Brokerages Set Owens Corning (NYSE:OC) Target Price at $184.23

Shares of Owens Corning (NYSE:OC - Get Free Report) have been given an average recommendation of "Moderate Buy" by the fourteen ratings firms that are currently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $184.23.

OC has been the subject of a number of research analyst reports. StockNews.com cut shares of Owens Corning from a "buy" rating to a "hold" rating in a research note on Tuesday. Royal Bank of Canada raised their target price on Owens Corning from $211.00 to $213.00 and gave the company an "outperform" rating in a research note on Wednesday, August 7th. Evercore ISI reduced their price target on shares of Owens Corning from $188.00 to $175.00 and set an "in-line" rating on the stock in a research report on Wednesday, August 7th. The Goldman Sachs Group restated a "neutral" rating and issued a $187.00 price objective on shares of Owens Corning in a research report on Monday, June 17th. Finally, Barclays decreased their price target on shares of Owens Corning from $190.00 to $189.00 and set an "equal weight" rating on the stock in a research note on Friday, July 12th.

Insider Buying and Selling at Owens Corning

In related news, insider Marcio A. Sandri sold 3,050 shares of the firm's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the sale, the insider now owns 60,130 shares of the company's stock, valued at approximately $10,222,100. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Marcio A. Sandri sold 3,050 shares of the firm's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the sale, the insider now directly owns 60,130 shares in the company, valued at $10,222,100. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Marcio A. Sandri sold 3,051 shares of the company's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the transaction, the insider now directly owns 57,079 shares of the company's stock, valued at approximately $10,074,443.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.89% of the company's stock.

Institutional Investors Weigh In On Owens Corning

Hedge funds and other institutional investors have recently bought and sold shares of the company. MV Capital Management Inc. boosted its stake in shares of Owens Corning by 112.9% during the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company's stock worth $25,000 after buying an additional 79 shares during the last quarter. ST Germain D J Co. Inc. grew its stake in Owens Corning by 794.1% in the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company's stock valued at $26,000 after purchasing an additional 135 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of Owens Corning during the 1st quarter worth approximately $26,000. Riverview Trust Co bought a new stake in shares of Owens Corning during the 1st quarter worth approximately $28,000. Finally, ORG Partners LLC acquired a new stake in shares of Owens Corning in the 1st quarter valued at approximately $31,000. Institutional investors and hedge funds own 88.40% of the company's stock.

Owens Corning Price Performance

NYSE:OC traded down $0.44 during trading hours on Friday, reaching $172.01. The company had a trading volume of 496,811 shares, compared to its average volume of 676,180. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91. The stock has a 50-day moving average of $167.05 and a two-hundred day moving average of $170.57. Owens Corning has a one year low of $109.95 and a one year high of $191.13. The firm has a market capitalization of $14.91 billion, a PE ratio of 13.93, a PEG ratio of 3.47 and a beta of 1.41.

Owens Corning (NYSE:OC - Get Free Report) last announced its earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.37 by $0.27. The business had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.92 billion. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the company posted $4.22 EPS. Analysts forecast that Owens Corning will post 15.38 earnings per share for the current year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 18th will be paid a $0.60 dividend. The ex-dividend date is Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.40%. Owens Corning's dividend payout ratio (DPR) is presently 19.43%.

About Owens Corning

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.