Owens Corning Inc (NYSE:OC) Receives $151.58 Consensus Price Target from Analysts

Owens Corning Inc (NYSE:OC) has earned a consensus rating of “Moderate Buy” from the seventeen brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $151.5833.

A number of research analysts recently issued reports on OC shares. Zacks Research upgraded Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. UBS Group boosted their price objective on Owens Corning from $160.00 to $172.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Barclays increased their price objective on Owens Corning from $130.00 to $138.00 and gave the company an “overweight” rating in a report on Thursday, January 15th. Argus raised shares of Owens Corning to a “strong-buy” rating in a report on Wednesday, January 14th. Finally, Citigroup reduced their price target on shares of Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, January 8th.

Owens Corning Stock Performance

NYSE OC opened at $107.83 on Friday. The company has a fifty day moving average of $122.77 and a two-hundred day moving average of $124.11. The company has a market capitalization of $8.67 billion, a PE ratio of -16.85, a P/E/G ratio of 1.72 and a beta of 1.35. Owens Corning has a 1 year low of $97.53 and a 1 year high of $159.42. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.26 and a quick ratio of 0.70.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, February 25th. The construction company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.26). Owens Corning had a positive return on equity of 21.93% and a negative net margin of 5.17%.The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter last year, the firm posted $3.22 EPS. The firm’s revenue for the quarter was down 16.8% on a year-over-year basis. As a group, analysts expect that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Monday, March 9th will be paid a $0.79 dividend. The ex-dividend date is Monday, March 9th. This represents a $3.16 dividend on an annualized basis and a yield of 2.9%. Owens Corning’s payout ratio is currently -49.38%.

Institutional Investors Weigh In On Owens Corning

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Owens Corning by 1.3% during the second quarter. Vanguard Group Inc. now owns 9,947,480 shares of the construction company’s stock worth $1,367,977,000 after buying an additional 131,795 shares during the last quarter. State Street Corp raised its stake in Owens Corning by 2.3% during the 3rd quarter. State Street Corp now owns 3,634,987 shares of the construction company’s stock valued at $514,205,000 after acquiring an additional 81,133 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Owens Corning by 9.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,594,229 shares of the construction company’s stock valued at $290,321,000 after acquiring an additional 231,871 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Owens Corning by 33.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,576,405 shares of the construction company’s stock worth $288,332,000 after acquiring an additional 645,773 shares during the period. Finally, Davis Selected Advisers lifted its position in Owens Corning by 15.1% during the 4th quarter. Davis Selected Advisers now owns 2,046,583 shares of the construction company’s stock worth $229,035,000 after acquiring an additional 269,216 shares during the period. 88.40% of the stock is owned by hedge funds and other institutional investors.

About Owens Corning

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.