Owens Corning (NYSE:OC) PT Raised to $172.00 at Evercore ISI

Owens Corning (NYSE:OC) had its price objective increased by Evercore ISI from $154.00 to $172.00 in a report released on Thursday morning, Benzinga reports. They currently have an in-line rating on the construction company’s stock.

Several other brokerages have also recently weighed in on OC. UBS Group dropped their price objective on shares of Owens Corning from $175.00 to $169.00 and set a buy rating for the company in a research note on Thursday, February 15th. Royal Bank of Canada decreased their target price on shares of Owens Corning from $183.00 to $175.00 and set an outperform rating on the stock in a report on Thursday, February 15th. Citigroup raised their target price on shares of Owens Corning from $150.00 to $169.00 and gave the company a neutral rating in a report on Friday, April 5th. Truist Financial raised their target price on shares of Owens Corning from $115.00 to $145.00 and gave the company a hold rating in a report on Thursday, February 15th. Finally, Barclays lowered shares of Owens Corning from an overweight rating to an equal weight rating and decreased their target price for the company from $170.00 to $160.00 in a report on Monday, February 12th. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $168.21.

Owens Corning Price Performance

Shares of Owens Corning stock opened at $168.50 on Thursday. Owens Corning has a twelve month low of $99.49 and a twelve month high of $173.65. The company has a quick ratio of 1.17, a current ratio of 1.76 and a debt-to-equity ratio of 0.50. The company has a 50-day simple moving average of $159.88 and a two-hundred day simple moving average of $146.48. The stock has a market capitalization of $14.60 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 7.12 and a beta of 1.47.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.55. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the previous year, the company earned $2.77 EPS. The business’s revenue was down 1.3% on a year-over-year basis. Analysts forecast that Owens Corning will post 14.74 EPS for the current year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Monday, March 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Friday, March 1st. Owens Corning’s dividend payout ratio (DPR) is presently 19.43%.

Insider Activity at Owens Corning

In related news, CEO Brian Chambers sold 9,100 shares of Owens Corning stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the sale, the chief executive officer now directly owns 269,696 shares in the company, valued at approximately $41,417,214.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Brian Chambers sold 9,100 shares of Owens Corning stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the sale, the chief executive officer now directly owns 269,696 shares in the company, valued at approximately $41,417,214.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gunner Smith sold 657 shares of Owens Corning stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $153.36, for a total transaction of $100,757.52. Following the sale, the insider now owns 37,587 shares in the company, valued at $5,764,342.32. 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. 0.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Owens Corning

Several hedge funds have recently added to or reduced their stakes in the business. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Owens Corning by 0.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,130 shares of the construction company’s stock worth $1,205,000 after purchasing an additional 67 shares during the period. Avantax Advisory Services Inc. lifted its position in shares of Owens Corning by 2.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,082 shares of the construction company’s stock worth $457,000 after purchasing an additional 69 shares during the period. GAMMA Investing LLC lifted its position in shares of Owens Corning by 7.5% in the 1st quarter. GAMMA Investing LLC now owns 1,104 shares of the construction company’s stock worth $184,000 after purchasing an additional 77 shares during the period. Blue Trust Inc. lifted its position in shares of Owens Corning by 42.2% in the 4th quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock worth $36,000 after purchasing an additional 78 shares during the period. Finally, Caprock Group LLC lifted its position in shares of Owens Corning by 3.7% in the 4th quarter. Caprock Group LLC now owns 2,214 shares of the construction company’s stock worth $328,000 after purchasing an additional 79 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

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.