Barclays Issues Pessimistic Forecast for Owens Corning (NYSE:OC) Stock Price

Owens Corning (NYSE:OC - Free Report) had its target price reduced by Barclays from $245.00 to $215.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an overweight rating on the construction company's stock.

Several other equities research analysts also recently commented on OC. UBS Group reduced their target price on shares of Owens Corning from $245.00 to $235.00 and set a "buy" rating on the stock in a research note on Tuesday. Royal Bank of Canada cut their price target on Owens Corning from $224.00 to $212.00 and set an "outperform" rating for the company in a report on Tuesday. Loop Capital cut their price target on Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a report on Friday, January 10th. Citigroup cut their price target on Owens Corning from $212.00 to $207.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, Wells Fargo & Company cut their price target on Owens Corning from $225.00 to $200.00 and set an "overweight" rating for the company in a report on Tuesday. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $207.00.

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Owens Corning Price Performance

Shares of NYSE:OC traded up $1.90 on Wednesday, hitting $153.96. The stock had a trading volume of 1,308,555 shares, compared to its average volume of 833,903. Owens Corning has a twelve month low of $148.78 and a twelve month high of $214.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The firm's 50 day moving average price is $175.41 and its 200-day moving average price is $178.64. The company has a market capitalization of $13.17 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 1.88 and a beta of 1.46.

Owens Corning (NYSE:OC - Get Free Report) last issued its earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating the consensus estimate of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the company earned $3.21 EPS. The firm's revenue for the quarter was up 23.3% compared to the same quarter last year. On average, equities research analysts predict that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be given a $0.69 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.79%. Owens Corning's dividend payout ratio is 37.70%.

Insider Activity at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the sale, the insider now directly owns 18,866 shares in the company, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Monaco Nicolas Del sold 1,750 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Owens Corning

Hedge funds have recently made changes to their positions in the business. Truist Financial Corp grew its stake in shares of Owens Corning by 4.0% during the 4th quarter. Truist Financial Corp now owns 16,038 shares of the construction company's stock worth $2,732,000 after acquiring an additional 624 shares in the last quarter. Alpha DNA Investment Management LLC grew its stake 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 in the last quarter. Janus Henderson Group PLC grew its stake in shares of Owens Corning by 3.1% during the 3rd quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company's stock worth $1,189,000 after acquiring an additional 200 shares in the last quarter. Penserra Capital Management LLC grew its stake in shares of Owens Corning by 53.3% during the 3rd quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company's stock worth $832,000 after acquiring an additional 1,643 shares in the last quarter. Finally, Atria Investments Inc grew its stake in shares of Owens Corning by 93.3% during the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company's stock worth $2,330,000 after acquiring an additional 6,373 shares in the last quarter. 88.40% of the stock is owned by institutional investors.

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.