Analysts Set Owens Corning Inc (NYSE:OC) PT at $151.58

Shares of Owens Corning Inc (NYSE:OC) have earned an average recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $151.5833.

Several equities analysts have commented on the stock. UBS Group increased their price objective on shares of Owens Corning from $160.00 to $172.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Citigroup reduced their target price on shares of Owens Corning from $137.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Evercore lowered their price target on shares of Owens Corning from $121.00 to $117.00 and set an “in-line” rating for the company in a report on Thursday, December 4th. Wells Fargo & Company lifted their price target on Owens Corning from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 11th. Finally, Barclays boosted their price objective on Owens Corning from $130.00 to $138.00 and gave the stock an “overweight” rating in a research note on Thursday, January 15th.

Institutional Trading of Owens Corning

A number of institutional investors have recently bought and sold shares of OC. Geneos Wealth Management Inc. lifted its holdings in shares of Owens Corning by 61.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock worth $69,000 after acquiring an additional 184 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Owens Corning during the 2nd quarter valued at about $277,000. ProShare Advisors LLC grew its holdings in Owens Corning by 3.2% during the 2nd quarter. ProShare Advisors LLC now owns 3,771 shares of the construction company’s stock valued at $519,000 after purchasing an additional 118 shares during the last quarter. Vise Technologies Inc. purchased a new stake in Owens Corning in the 2nd quarter worth about $420,000. Finally, National Pension Service lifted its stake in Owens Corning by 1.5% in the second quarter. National Pension Service now owns 76,120 shares of the construction company’s stock worth $10,468,000 after purchasing an additional 1,095 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Stock Performance

NYSE:OC opened at $107.74 on Friday. The company has a market cap of $8.66 billion, a price-to-earnings ratio of -16.83, a PEG ratio of 1.76 and a beta of 1.35. Owens Corning has a 1 year low of $97.53 and a 1 year high of $159.42. The stock’s 50 day simple moving average is $122.54 and its two-hundred day simple moving average is $123.71. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.26 and a quick ratio of 0.70.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, February 25th. The construction company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.26). Owens Corning had a negative net margin of 5.17% and a positive return on equity of 21.93%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the prior year, the company posted $3.22 earnings per share. The firm’s revenue was down 16.8% compared to the same quarter last year. As a group, equities analysts anticipate that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Monday, March 9th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, March 9th. This represents a $3.16 annualized dividend and a dividend yield of 2.9%. Owens Corning’s payout ratio is currently -49.38%.

About Owens Corning

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.