Owens Corning (NYSE:OC) Given New $192.00 Price Target at UBS Group

Owens Corning (NYSE:OC) had its target price hoisted by UBS Group from $169.00 to $192.00 in a research report released on Thursday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

A number of other research analysts have also commented on the company. Barclays lowered Owens Corning from an overweight rating to an equal weight rating and cut their target price for the company from $170.00 to $160.00 in a research note on Monday, February 12th. Citigroup upped their target price on Owens Corning from $150.00 to $169.00 and gave the company a neutral rating in a research note on Friday, April 5th. Royal Bank of Canada cut their target price on Owens Corning from $183.00 to $175.00 and set an outperform rating for the company in a research note on Thursday, February 15th. Truist Financial upped their target price on Owens Corning from $115.00 to $145.00 and gave the company a hold rating in a research note on Thursday, February 15th. Finally, Evercore ISI upped their price target on Owens Corning from $154.00 to $172.00 and gave the company an in-line rating in a research report on Thursday. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $168.21.

Owens Corning Trading Up 1.4 %

NYSE:OC opened at $167.30 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 1.17. Owens Corning has a fifty-two week low of $99.49 and a fifty-two week high of $173.65. The stock’s 50-day moving average is $158.86 and its two-hundred day moving average is $145.94. The stock has a market cap of $14.56 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 6.98 and a beta of 1.47.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, beating the consensus estimate of $3.04 by $0.55. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.77 EPS. As a group, equities research analysts forecast that Owens Corning will post 13.92 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Monday, March 4th were issued a $0.60 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.43%. Owens Corning’s payout ratio is presently 19.43%.

Insiders Place Their Bets

In other news, insider Gunner Smith sold 7,442 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $148.99, for a total value of $1,108,783.58. Following the completion of the sale, the insider now owns 36,140 shares of the company’s stock, valued at $5,384,498.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Paula Russell sold 3,765 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the sale, the executive vice president now owns 20,419 shares of the company’s stock, valued at $3,307,878. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gunner Smith sold 7,442 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $148.99, for a total value of $1,108,783.58. Following the sale, the insider now directly owns 36,140 shares of the company’s stock, valued at approximately $5,384,498.60. The disclosure for this sale can be found here. Insiders sold a total of 21,672 shares of company stock valued at $3,325,799 in the last 90 days. Corporate insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

Large investors have recently added to or reduced their stakes in the business. MV Capital Management Inc. boosted its holdings in Owens Corning by 112.9% in the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after acquiring an additional 79 shares in the last quarter. NBC Securities Inc. bought a new position in Owens Corning in the first quarter worth approximately $26,000. Contravisory Investment Management Inc. bought a new position in shares of Owens Corning in the fourth quarter valued at approximately $27,000. Bruce G. Allen Investments LLC bought a new position in shares of Owens Corning in the fourth quarter valued at approximately $27,000. Finally, Riverview Trust Co bought a new position in shares of Owens Corning in the first quarter valued at approximately $28,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

About Owens Corning

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.