Owens Corning (NYSE:OC) Receives $201.75 Consensus Price Target from Brokerages

Shares of Owens Corning (NYSE:OC) have been given a consensus rating of “Moderate Buy” by the thirteen research firms that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $201.75.

Several equities analysts have recently issued reports on OC shares. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Loop Capital reduced their target price on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Royal Bank of Canada lifted their price target on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Barclays upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $192.00 to $245.00 in a research report on Wednesday, December 11th. Finally, UBS Group lifted their price target on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Owens Corning Price Performance

OC opened at $182.86 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a 52-week low of $138.70 and a 52-week high of $214.53. The stock has a market capitalization of $15.69 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 1.84 and a beta of 1.46. The stock’s 50 day moving average price is $186.08 and its 200-day moving average price is $177.30.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.05 billion for 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 business’s revenue was up 22.9% compared to the same quarter last year. On average, equities research analysts predict that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Monday, January 6th were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.51%. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, January 6th. Owens Corning’s payout ratio is 23.49%.

Insider Activity

In other news, insider Gunner Smith sold 17,450 shares of the company’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 transaction, the insider now directly owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asset Management L.P. increased its position in Owens Corning by 168.3% during the second quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock valued at $128,772,000 after acquiring an additional 464,981 shares during the last quarter. Pacer Advisors Inc. increased its position in Owens Corning by 38.9% during the second quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock valued at $276,655,000 after acquiring an additional 446,073 shares during the last quarter. JPMorgan Chase & Co. increased its position in Owens Corning by 113.9% during the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock valued at $140,818,000 after acquiring an additional 424,786 shares during the last quarter. Goldentree Asset Management LP purchased a new stake in Owens Corning in the third quarter worth about $43,559,000. Finally, Nordea Investment Management AB increased its position in Owens Corning by 12.5% in the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock worth $366,166,000 after buying an additional 238,694 shares in the last quarter. 88.40% of the stock is owned by institutional investors.

About Owens Corning

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.