valued at $1,913,012.08. The trade was a 4.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Caitlin John LLC purchased a new stake in shares of Owens Corning in the second quarter worth about $83,000. Public Employees Retirement System of Ohio bought a new position in Owens Corning during the second quarter valued at approximately $4,317,000. Proficio Capital Partners LLC purchased a new position in Owens Corning during the 2nd quarter valued at approximately $299,000. Corient Private Wealth LP purchased a new position in Owens Corning during the 2nd quarter valued at approximately $4,787,000. Finally, Bank of America Corp DE bought a new stake in Owens Corning in the 2nd quarter worth approximately $133,685,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

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.