Owens Corning Inc (NYSE:OC) Receives $157.50 Average Target Price from Brokerages

Owens Corning Inc (NYSE:OC) has received a consensus recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $157.50.

A number of equities analysts have weighed in on the company. Truist Financial boosted their target price on Owens Corning from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, May 7th. Barclays raised their price target on shares of Owens Corning from $144.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. lifted their price target on shares of Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Weiss Ratings raised shares of Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 24th. Finally, Royal Bank Of Canada increased their price objective on shares of Owens Corning from $148.00 to $172.00 and gave the company an “outperform” rating in a research report on Friday, July 10th.

Owens Corning Stock Up 0.1%

Owens Corning stock opened at $144.04 on Friday. Owens Corning has a 12 month low of $97.53 and a 12 month high of $159.91. The stock has a fifty day simple moving average of $129.08 and a two-hundred day simple moving average of $122.49. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27. The firm has a market cap of $11.60 billion, a price-to-earnings ratio of -21.79, a PEG ratio of 2.79 and a beta of 1.30.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.21. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the prior year, the company posted $2.97 earnings per share. The company’s quarterly revenue was down 10.5% on a year-over-year basis. Equities analysts predict that Owens Corning will post 9.55 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Monday, July 20th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.2%. Owens Corning’s dividend payout ratio (DPR) is presently -47.81%.

Insider Buying and Selling at Owens Corning

In related news, VP Mari Doerfler sold 1,926 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $120.92, for a total value of $232,891.92. Following the transaction, the vice president directly owned 3,093 shares of the company’s stock, valued at approximately $374,005.56. This trade represents a 38.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rachel Barthelemy Marcon sold 700 shares of Owens Corning stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total value of $84,497.00. Following the transaction, the insider owned 15,848 shares in the company, valued at $1,913,012.08. This trade represents a 4.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Merit Financial Group LLC grew its stake in shares of Owens Corning by 145.7% during the 2nd quarter. Merit Financial Group LLC now owns 11,958 shares of the construction company’s stock valued at $1,901,000 after acquiring an additional 7,091 shares during the period. Farther Finance Advisors LLC lifted its holdings in Owens Corning by 33.8% during the second quarter. Farther Finance Advisors LLC now owns 4,973 shares of the construction company’s stock valued at $790,000 after purchasing an additional 1,256 shares in the last quarter. Ballentine Partners LLC purchased a new position in Owens Corning during the second quarter valued at approximately $282,000. Fifth Third Wealth Advisors LLC boosted its position in shares of Owens Corning by 14.4% in the second quarter. Fifth Third Wealth Advisors LLC now owns 3,627 shares of the construction company’s stock worth $577,000 after purchasing an additional 457 shares during the period. Finally, HM Payson & Co. boosted its position in shares of Owens Corning by 203.6% in the second quarter. HM Payson & Co. now owns 167 shares of the construction company’s stock worth $27,000 after purchasing an additional 112 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.