Owens Corning (NYSE:OC) Given Average Rating of “Moderate Buy” by Brokerages

Owens Corning (NYSE:OC) has earned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $192.62.

Several analysts have issued reports on the company. Wells Fargo & Company upped their target price on Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Benchmark reissued a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Royal Bank of Canada lifted their target price on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Evercore ISI increased their price target on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, UBS Group lifted their price target on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Owens Corning Price Performance

Shares of NYSE OC opened at $202.77 on Friday. The firm has a 50-day simple moving average of $182.76 and a 200-day simple moving average of $175.40. 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 stock has a market capitalization of $17.39 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 2.22 and a beta of 1.41. Owens Corning has a 52 week low of $131.61 and a 52 week high of $203.40.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. The business had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business’s revenue was up 22.9% on a year-over-year basis. During the same period last year, the company posted $4.15 EPS. On average, equities analysts predict that Owens Corning will post 15.39 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were paid a $0.60 dividend. The ex-dividend date was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.18%. Owens Corning’s payout ratio is presently 20.43%.

Insider Buying and Selling

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the sale, the insider now owns 57,079 shares in the company, valued at $10,074,443.50. This represents a 5.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Owens Corning

Several hedge funds and other institutional investors have recently made changes to their positions in OC. ST Germain D J Co. Inc. lifted its stake in Owens Corning by 794.1% in the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after acquiring an additional 135 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Owens Corning during the second quarter worth $32,000. Tobam increased its holdings in Owens Corning by 115.7% in the second quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after buying an additional 103 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Owens Corning in the third quarter valued at $38,000. Finally, Quarry LP lifted its holdings in 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 buying an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

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.