Owens Corning (NYSE:OC) Receives $189.45 Consensus PT from Analysts

Owens Corning (NYSE:OC) has earned a consensus rating of “Moderate Buy” from the thirteen research firms that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $186.64.

A number of research firms have recently commented on OC. Royal Bank of Canada reduced their price objective on shares of Owens Corning from $199.00 to $184.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Loop Capital decreased their target price on shares of Owens Corning from $203.00 to $180.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. JPMorgan Chase & Co. decreased their target price on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Finally, UBS Group cut their price target on shares of Owens Corning from $235.00 to $218.00 and set a “buy” rating for the company in a research note on Thursday, May 8th.

Owens Corning Trading Down 0.8%

NYSE OC opened at $141.21 on Friday. The stock has a market capitalization of $12.01 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 1.88 and a beta of 1.44. The stock’s 50 day moving average price is $141.21 and its two-hundred day moving average price is $166.03. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a 52 week low of $123.41 and a 52 week high of $214.53.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, May 7th. The construction company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.15. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.52 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm’s revenue was up 25.4% compared to the same quarter last year. During the same period last year, the company earned $3.40 earnings per share. As a group, analysts anticipate that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning announced that its Board of Directors has initiated a share repurchase program on Wednesday, May 14th that permits the company to buyback 12,000,000 shares. This buyback authorization permits the construction company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Owens Corning

Hedge funds have recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new position in Owens Corning during the 4th quarter worth $28,000. Venturi Wealth Management LLC grew its stake in shares of Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after acquiring an additional 63 shares in the last quarter. Global Trust Asset Management LLC acquired a new position in shares of Owens Corning in the fourth quarter valued at about $31,000. Wilmington Savings Fund Society FSB grew its stake in shares of Owens Corning by 193.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after acquiring an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in Owens Corning in the 4th quarter valued at about $34,000. 88.40% of the stock is owned by institutional investors and hedge funds.

About Owens Corning

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.