Owens Corning (NYSE:OC) Given New $138.00 Price Target at Bank of America

Owens Corning (NYSE:OC) had its price objective cut by Bank of America from $140.00 to $138.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Other analysts have also issued research reports about the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Owens Corning in a research note on Friday, March 27th. Wells Fargo & Company boosted their price target on Owens Corning from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday. Royal Bank Of Canada set a $143.00 price target on Owens Corning in a research note on Friday, January 9th. UBS Group boosted their price objective on Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Finally, Citigroup reduced their price objective on Owens Corning from $137.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $143.91.

Owens Corning Price Performance

Shares of OC stock opened at $123.87 on Monday. The stock’s fifty day simple moving average is $116.04 and its 200 day simple moving average is $117.52. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.26 and a quick ratio of 0.70. The firm has a market cap of $9.96 billion, a price-to-earnings ratio of -19.35, a P/E/G ratio of 2.11 and a beta of 1.35. Owens Corning has a one year low of $97.53 and a one year high of $159.42.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, February 25th. The construction company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.26). The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. Owens Corning had a negative net margin of 5.17% and a positive return on equity of 21.93%. Owens Corning’s quarterly revenue was down 16.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.22 EPS. On average, analysts expect that Owens Corning will post 9.43 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Monday, March 9th were paid a $0.79 dividend. The ex-dividend date of this dividend was Monday, March 9th. This represents a $3.16 dividend on an annualized basis and a yield of 2.6%. Owens Corning’s payout ratio is currently -49.38%.

Hedge Funds Weigh In On Owens Corning

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Itau Unibanco Holding S.A. bought a new stake in shares of Owens Corning during the fourth quarter worth $29,000. Harbour Investments Inc. raised its position in shares of Owens Corning by 66.5% during the fourth 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. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Owens Corning during the fourth quarter worth $37,000. Root Financial Partners LLC bought a new stake in shares of Owens Corning during the third quarter worth $39,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of Owens Corning during the third quarter worth $42,000. Institutional investors and hedge funds 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.