Owens Corning Inc (NYSE:OC) Given Consensus Recommendation of “Moderate Buy” by Analysts

Owens Corning Inc (NYSE:OC) has earned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $178.3077.

OC has been the subject of a number of analyst reports. Evercore ISI reduced their price target on Owens Corning from $169.00 to $153.00 and set an “in-line” rating for the company in a report on Tuesday, October 7th. Jefferies Financial Group dropped their price target on shares of Owens Corning from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Weiss Ratings restated a “hold (c)” rating on shares of Owens Corning in a research note on Wednesday, October 8th. Bank of America decreased their price objective on shares of Owens Corning from $180.00 to $168.00 and set a “buy” rating for the company in a report on Wednesday, October 1st. Finally, Barclays raised their price objective on shares of Owens Corning from $167.00 to $173.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th.

Owens Corning Stock Performance

Owens Corning stock opened at $128.15 on Wednesday. Owens Corning has a 12-month low of $123.23 and a 12-month high of $214.53. The company has a market capitalization of $10.72 billion, a price-to-earnings ratio of 33.29, a price-to-earnings-growth ratio of 9.11 and a beta of 1.32. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.52 and a quick ratio of 0.95. The firm’s fifty day moving average price is $146.00 and its 200 day moving average price is $141.64.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, August 6th. The construction company reported $4.21 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.41. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. Owens Corning had a return on equity of 24.49% and a net margin of 2.98%.The company’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm earned $4.64 earnings per share. On average, research analysts forecast that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Monday, October 20th will be paid a dividend of $0.69 per share. The ex-dividend date is Monday, October 20th. This represents a $2.76 annualized dividend and a yield of 2.2%. Owens Corning’s dividend payout ratio is presently 71.69%.

Institutional Investors Weigh In On Owens Corning

A number of institutional investors have recently made changes to their positions in OC. Vanguard Group Inc. boosted its holdings in Owens Corning by 1.3% in the second quarter. Vanguard Group Inc. now owns 9,947,480 shares of the construction company’s stock worth $1,367,977,000 after purchasing an additional 131,795 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Owens Corning by 67.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,380,123 shares of the construction company’s stock worth $339,930,000 after buying an additional 957,295 shares during the last quarter. Nordea Investment Management AB raised its stake in Owens Corning by 0.7% during the second quarter. Nordea Investment Management AB now owns 2,225,800 shares of the construction company’s stock worth $305,291,000 after acquiring an additional 15,927 shares during the period. LSV Asset Management raised its stake in Owens Corning by 1.9% during the first quarter. LSV Asset Management now owns 1,476,067 shares of the construction company’s stock worth $210,812,000 after acquiring an additional 27,185 shares during the period. Finally, Norges Bank acquired a new stake in Owens Corning during the second quarter worth about $163,719,000. 88.40% of the stock is currently owned by institutional investors.

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.