Owens Corning Inc (NYSE:OC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Owens Corning Inc (NYSE:OC) have been given a consensus recommendation of “Moderate Buy” by the fifteen brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $144.8182.

A number of equities research analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of Owens Corning from $160.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Weiss Ratings lowered Owens Corning from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 18th. The Goldman Sachs Group lifted their target price on Owens Corning from $125.00 to $141.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Evercore set a $139.00 target price on Owens Corning in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. lifted their target price on Owens Corning from $115.00 to $121.00 and gave the company a “neutral” rating in a research report on Friday, May 8th.

Owens Corning Trading Up 1.9%

Shares of OC opened at $122.30 on Thursday. Owens Corning has a 1-year low of $97.53 and a 1-year high of $159.42. The company has a 50-day moving average of $115.15 and a 200 day moving average of $116.34. The firm has a market capitalization of $9.85 billion, a price-to-earnings ratio of -18.50, a PEG ratio of 2.18 and a beta of 1.35. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.24 and a quick ratio of 0.74.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.21. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. The company had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter last year, the business posted $2.97 EPS. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, research analysts expect that Owens Corning will post 9.53 EPS for the current year.

Insiders Place Their Bets

In other news, VP Mari Doerfler sold 1,926 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $120.92, for a total value of $232,891.92. Following the completion of the sale, the vice president owned 3,093 shares in the company, valued at approximately $374,005.56. The trade was a 38.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Owens Corning

Large investors have recently modified their holdings of the business. Itau Unibanco Holding S.A. bought a new stake in shares of Owens Corning in the 4th quarter valued at about $29,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Owens Corning in the 1st quarter worth $30,000. Measured Wealth Private Client Group LLC bought a new position in shares of Owens Corning in the 3rd quarter worth $42,000. Harbour Investments Inc. raised its position in shares of Owens Corning by 66.5% in the 4th quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock worth $36,000 after acquiring an additional 129 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Owens Corning in the 4th quarter worth $37,000. Institutional investors own 88.40% of the company’s stock.

Owens Corning Company Profile

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.