Owens Corning (NYSE:OC) Given New $177.00 Price Target at Citigroup

Owens Corning (NYSE:OC) had its price objective boosted by Citigroup from $149.00 to $177.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

A number of other equities analysts have also commented on OC. Weiss Ratings raised shares of Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 24th. The Goldman Sachs Group upped their target price on shares of Owens Corning from $141.00 to $159.00 and gave the stock a “neutral” rating in a research report on Friday, July 10th. Barclays increased their target price on Owens Corning from $170.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday. Truist Financial set a $198.00 price target on Owens Corning in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Owens Corning from $136.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $163.25.

Owens Corning Stock Performance

Shares of OC opened at $157.22 on Friday. Owens Corning has a 12-month low of $97.53 and a 12-month high of $159.91. The company has a current ratio of 1.16, a quick ratio of 0.74 and a debt-to-equity ratio of 1.10. The company has a market cap of $12.43 billion, a PE ratio of -19.51, a price-to-earnings-growth ratio of 2.89 and a beta of 1.32. The stock has a 50-day moving average price of $136.74 and a 200-day moving average price of $125.16.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, August 5th. The construction company reported $3.93 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.84. Owens Corning had a negative net margin of 6.81% and a positive return on equity of 20.52%. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the prior year, the business earned $4.21 earnings per share. Owens Corning’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, equities analysts forecast that Owens Corning will post 9.65 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 6th. Investors of record on Monday, July 20th were given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Monday, July 20th. Owens Corning’s dividend payout ratio (DPR) is presently -47.81%.

Insiders Place Their Bets

In other Owens Corning news, insider Rachel Barthelemy Marcon sold 700 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total value of $84,497.00. Following the completion of the sale, the insider directly owned 15,848 shares of the company’s stock, valued at $1,913,012.08. The trade was a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Owens Corning

A number of hedge funds and other institutional investors have recently modified their holdings of OC. HM Payson & Co. grew its holdings in shares of Owens Corning by 203.6% in the second quarter. HM Payson & Co. now owns 167 shares of the construction company’s stock worth $27,000 after purchasing an additional 112 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in Owens Corning during the 4th quarter valued at approximately $29,000. Cassaday & Co Wealth Management LLC purchased a new stake in Owens Corning in the 1st quarter worth approximately $30,000. Harbour Investments Inc. lifted its holdings in Owens Corning by 66.5% in the 4th quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock worth $36,000 after buying an additional 129 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Owens Corning in the 4th quarter worth approximately $37,000. Institutional investors own 88.40% of the company’s stock.

Owens Corning Company Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.