Owens Corning Inc (NYSE:OC) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Owens Corning Inc (NYSE:OC) have been given an average recommendation of “Moderate Buy” by the eighteen brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $149.75.

Several brokerages have recently issued reports on OC. UBS Group decreased their price target on shares of Owens Corning from $179.00 to $160.00 and set a “buy” rating for the company in a report on Tuesday, January 6th. Citigroup decreased their target price on Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Wells Fargo & Company increased their price target on Owens Corning from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Jefferies Financial Group cut their price objective on Owens Corning from $185.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Finally, Evercore ISI lowered their target price on Owens Corning from $121.00 to $117.00 and set an “in-line” rating for the company in a research note on Thursday, December 4th.

Owens Corning Stock Performance

Shares of OC stock opened at $125.38 on Friday. The stock has a market cap of $10.30 billion, a PE ratio of -21.92, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The stock has a 50-day moving average of $113.79 and a 200-day moving average of $130.30. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.40 and a quick ratio of 0.86. Owens Corning has a one year low of $97.53 and a one year high of $192.96.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, November 5th. The construction company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.64 by $0.03. Owens Corning had a negative net margin of 4.46% and a positive return on equity of 24.42%. The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter in the previous year, the company earned $4.38 earnings per share. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, sell-side analysts expect that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders of record on Monday, January 5th were given a dividend of $0.79 per share. This is a positive change from Owens Corning’s previous quarterly dividend of $0.69. This represents a $3.16 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, January 5th. Owens Corning’s payout ratio is currently -55.24%.

Hedge Funds Weigh In On Owens Corning

Large investors have recently added to or reduced their stakes in the company. Ossiam lifted its holdings in shares of Owens Corning by 5.9% in the second quarter. Ossiam now owns 1,254 shares of the construction company’s stock valued at $172,000 after purchasing an additional 70 shares in the last quarter. Pitcairn Co. lifted its stake in Owens Corning by 4.6% in the 2nd quarter. Pitcairn Co. now owns 1,821 shares of the construction company’s stock valued at $250,000 after acquiring an additional 80 shares in the last quarter. Archer Investment Corp boosted its position in Owens Corning by 13.3% during the 3rd quarter. Archer Investment Corp now owns 748 shares of the construction company’s stock worth $106,000 after acquiring an additional 88 shares during the last quarter. Brown Advisory Inc. boosted its position in Owens Corning by 0.8% during the 2nd quarter. Brown Advisory Inc. now owns 11,847 shares of the construction company’s stock worth $1,629,000 after acquiring an additional 96 shares during the last quarter. Finally, State of Michigan Retirement System grew its stake in shares of Owens Corning by 0.4% during the 2nd quarter. State of Michigan Retirement System now owns 24,588 shares of the construction company’s stock worth $3,381,000 after acquiring an additional 100 shares in the last quarter. 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.