Owens Corning Inc (NYSE:OC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Owens Corning Inc (NYSE:OC) have been assigned an average recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $148.7273.

OC has been the topic of a number of research analyst reports. Barclays boosted their price target on Owens Corning from $130.00 to $138.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th. Argus raised Owens Corning to a “strong-buy” rating in a report on Wednesday, January 14th. UBS Group boosted their price target on Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Zacks Research cut Owens Corning from a “hold” rating to a “strong sell” rating in a report on Monday, March 16th. Finally, Citigroup lowered their price target on Owens Corning from $137.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, January 8th.

Institutional Trading of Owens Corning

Large investors have recently added to or reduced their stakes in the company. Rexford Capital Inc. bought a new stake in Owens Corning in the 2nd quarter worth approximately $28,000. Itau Unibanco Holding S.A. bought a new stake in Owens Corning in the 4th quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Owens Corning in the 2nd quarter worth approximately $30,000. Harbour Investments Inc. increased its stake in Owens Corning by 66.5% in the 4th quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock worth $36,000 after acquiring an additional 129 shares during the last quarter. Finally, Root Financial Partners LLC bought a new stake in Owens Corning in the 3rd quarter worth approximately $39,000. Institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Down 1.1%

OC stock opened at $105.09 on Wednesday. Owens Corning has a twelve month low of $97.53 and a twelve month high of $159.42. The company has a quick ratio of 0.70, a current ratio of 1.26 and a debt-to-equity ratio of 1.20. The stock has a market cap of $8.45 billion, a P/E ratio of -16.42, a PEG ratio of 1.71 and a beta of 1.35. The business’s 50-day moving average price is $117.71 and its 200-day moving average price is $119.06.

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

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Monday, March 9th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $3.16 dividend on an annualized basis and a yield of 3.0%. Owens Corning’s payout ratio is currently -49.38%.

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.