Owens Corning (NYSE:OC) Price Target Raised to $172.00

Owens Corning (NYSE:OC) had its target price hoisted by UBS Group from $160.00 to $172.00 in a report released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

A number of other equities analysts have also recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Owens Corning from $157.00 to $113.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Argus raised shares of Owens Corning to a “strong-buy” rating in a research note on Wednesday, January 14th. Wells Fargo & Company boosted their price objective on Owens Corning from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 11th. Citigroup cut their target price on Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Finally, Evercore cut their price objective on shares of Owens Corning from $121.00 to $117.00 and set an “in-line” rating for the company in a research report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and an average target price of $151.58.

Owens Corning Price Performance

Shares of OC opened at $121.99 on Thursday. The company’s fifty day moving average price is $123.51 and its 200-day moving average price is $127.56. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.26 and a quick ratio of 0.86. The firm has a market capitalization of $9.81 billion, a PE ratio of -19.06, a price-to-earnings-growth ratio of 2.57 and a beta of 1.36. Owens Corning has a 1-year low of $97.53 and a 1-year high of $159.42.

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

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Monday, March 9th will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, March 9th. Owens Corning’s dividend payout ratio is -49.38%.

Institutional Investors Weigh In On Owens Corning

A number of hedge funds have recently added to or reduced their stakes in the business. Twin Peaks Wealth Advisors LLC purchased a new stake in Owens Corning during the 2nd quarter worth about $26,000. Rexford Capital Inc. purchased a new stake in shares of Owens Corning during the second quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Owens Corning in the second quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC lifted its stake in Owens Corning by 149.4% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 222 shares of the construction company’s stock worth $31,000 after acquiring an additional 133 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in Owens Corning during the 4th quarter worth approximately $29,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

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.