Owens Corning Inc (OC) Given Average Recommendation of “Buy” by Brokerages

Shares of Owens Corning Inc (NYSE:OC) have earned a consensus rating of “Buy” from the twenty-two ratings firms that are presently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $78.47.

A number of equities analysts have recently issued reports on the stock. SunTrust Banks increased their price objective on shares of Owens Corning to $85.00 and gave the stock a “hold” rating in a research report on Tuesday, November 21st. Credit Suisse Group raised their price target on shares of Owens Corning from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Friday, November 17th. Bank of America raised their price target on shares of Owens Corning from $84.00 to $97.00 and gave the company a “buy” rating in a research report on Friday, November 17th. Nomura raised their price target on shares of Owens Corning from $79.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $83.00 price target on shares of Owens Corning in a research report on Thursday, October 26th.

Owens Corning (NYSE:OC) traded up $0.06 during mid-day trading on Thursday, hitting $88.35. 7,132,642 shares of the stock were exchanged, compared to its average volume of 1,049,209. The company has a market cap of $9,966.08, a PE ratio of 22.29, a PEG ratio of 1.35 and a beta of 1.08. The company has a quick ratio of 0.99, a current ratio of 1.66 and a debt-to-equity ratio of 0.62. Owens Corning has a one year low of $50.77 and a one year high of $90.15.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, October 25th. The construction company reported $1.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.26 by ($0.01). The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.63 billion. Owens Corning had a return on equity of 11.40% and a net margin of 6.15%. Owens Corning’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the company earned $1.09 EPS. research analysts forecast that Owens Corning will post 4.33 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 2nd. Stockholders of record on Monday, October 16th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, October 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.91%. Owens Corning’s payout ratio is currently 23.88%.

In other news, VP Ava Harter sold 487 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $81.96, for a total transaction of $39,914.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John David Williams sold 3,684 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $88.64, for a total transaction of $326,549.76. Following the sale, the director now owns 24,762 shares of the company’s stock, valued at approximately $2,194,903.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 255,176 shares of company stock valued at $20,267,835. 1.80% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of OC. TIAA FSB bought a new position in Owens Corning in the 3rd quarter worth approximately $3,022,000. Geneva Advisors LLC boosted its holdings in Owens Corning by 6.2% in the 2nd quarter. Geneva Advisors LLC now owns 10,380 shares of the construction company’s stock worth $695,000 after buying an additional 603 shares during the period. Marshall Wace North America L.P. boosted its holdings in Owens Corning by 317.3% in the 2nd quarter. Marshall Wace North America L.P. now owns 92,940 shares of the construction company’s stock worth $6,227,000 after buying an additional 70,667 shares during the period. Aviva PLC boosted its holdings in Owens Corning by 14.3% in the 2nd quarter. Aviva PLC now owns 39,967 shares of the construction company’s stock worth $2,674,000 after buying an additional 5,000 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Owens Corning by 213.0% in the 3rd quarter. Principal Financial Group Inc. now owns 436,865 shares of the construction company’s stock worth $33,792,000 after buying an additional 297,311 shares during the period. Institutional investors own 94.61% of the company’s stock.

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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.

Analyst Recommendations for Owens Corning (NYSE:OC)

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