Analysts Set Owens Corning Inc (NYSE:OC) PT at $185.10

Owens Corning Inc (NYSE:OC) has been given an average rating of “Moderate Buy” by the twelve ratings firms that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $185.10.

OC has been the subject of a number of analyst reports. Evercore ISI raised their price target on Owens Corning from $165.00 to $169.00 and gave the stock an “in-line” rating in a report on Friday, August 8th. Royal Bank Of Canada cut their price target on Owens Corning from $184.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. Wells Fargo & Company raised their price target on Owens Corning from $170.00 to $175.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. UBS Group cut their price target on Owens Corning from $218.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Finally, Barclays raised their price target on 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

NYSE:OC opened at $143.71 on Friday. 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 business has a fifty day simple moving average of $147.55 and a two-hundred day simple moving average of $142.52. Owens Corning has a 1 year low of $123.40 and a 1 year high of $214.53. The company has a market capitalization of $12.02 billion, a P/E ratio of 37.33, a P/E/G ratio of 10.31 and a beta of 1.32.

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

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Monday, October 20th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, October 20th. Owens Corning’s dividend payout ratio (DPR) is presently 71.69%.

Institutional Investors Weigh In On Owens Corning

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Owens Corning by 1.3% during the second quarter. Vanguard Group Inc. now owns 9,947,480 shares of the construction company’s stock valued at $1,367,977,000 after buying an additional 131,795 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Owens Corning by 67.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,380,123 shares of the construction company’s stock valued at $339,930,000 after buying an additional 957,295 shares during the period. Nordea Investment Management AB boosted 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 valued at $305,291,000 after buying an additional 15,927 shares during the period. LSV Asset Management boosted 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 valued at $210,812,000 after buying an additional 27,185 shares during the period. Finally, Norges Bank bought a new stake in Owens Corning during the second quarter valued at $163,719,000. Institutional investors own 88.40% of the company’s stock.

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.