Owens Corning (NYSE:OC) Receives Average Recommendation of “Hold” from Analysts

Owens Corning (NYSE:OC) has been assigned an average rating of “Hold” from the fourteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $168.21.

Several research firms recently weighed in on OC. Argus upped their price objective on shares of Owens Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Barclays cut shares of Owens Corning from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $170.00 to $160.00 in a report on Monday, February 12th. Evercore ISI boosted their target price on Owens Corning from $154.00 to $172.00 and gave the stock an “in-line” rating in a report on Thursday, April 25th. Citigroup increased their price target on Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Finally, Royal Bank of Canada boosted their price objective on Owens Corning from $175.00 to $192.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th.

Owens Corning Trading Down 1.3 %

Owens Corning stock opened at $174.92 on Wednesday. The firm has a 50-day moving average price of $163.78 and a two-hundred day moving average price of $148.77. Owens Corning has a 52-week low of $103.65 and a 52-week high of $178.33. The firm has a market capitalization of $15.16 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 5.24 and a beta of 1.45. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.50.

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, topping analysts’ consensus estimates 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 prior year, the company posted $2.77 EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. Sell-side analysts expect that Owens Corning will post 15.37 earnings per share for the current year.

Insider Buying and Selling

In other Owens Corning news, insider Gunner Smith sold 7,442 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $148.99, for a total value of $1,108,783.58. Following the completion of the transaction, the insider now directly owns 36,140 shares in the company, valued at $5,384,498.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Paula Russell sold 3,765 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the transaction, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at $3,307,878. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gunner Smith sold 7,442 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $148.99, for a total value of $1,108,783.58. Following the completion of the sale, the insider now directly owns 36,140 shares of the company’s stock, valued at $5,384,498.60. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Institutional Trading of Owens Corning

A number of hedge funds have recently made changes to their positions in OC. Headlands Technologies LLC increased its stake in shares of Owens Corning by 218.2% in the first quarter. Headlands Technologies LLC now owns 471 shares of the construction company’s stock worth $79,000 after acquiring an additional 323 shares during the last quarter. Donoghue Forlines LLC purchased a new position in Owens Corning in the first quarter valued at about $466,000. Verus Capital Partners LLC acquired a new position in Owens Corning in the 1st quarter worth about $539,000. Meeder Asset Management Inc. raised its stake in shares of Owens Corning by 12.5% during the 1st quarter. Meeder Asset Management Inc. now owns 30,125 shares of the construction company’s stock worth $5,025,000 after purchasing an additional 3,349 shares in the last quarter. Finally, NorthRock Partners LLC lifted its holdings in shares of Owens Corning by 14.6% during the 1st quarter. NorthRock Partners LLC now owns 1,574 shares of the construction company’s stock valued at $263,000 after buying an additional 200 shares during the last quarter. 88.40% of the stock is owned by hedge funds and other 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.