Owens Corning (NYSE:OC) Receives $194.58 Average PT from Brokerages

Shares of Owens Corning (NYSE:OC) have received an average rating of “Moderate Buy” from the twelve analysts that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $195.73.

A number of research analysts recently commented on the stock. Loop Capital lowered their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. JPMorgan Chase & Co. dropped their price objective on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. Deutsche Bank Aktiengesellschaft started coverage on shares of Owens Corning in a research report on Tuesday, April 1st. They issued a “buy” rating and a $183.00 price target on the stock. Finally, Wells Fargo & Company lowered their price objective on shares of Owens Corning from $200.00 to $155.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th.

Owens Corning Price Performance

Shares of NYSE:OC opened at $144.44 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The firm’s 50 day moving average is $143.40 and its two-hundred day moving average is $170.42. The firm has a market capitalization of $12.36 billion, a P/E ratio of 12.29, a PEG ratio of 1.88 and a beta of 1.39. Owens Corning has a 52 week low of $123.41 and a 52 week high of $214.53.

Owens Corning (NYSE:OC) last announced its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the business earned $3.21 EPS. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. Analysts anticipate that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 10th were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.91%. The ex-dividend date was Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is currently 37.70%.

Insider Activity

In related news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the sale, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Owens Corning

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FPC Investment Advisory Inc. acquired a new position in shares of Owens Corning in the fourth quarter worth $28,000. Venturi Wealth Management LLC boosted its position in Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after purchasing an additional 63 shares during the last quarter. Global Trust Asset Management LLC purchased a new position in Owens Corning in the fourth quarter valued at about $31,000. Wilmington Savings Fund Society FSB increased its position in Owens Corning by 193.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after purchasing an additional 122 shares during the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Owens Corning during the 4th quarter worth about $34,000. Hedge funds and other institutional investors 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.