Owens Corning Inc (OC) Given Average Rating of “Buy” by Analysts
Shares of Owens Corning Inc (NYSE:OC) have received a consensus recommendation of “Buy” from the twenty-four brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $70.53.
Several brokerages have issued reports on OC. Stifel Nicolaus restated a “buy” rating and set a $83.00 price objective on shares of Owens Corning in a research report on Friday, July 28th. Jefferies Group LLC reaffirmed a “buy” rating and set a $82.00 target price on shares of Owens Corning in a report on Thursday, July 27th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $79.00 target price on shares of Owens Corning in a report on Friday, July 28th. Macquarie raised shares of Owens Corning from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $54.00 to $68.00 in a report on Tuesday, June 20th. Finally, BidaskClub cut shares of Owens Corning from a “hold” rating to a “sell” rating in a report on Thursday, July 27th.
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In other news, insider Brian Chambers sold 16,600 shares of Owens Corning stock in a transaction on Friday, August 4th. The shares were sold at an average price of $67.18, for a total transaction of $1,115,188.00. Following the transaction, the insider now owns 39,957 shares in the company, valued at $2,684,311.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Arnaud Genis sold 21,544 shares of Owens Corning stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $65.44, for a total transaction of $1,409,839.36. Following the transaction, the insider now owns 80,143 shares in the company, valued at approximately $5,244,557.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,144 shares of company stock worth $2,654,227. 1.80% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of OC. Geneva Advisors LLC acquired a new position in shares of Owens Corning during the first quarter worth approximately $600,000. Camelot Portfolios LLC acquired a new position in shares of Owens Corning during the first quarter worth approximately $339,000. Canada Pension Plan Investment Board raised its position in shares of Owens Corning by 18.2% in the first quarter. Canada Pension Plan Investment Board now owns 177,280 shares of the construction company’s stock worth $10,880,000 after buying an additional 27,300 shares during the period. DUPONT CAPITAL MANAGEMENT Corp raised its position in shares of Owens Corning by 17.6% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 136,000 shares of the construction company’s stock worth $8,346,000 after buying an additional 20,373 shares during the period. Finally, Breton Hill Capital Ltd. raised its position in shares of Owens Corning by 12.6% in the first quarter. Breton Hill Capital Ltd. now owns 16,687 shares of the construction company’s stock worth $1,024,000 after buying an additional 1,862 shares during the period.
Owens Corning (NYSE:OC) traded up 1.88% during trading on Tuesday, hitting $68.45. The company had a trading volume of 605,045 shares. The stock has a market capitalization of $7.61 billion, a PE ratio of 19.66 and a beta of 1.11. The stock has a 50-day moving average of $66.66 and a 200-day moving average of $62.72. Owens Corning has a one year low of $46.45 and a one year high of $68.88.
Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, July 26th. The construction company reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.12. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Owens Corning had a return on equity of 11.12% and a net margin of 6.61%. Owens Corning’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.29 EPS. On average, equities analysts anticipate that Owens Corning will post $4.28 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 2nd. Stockholders of record on Monday, July 17th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.17%. Owens Corning’s dividend payout ratio (DPR) is presently 23.05%.
Owens Corning Company Profile
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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