Owens Corning Inc (NYSE:OC) Given Average Rating of “Moderate Buy” by Analysts

Shares of Owens Corning Inc (NYSE:OC) have received an average rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $145.0909.

OC has been the topic of several research reports. Evercore set a $130.00 price objective on shares of Owens Corning in a report on Friday, April 24th. UBS Group boosted their price objective on shares of Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Wells Fargo & Company boosted their price objective on shares of Owens Corning from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Argus upgraded shares of Owens Corning to a “strong-buy” rating in a report on Wednesday, January 14th. Finally, Barclays dropped their price objective on shares of Owens Corning from $138.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th.

Institutional Trading of Owens Corning

Several institutional investors have recently made changes to their positions in OC. Geneos Wealth Management Inc. boosted its position in shares of Owens Corning by 61.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock valued at $69,000 after acquiring an additional 184 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Owens Corning during the 2nd quarter valued at about $277,000. EverSource Wealth Advisors LLC boosted its position in shares of Owens Corning by 1,433.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,273 shares of the construction company’s stock valued at $175,000 after acquiring an additional 1,190 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Owens Corning by 294.3% during the 2nd quarter. Cerity Partners LLC now owns 17,372 shares of the construction company’s stock valued at $2,389,000 after acquiring an additional 12,966 shares in the last quarter. Finally, Bank of Nova Scotia boosted its position in shares of Owens Corning by 12.2% during the 2nd quarter. Bank of Nova Scotia now owns 3,059 shares of the construction company’s stock valued at $421,000 after acquiring an additional 333 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Stock Performance

NYSE:OC opened at $122.58 on Friday. The firm’s 50-day moving average is $114.25 and its 200-day moving average is $117.17. Owens Corning has a 52-week low of $97.53 and a 52-week high of $159.42. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.70 and a current ratio of 1.26. The company has a market cap of $9.85 billion, a price-to-earnings ratio of -19.15, a PEG ratio of 2.08 and a beta of 1.35.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, February 25th. The construction company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.26). Owens Corning had a positive return on equity of 21.93% and a negative net margin of 5.17%.The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the previous year, the firm posted $3.22 EPS. The business’s revenue for the quarter was down 16.8% compared to the same quarter last year. Equities research analysts anticipate that Owens Corning will post 9.45 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Monday, March 9th were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Monday, March 9th. Owens Corning’s payout ratio is -49.38%.

Owens Corning Company Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.