Owens Corning Inc (NYSE:OC) Receives $165.31 Average Price Target from Brokerages

Owens Corning Inc (NYSE:OC) has been given an average recommendation of “Moderate Buy” by the eighteen brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation, nine have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $164.1538.

A number of research analysts have weighed in on OC shares. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Wednesday, July 15th. Truist Financial set a $198.00 price objective on Owens Corning in a research note on Thursday, August 6th. Barclays raised their target price on Owens Corning from $170.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Royal Bank Of Canada increased their price target on Owens Corning from $148.00 to $172.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th. Finally, Wall Street Zen raised Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, August 8th.

Insider Activity at Owens Corning

In related news, insider Rachel Barthelemy Marcon sold 900 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $144.07, for a total value 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 trade represents a 4.03% decrease in their position. The transaction was disclosed in a 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. Insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Owens Corning

A number of large investors have recently made changes to their positions in the stock. HM Payson & Co. lifted its holdings in Owens Corning by 203.6% during the 2nd quarter. HM Payson & Co. now owns 167 shares of the construction company’s stock worth $27,000 after purchasing an additional 112 shares in the last quarter. Fiduciary Financial Advisors bought a new stake in shares of Owens Corning during the second quarter valued at about $35,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Owens Corning in the fourth quarter worth about $29,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Owens Corning in the first quarter valued at approximately $30,000. Finally, NBH Bank purchased a new position in Owens Corning during the second quarter valued at approximately $47,000. 88.40% of the stock is owned by institutional investors.

Owens Corning Stock Up 3.5%

Shares of NYSE:OC opened at $132.01 on Friday. The stock has a market cap of $10.44 billion, a price-to-earnings ratio of -16.38, a PEG ratio of 1.91 and a beta of 1.32. The business’s 50 day moving average is $143.46 and its 200 day moving average is $127.76. Owens Corning has a 12-month low of $97.53 and a 12-month high of $159.91. The company has a quick ratio of 0.67, a current ratio of 1.16 and a debt-to-equity ratio of 1.10.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, August 5th. The construction company reported $3.93 earnings per share for the quarter, beating 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 business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period last year, the business earned $4.21 EPS. The business’s revenue was up .3% on a year-over-year basis. On average, sell-side analysts forecast that Owens Corning will post 9.94 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 6th. Stockholders of record on Monday, July 20th were given a $0.79 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $3.16 annualized dividend and a dividend yield of 2.4%. Owens Corning’s payout ratio is -39.21%.

About Owens Corning

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 materials and glass-fiber composites designed to improve energy efficiency, durability and structural performance.

The company’s insulation products include fiberglass, mineral wool and foam insulation, as well as related air-sealing and weatherization products. Its roofing business provides asphalt shingles, roofing components and other solutions for residential and commercial applications.