Owens Corning (NYSE:OC) Receives $207.00 Average PT from Brokerages

Shares of Owens Corning (NYSE:OC) have been given an average rating of “Moderate Buy” by the twelve research firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $204.18.

OC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research note on Tuesday. Evercore ISI upped their target price on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Royal Bank of Canada dropped their target price on shares of Owens Corning from $224.00 to $212.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th. Loop Capital dropped their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Wells Fargo & Company lowered their price target on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th.

Owens Corning Stock Performance

Shares of NYSE:OC opened at $145.66 on Tuesday. The company has a market capitalization of $12.46 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.88 and a beta of 1.52. Owens Corning has a 12 month low of $140.94 and a 12 month high of $214.53. The firm’s 50-day moving average is $173.97 and its 200 day moving average is $178.51. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last issued its earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.21 EPS. Research analysts predict that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be given a dividend of $0.69 per share. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.89%. Owens Corning’s payout ratio is 37.70%.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the sale, the insider now owns 11,635 shares of the company’s stock, valued at $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gunner Smith sold 17,450 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the transaction, the insider now directly owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Stratos Wealth Partners LTD. grew its position in shares of Owens Corning by 4.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock valued at $221,000 after purchasing an additional 53 shares during the period. Greenleaf Trust grew its position in shares of Owens Corning by 1.5% in the fourth quarter. Greenleaf Trust now owns 3,895 shares of the construction company’s stock valued at $663,000 after purchasing an additional 56 shares during the period. CoreCap Advisors LLC lifted its stake in shares of Owens Corning by 3.3% in the fourth quarter. CoreCap Advisors LLC now owns 1,789 shares of the construction company’s stock worth $305,000 after buying an additional 57 shares in the last quarter. Retirement Guys Formula LLC lifted its stake in shares of Owens Corning by 3.1% in the fourth quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company’s stock worth $341,000 after buying an additional 60 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in shares of Owens Corning by 35.6% in the fourth quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock worth $40,000 after buying an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

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.