Owens Corning (NYSE:OC) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Owens Corning (NYSE:OC) have been assigned a consensus rating of “Hold” from the fourteen analysts that are currently covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $168.21.

Several brokerages have recently issued reports on OC. Citigroup increased their price objective on shares of Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Evercore ISI lifted their price target on Owens Corning from $154.00 to $172.00 and gave the company an “in-line” rating in a research note on Thursday, April 25th. UBS Group upped their price objective on Owens Corning from $169.00 to $192.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Barclays lowered Owens Corning from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $170.00 to $160.00 in a research report on Monday, February 12th. Finally, Truist Financial upped their price target on Owens Corning from $115.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, February 15th.

Insider Activity

In other news, EVP Paula Russell sold 3,765 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value of $609,930.00. Following the sale, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Owens Corning news, insider Gunner Smith sold 7,442 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $148.99, for a total value of $1,108,783.58. Following the transaction, the insider now directly owns 36,140 shares in the company, valued at $5,384,498.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Paula Russell sold 3,765 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the sale, the executive vice president now owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. increased its position in Owens Corning by 156.1% during the 3rd quarter. Invesco Ltd. now owns 1,487,665 shares of the construction company’s stock worth $202,932,000 after buying an additional 906,782 shares during the period. Pacer Advisors Inc. increased its position in Owens Corning by 6,116.6% during the fourth quarter. Pacer Advisors Inc. now owns 832,594 shares of the construction company’s stock worth $123,415,000 after acquiring an additional 819,201 shares during the period. Norges Bank acquired a new stake in Owens Corning in the 4th quarter worth about $118,251,000. Nordea Investment Management AB boosted its holdings in Owens Corning by 74.4% in the 1st quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock valued at $210,040,000 after purchasing an additional 533,910 shares during the period. Finally, Federated Hermes Inc. increased its holdings in shares of Owens Corning by 1,602.4% during the third quarter. Federated Hermes Inc. now owns 475,539 shares of the construction company’s stock worth $64,868,000 after purchasing an additional 447,606 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Down 1.3 %

NYSE:OC opened at $174.92 on Wednesday. Owens Corning has a 1 year low of $103.65 and a 1 year high of $178.33. The stock has a 50-day moving average price of $163.78 and a two-hundred day moving average price of $148.77. The stock has a market cap of $15.16 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 5.24 and a beta of 1.45. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.50.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.55. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.28 billion. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. Owens Corning’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.77 EPS. As a group, equities analysts expect that Owens Corning will post 15.37 earnings per share for the current year.

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.