Weekly Analysts’ Ratings Changes for Owens Corning (OC)

Several brokerages have updated their recommendations and price targets on shares of Owens Corning (NYSE: OC) in the last few weeks:

• 4/25/2024 – Owens Corning had its price target raised by analysts at Royal Bank of Canada from $175.00 to $192.00. They now have an “outperform” rating on the stock.
• 4/25/2024 – Owens Corning had its price target raised by analysts at Evercore ISI from $154.00 to $172.00. They now have an “in-line” rating on the stock.
• 4/25/2024 – Owens Corning had its price target raised by analysts at Argus from $175.00 to $182.00. They now have a “buy” rating on the stock.
• 4/25/2024 – Owens Corning had its price target raised by analysts at UBS Group AG from $169.00 to $192.00. They now have a “buy” rating on the stock.
• 4/5/2024 – Owens Corning had its price target raised by analysts at Citigroup Inc. from $150.00 to $169.00. They now have a “neutral” rating on the stock.
• 4/1/2024 – Owens Corning had its price target raised by analysts at Loop Capital from $167.00 to $188.00. They now have a “buy” rating on the stock.

Owens Corning Price Performance

Shares of OC opened at $168.06 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76. The stock has a 50 day simple moving average of $161.05 and a 200 day simple moving average of $147.07. Owens Corning has a 52-week low of $103.41 and a 52-week high of $173.65. The firm has a market capitalization of $14.56 billion, a PE ratio of 13.61, a P/E/G ratio of 5.37 and a beta of 1.47.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.55. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the firm earned $2.77 EPS. Owens Corning’s quarterly revenue was down 1.3% compared to the same quarter last year. Sell-side analysts predict that Owens Corning will post 14.74 EPS for the current fiscal year.

Insider Activity at Owens Corning

In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value of $609,930.00. Following the sale, the executive vice president now owns 20,419 shares in the company, valued at approximately $3,307,878. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Gunner Smith sold 657 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $153.36, for a total transaction of $100,757.52. Following the sale, the insider now owns 37,587 shares in the company, valued at approximately $5,764,342.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Paula Russell sold 3,765 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value of $609,930.00. Following the sale, the executive vice president now owns 20,419 shares in the company, valued at approximately $3,307,878. The disclosure for this sale can be found here. In the last three months, insiders sold 12,572 shares of company stock worth $1,928,312. 0.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Owens Corning

A number of institutional investors and hedge funds have recently made changes to their positions in OC. MV Capital Management Inc. raised its stake in Owens Corning by 112.9% in the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after acquiring an additional 79 shares during the period. NBC Securities Inc. bought a new stake in Owens Corning in the 1st quarter valued at $26,000. Contravisory Investment Management Inc. bought a new stake in Owens Corning in the 4th quarter valued at $27,000. Bruce G. Allen Investments LLC bought a new stake in Owens Corning in the 4th quarter valued at $27,000. Finally, Riverview Trust Co bought a new stake in Owens Corning in the 1st quarter valued at $28,000. Institutional investors own 88.40% of the company’s stock.

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.