Owens Corning (NYSE:OC) Receives $162.14 Consensus Price Target from Analysts

Owens Corning (NYSE:OC) has been assigned a consensus recommendation of “Hold” from the fifteen brokerages that are presently covering the stock, MarketBeat reports. Eight research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $162.14.

Several analysts recently weighed in on the company. Loop Capital upped their price target on Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Royal Bank of Canada cut their target price on Owens Corning from $183.00 to $175.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Truist Financial increased their target price on Owens Corning from $115.00 to $145.00 and gave the company a “hold” rating in a research note on Thursday, February 15th. Evercore ISI downgraded Owens Corning from an “outperform” rating to an “in-line” rating and cut their target price for the company from $163.00 to $154.00 in a research note on Thursday, February 15th. Finally, JPMorgan Chase & Co. cut their target price on Owens Corning from $164.00 to $163.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 20th.

Owens Corning Stock Performance

Owens Corning stock opened at $163.92 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $14.26 billion, a P/E ratio of 12.49, a PEG ratio of 0.29 and a beta of 1.47. The stock’s 50 day moving average is $157.15 and its 200 day moving average is $144.53. Owens Corning has a twelve month low of $98.00 and a twelve month high of $173.65.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, February 14th. The construction company reported $3.21 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.39. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.25 billion. Owens Corning had a return on equity of 25.88% and a net margin of 12.36%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.49 EPS. On average, equities research analysts predict that Owens Corning will post 13.77 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Monday, March 4th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.46%. Owens Corning’s dividend payout ratio is currently 18.29%.

Insider Buying and Selling

In related news, insider Gunner Smith sold 7,442 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 36,140 shares of the company’s stock, valued at approximately $5,384,498.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the sale, 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 SEC, which is available through this hyperlink. Also, 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 sale, the insider now directly owns 36,140 shares in the company, valued at $5,384,498.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,672 shares of company stock valued at $3,325,799. 0.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Owens Corning

A number of institutional investors and hedge funds have recently bought and sold shares of OC. NBC Securities Inc. purchased a new position in shares of Owens Corning during the first quarter valued at about $26,000. Riverview Trust Co purchased a new position in Owens Corning in the first quarter worth about $28,000. Contravisory Investment Management Inc. purchased a new position in Owens Corning in the fourth quarter worth about $27,000. Bruce G. Allen Investments LLC purchased a new position in Owens Corning in the fourth quarter worth about $27,000. Finally, Financial Management Professionals Inc. purchased a new position in Owens Corning in the third quarter worth about $29,000. 88.40% of the stock is owned by 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.