Brokerages Set Owens Corning (NYSE:OC) Target Price at $200.83

Owens Corning (NYSE:OC) has earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $200.83.

A number of analysts recently weighed in on OC shares. Wells Fargo & Company upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $195.00 to $225.00 in a research report on Tuesday, December 17th. Barclays raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $192.00 to $245.00 in a research report on Wednesday, December 11th. Royal Bank of Canada upped their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Finally, The Goldman Sachs Group boosted their target price on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th.

Owens Corning Price Performance

OC opened at $169.41 on Thursday. The company has a fifty day moving average price of $190.93 and a two-hundred day moving average price of $177.88. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The firm has a market capitalization of $14.53 billion, a PE ratio of 14.42, a P/E/G ratio of 2.14 and a beta of 1.42. Owens Corning has a 52 week low of $138.70 and a 52 week high of $214.53.

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

Owens Corning Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Monday, January 6th will be paid a dividend of $0.69 per share. This is a boost from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Monday, January 6th. Owens Corning’s dividend payout ratio (DPR) is currently 23.49%.

Insider Buying and Selling

In other news, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the completion of the transaction, the insider now owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Innealta Capital LLC bought a new position in shares of Owens Corning in the second quarter valued at about $32,000. Tobam lifted its position in Owens Corning by 115.7% during the second quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after acquiring an additional 103 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Owens Corning during the third quarter worth approximately $38,000. Quarry LP boosted its holdings in shares of Owens Corning by 165.5% during the second quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after acquiring an additional 144 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Owens Corning by 46.2% in the second quarter. Blue Trust Inc. now owns 367 shares of the construction company’s stock valued at $61,000 after purchasing an additional 116 shares during the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

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.