Owens Corning (NYSE:OC) Receives $201.75 Consensus PT from Analysts

Shares of Owens Corning (NYSE:OC - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the thirteen analysts that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $201.75.

Several research firms have recently issued reports on OC. Citigroup dropped their price objective on shares of Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Loop Capital decreased their target price on Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a research report on Friday. Barclays raised Owens Corning from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $192.00 to $245.00 in a report on Wednesday, December 11th. The Goldman Sachs Group raised their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Finally, StockNews.com upgraded Owens Corning from a "hold" rating to a "buy" rating in a research note on Saturday, November 9th.

Owens Corning Stock Down 0.6 %

OC stock opened at $166.51 on Monday. The company has a 50 day moving average of $186.88 and a two-hundred day moving average of $177.17. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. Owens Corning has a 12-month low of $138.70 and a 12-month high of $214.53. The company has a market cap of $14.28 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 2.14 and a beta of 1.46.

Owens Corning (NYSE:OC - Get Free Report) last issued its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating analysts' consensus estimates of $4.05 by $0.33. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business's quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.15 earnings per share. On average, equities analysts anticipate that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Monday, January 6th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, January 6th. This is a positive change from Owens Corning's previous quarterly dividend of $0.60. This represents a $2.76 annualized dividend and a yield of 1.66%. Owens Corning's payout ratio is currently 23.49%.

Insiders Place Their Bets

In related news, insider Gunner Smith sold 17,450 shares of the business's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the sale, the insider now directly owns 18,866 shares of the company's stock, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.89% of the company's stock.

Institutional Trading of Owens Corning

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alpha DNA Investment Management LLC increased its holdings in shares of Owens Corning by 147.4% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company's stock worth $754,000 after acquiring an additional 2,544 shares during the last quarter. Penserra Capital Management LLC boosted its position in Owens Corning by 53.3% during the third quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company's stock worth $832,000 after purchasing an additional 1,643 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Owens Corning by 3.1% in the third quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company's stock valued at $1,189,000 after purchasing an additional 200 shares during the last quarter. Atria Investments Inc raised its position in shares of Owens Corning by 93.3% in the third quarter. Atria Investments Inc now owns 13,200 shares of the construction company's stock valued at $2,330,000 after purchasing an additional 6,373 shares during the period. Finally, CWA Asset Management Group LLC acquired a new stake in shares of Owens Corning during the 3rd quarter worth about $1,046,000. 88.40% of the stock is owned by institutional investors.

Owens Corning Company Profile

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.