Brokerages Set Owens Corning (NYSE:OC) Target Price at $192.62

Owens Corning (NYSE:OC) has received an average rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $192.62.

OC has been the subject of several recent analyst reports. UBS Group increased their price target on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Benchmark restated a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Wells Fargo & Company raised their price target on shares of Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Royal Bank of Canada lifted their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Evercore ISI increased their target price on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th.

Insider Buying and Selling

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the transaction, the insider now directly owns 57,079 shares in the company, valued at $10,074,443.50. The trade was a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Owens Corning

Several institutional investors and hedge funds have recently modified their holdings of the stock. UniSuper Management Pty Ltd grew its stake in shares of Owens Corning by 85.7% in the first quarter. UniSuper Management Pty Ltd now owns 1,300 shares of the construction company’s stock valued at $217,000 after acquiring an additional 600 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Owens Corning by 24.9% in the first quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock valued at $65,000 after acquiring an additional 78 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Owens Corning in the first quarter valued at about $416,000. 1832 Asset Management L.P. grew its stake in shares of Owens Corning by 10.3% in the first quarter. 1832 Asset Management L.P. now owns 11,622 shares of the construction company’s stock valued at $1,939,000 after acquiring an additional 1,085 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Owens Corning by 14.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 74,470 shares of the construction company’s stock valued at $12,422,000 after acquiring an additional 9,584 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Stock Down 1.3 %

Shares of Owens Corning stock opened at $208.07 on Friday. Owens Corning has a 1 year low of $131.67 and a 1 year high of $214.53. The business has a 50-day moving average of $183.63 and a two-hundred day moving average of $175.64. The company has a market capitalization of $17.85 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 2.27 and a beta of 1.41. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the prior year, the company earned $4.15 earnings per share. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. As a group, equities analysts predict that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 annualized dividend and a dividend yield of 1.15%. Owens Corning’s dividend payout ratio is currently 20.43%.

Owens Corning Company Profile

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.