Owens Corning (OC) Given Consensus Rating of “Buy” by Analysts

Owens Corning (NYSE:OC) has received an average recommendation of “Buy” from the twenty-four analysts that are currently covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $84.60.

Several equities analysts recently issued reports on the stock. KeyCorp reissued a “buy” rating and set a $115.00 price target on shares of Owens Corning in a report on Friday, January 12th. Zacks Investment Research raised shares of Owens Corning from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a report on Thursday. Zelman & Associates downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Seaport Global Securities lifted their price target on shares of Owens Corning from $90.00 to $107.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Finally, Argus assumed coverage on shares of Owens Corning in a report on Wednesday, December 6th. They set a “buy” rating and a $109.00 price target for the company.

Shares of Owens Corning (NYSE OC) traded up $0.41 during trading on Friday, hitting $96.03. 518,319 shares of the stock traded hands, compared to its average volume of 884,272. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.99 and a current ratio of 1.66. Owens Corning has a 1-year low of $53.04 and a 1-year high of $96.40. The firm has a market cap of $10,680.00, a price-to-earnings ratio of 28.67, a P/E/G ratio of 1.17 and a beta of 1.09.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.01). Owens Corning had a net margin of 6.15% and a return on equity of 11.40%. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the prior year, the business earned $1.09 earnings per share. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. sell-side analysts predict that Owens Corning will post 4.34 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 17th. Shareholders of record on Tuesday, January 2nd were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, December 29th. This is an increase from Owens Corning’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.87%. Owens Corning’s payout ratio is currently 25.07%.

In related news, Director W Howard Morris sold 2,026 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $81.95, for a total transaction of $166,030.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Michael H. Thaman sold 101,600 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $85.33, for a total transaction of $8,669,528.00. Following the sale, the chairman now directly owns 840,370 shares of the company’s stock, valued at $71,708,772.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 129,933 shares of company stock valued at $11,196,722. Insiders own 1.80% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Grove Bank & Trust raised its stake in shares of Owens Corning by 213.5% during the third quarter. Grove Bank & Trust now owns 1,630 shares of the construction company’s stock worth $126,000 after buying an additional 1,110 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Owens Corning during the third quarter worth approximately $202,000. Worth Venture Partners LLC bought a new stake in shares of Owens Corning during the third quarter worth approximately $213,000. Advisors Asset Management Inc. raised its stake in shares of Owens Corning by 214.4% during the third quarter. Advisors Asset Management Inc. now owns 2,764 shares of the construction company’s stock worth $214,000 after buying an additional 1,885 shares during the last quarter. Finally, Csenge Advisory Group bought a new stake in shares of Owens Corning during the third quarter worth approximately $245,000. 94.55% of the stock is owned by institutional investors and hedge funds.

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About Owens Corning

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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