Analysts Set Owens Corning (NYSE:OC) PT at $201.75

Shares of Owens Corning (NYSE:OC) have been assigned a consensus rating of “Moderate Buy” from the thirteen analysts that are currently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $201.75.

A number of research firms recently issued reports on OC. Royal Bank of Canada lifted their price target on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Citigroup lowered their target price on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wells Fargo & Company raised Owens Corning from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $195.00 to $225.00 in a research note on Tuesday, December 17th. The Goldman Sachs Group raised their price objective on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $192.00 to $245.00 in a research note on Wednesday, December 11th.

Owens Corning Stock Performance

NYSE OC opened at $182.86 on Monday. Owens Corning has a twelve month low of $138.70 and a twelve month high of $214.53. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The company’s 50-day simple moving average is $186.08 and its 200 day simple moving average is $177.42. The stock has a market cap of $15.69 billion, a P/E ratio of 15.56, a PEG ratio of 1.84 and a beta of 1.46.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.33. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period last year, the firm posted $4.15 EPS. As a group, research analysts forecast that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Monday, January 6th were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Monday, January 6th. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. Owens Corning’s dividend payout ratio is presently 23.49%.

Insider Buying and Selling

In related news, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the transaction, the insider now directly owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is owned by corporate insiders.

Institutional Trading of Owens Corning

A number of hedge funds have recently modified their holdings of OC. Global Trust Asset Management LLC bought a new stake in Owens Corning in the 4th quarter valued at $31,000. Brooklyn Investment Group acquired a new position in shares of Owens Corning in the 3rd quarter valued at approximately $38,000. Quarry LP boosted its position in shares of Owens Corning by 165.5% during the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after acquiring an additional 144 shares in the last quarter. Tobam increased its stake in shares of Owens Corning by 38.0% in the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after purchasing an additional 73 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in Owens Corning by 88.1% in the fourth quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock valued at $65,000 after acquiring an additional 178 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Company Profile

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.