Owens Corning Inc (NYSE:OC) Stock Has Average Target Price of $164.15 According to Brokerages

Owens Corning Inc (NYSE:OC) has been given an average recommendation of “Moderate Buy” by the eighteen analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and three have issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $163.54.

A number of research analysts have recently commented on OC shares. Benchmark reissued a “hold” rating on shares of Owens Corning in a report on Wednesday, July 15th. Royal Bank Of Canada upped their target price on Owens Corning from $148.00 to $172.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Wells Fargo & Company reduced their price objective on shares of Owens Corning from $172.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, September 11th. Zacks Research raised shares of Owens Corning from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 15th. Finally, Citigroup raised their target price on shares of Owens Corning from $149.00 to $177.00 and gave the company a “buy” rating in a research note on Friday, August 7th.

Insider Activity at Owens Corning

In other Owens Corning news, insider Rachel Barthelemy Marcon sold 900 shares of Owens Corning stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $144.07, for a total value of $129,663.00. Following the transaction, the insider directly owned 21,449 shares of the company’s stock, valued at $3,090,157.43. The trade was a 4.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.92% of the company’s stock.

Institutional Trading of Owens Corning

Institutional investors have recently modified their holdings of the company. Versant Capital Management Inc raised its position in shares of Owens Corning by 16.0% in the 3rd quarter. Versant Capital Management Inc now owns 1,180 shares of the construction company’s stock valued at $138,000 after acquiring an additional 163 shares during the period. QRG Capital Management Inc. grew its holdings in Owens Corning by 12.4% during the second quarter. QRG Capital Management Inc. now owns 15,096 shares of the construction company’s stock valued at $2,400,000 after purchasing an additional 1,670 shares during the period. Sequoia Financial Advisors LLC increased its stake in Owens Corning by 42.8% in the second quarter. Sequoia Financial Advisors LLC now owns 3,339 shares of the construction company’s stock valued at $531,000 after purchasing an additional 1,001 shares in the last quarter. Cidel Asset Management Inc. acquired a new stake in Owens Corning in the second quarter worth $271,000. Finally, Integrated Wealth Concepts LLC raised its holdings in Owens Corning by 39.3% in the second quarter. Integrated Wealth Concepts LLC now owns 10,344 shares of the construction company’s stock worth $1,644,000 after purchasing an additional 2,917 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Trading Up 1.1%

NYSE:OC opened at $118.37 on Wednesday. The stock has a fifty day simple moving average of $137.70 and a 200 day simple moving average of $128.57. The firm has a market capitalization of $9.36 billion, a price-to-earnings ratio of -14.69, a price-to-earnings-growth ratio of 1.89 and a beta of 1.32. Owens Corning has a 1-year low of $97.53 and a 1-year 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 announced its earnings results on Wednesday, August 5th. The construction company reported $3.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.84. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.66 billion. Owens Corning had a negative net margin of 6.81% and a positive return on equity of 20.52%. The company’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the business earned $4.21 EPS. Sell-side analysts forecast that Owens Corning will post 9.89 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Monday, October 19th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, October 19th. Owens Corning’s dividend payout ratio (DPR) is currently -39.21%.

Owens Corning Company Profile

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 and composite materials designed to improve energy efficiency, weather protection, durability and structural performance.

The company’s insulation business offers products such as fiberglass and mineral wool insulation, along with related air-sealing and acoustic solutions. Its roofing operations produce shingles, underlayment and other components for residential and commercial roofing systems.