Owens Corning Inc (NYSE:OC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Owens Corning Inc (NYSE:OC) have been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $144.8182.

A number of equities research analysts have recently commented on the company. Evercore set a $139.00 price objective on Owens Corning in a research report on Thursday, May 7th. Bank of America cut their price objective on Owens Corning from $140.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Zacks Research upgraded Owens Corning from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Barclays increased their price objective on Owens Corning from $135.00 to $144.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Finally, UBS Group increased their price objective on Owens Corning from $160.00 to $172.00 and gave the company a “buy” rating in a research report on Thursday, February 26th.

Insiders Place Their Bets

In other news, insider Rachel Barthelemy Marcon sold 700 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $120.71, for a total transaction of $84,497.00. Following the completion of the sale, the insider owned 15,848 shares in the company, valued at approximately $1,913,012.08. This represents a 4.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mari Doerfler sold 1,926 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $120.92, for a total value of $232,891.92. Following the sale, the vice president owned 3,093 shares of the company’s stock, valued at $374,005.56. This trade represents a 38.37% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Owens Corning

A number of hedge funds have recently modified their holdings of OC. Ashton Thomas Private Wealth LLC raised its holdings in shares of Owens Corning by 231.4% during the third quarter. Ashton Thomas Private Wealth LLC now owns 48,843 shares of the construction company’s stock worth $6,909,000 after acquiring an additional 34,106 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Owens Corning by 99.4% during the third quarter. JPMorgan Chase & Co. now owns 911,334 shares of the construction company’s stock worth $128,917,000 after acquiring an additional 454,382 shares in the last quarter. Caprock Group LLC purchased a new stake in shares of Owens Corning during the third quarter worth $1,742,000. National Pension Service raised its holdings in shares of Owens Corning by 25.5% during the third quarter. National Pension Service now owns 95,495 shares of the construction company’s stock worth $13,509,000 after acquiring an additional 19,375 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Owens Corning by 46.0% during the third quarter. Federated Hermes Inc. now owns 137,432 shares of the construction company’s stock worth $19,441,000 after acquiring an additional 43,320 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Performance

Shares of NYSE OC opened at $122.74 on Thursday. The stock has a fifty day moving average price of $116.21 and a two-hundred day moving average price of $116.78. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.24. The firm has a market cap of $9.88 billion, a P/E ratio of -18.57, a PEG ratio of 2.28 and a beta of 1.34. Owens Corning has a 1 year low of $97.53 and a 1 year high of $159.42.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.21. The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.18 billion. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the company posted $2.97 EPS. Research analysts forecast that Owens Corning will post 9.53 EPS for the current fiscal year.

Owens Corning Company Profile

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.