Owens Corning (NYSE:OC) Given Average Rating of “Hold” by Analysts

Owens Corning (NYSE:OCGet Rating) has been assigned a consensus recommendation of “Hold” from the fourteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $102.92.

OC has been the subject of a number of research reports. Bank of America cut Owens Corning from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $119.00 to $80.00 in a report on Friday, June 17th. Barclays lowered their target price on Owens Corning from $100.00 to $91.00 and set an “equal weight” rating for the company in a report on Thursday, July 14th. UBS Group lowered their target price on Owens Corning from $137.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Wells Fargo & Company increased their target price on Owens Corning from $83.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday, July 28th. Finally, The Goldman Sachs Group reduced their price objective on shares of Owens Corning from $90.00 to $77.00 and set a “sell” rating for the company in a research note on Thursday, June 23rd.

Owens Corning Price Performance

OC opened at $83.61 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.87 and a debt-to-equity ratio of 0.66. Owens Corning has a 12 month low of $72.97 and a 12 month high of $101.12. The company has a fifty day simple moving average of $85.62 and a 200 day simple moving average of $87.62. The stock has a market cap of $8.05 billion, a P/E ratio of 7.43, a P/E/G ratio of 0.72 and a beta of 1.53.

Owens Corning (NYSE:OCGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The construction company reported $3.83 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.52. Owens Corning had a net margin of 12.20% and a return on equity of 26.22%. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the prior year, the company earned $2.60 EPS. The firm’s quarterly revenue was up 16.2% on a year-over-year basis. On average, research analysts expect that Owens Corning will post 12.49 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 3rd. Stockholders of record on Monday, October 17th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.67%. Owens Corning’s payout ratio is presently 12.44%.

Insider Buying and Selling

In other Owens Corning news, VP Kelly Schmidt sold 1,940 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $91.93, for a total transaction of $178,344.20. Following the completion of the sale, the vice president now directly owns 15,083 shares in the company, valued at $1,386,580.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Owens Corning news, VP Kelly Schmidt sold 1,940 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $91.93, for a total transaction of $178,344.20. Following the completion of the sale, the vice president now directly owns 15,083 shares in the company, valued at $1,386,580.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director W Howard Morris sold 401 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $84.01, for a total transaction of $33,688.01. Following the sale, the director now owns 39,719 shares of the company’s stock, valued at $3,336,793.19. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Owens Corning

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lindbrook Capital LLC raised its position in shares of Owens Corning by 66.3% in the second quarter. Lindbrook Capital LLC now owns 414 shares of the construction company’s stock valued at $31,000 after buying an additional 165 shares in the last quarter. Huntington National Bank increased its stake in Owens Corning by 1,566.7% in the first quarter. Huntington National Bank now owns 350 shares of the construction company’s stock valued at $32,000 after acquiring an additional 329 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in Owens Corning in the first quarter valued at approximately $37,000. Quadrant Capital Group LLC increased its stake in Owens Corning by 32.0% in the first quarter. Quadrant Capital Group LLC now owns 487 shares of the construction company’s stock valued at $44,000 after acquiring an additional 118 shares during the last quarter. Finally, Eagle Bay Advisors LLC bought a new position in Owens Corning in the second quarter valued at approximately $45,000. 93.64% of the stock is currently owned by institutional investors and hedge funds.

About Owens Corning

(Get Rating)

Owens Corning manufactures and markets insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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Analyst Recommendations for Owens Corning (NYSE:OC)

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