Owens Corning (NYSE:OC) Receives Consensus Rating of "Moderate Buy" from Brokerages

Owens Corning (NYSE:OC - Get Free Report) has been given an average recommendation of "Moderate Buy" by the thirteen analysts that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $194.58.

OC has been the subject of several recent research reports. Barclays decreased their price objective on Owens Corning from $215.00 to $179.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Royal Bank of Canada dropped their price target on shares of Owens Corning from $212.00 to $199.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. reduced their price objective on shares of Owens Corning from $200.00 to $176.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Benchmark restated a "hold" rating on shares of Owens Corning in a research report on Monday, March 3rd. Finally, UBS Group reduced their price target on Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th.

Owens Corning Stock Up 1.9 %

OC opened at $137.00 on Wednesday. Owens Corning has a twelve month low of $123.41 and a twelve month high of $214.53. The company's 50-day moving average price is $146.77 and its two-hundred day moving average price is $171.72. The stock has a market cap of $11.72 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.88 and a beta of 1.39. 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 (NYSE:OC - Get Free Report) last posted its quarterly earnings data 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 return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the business earned $3.21 earnings per share. Owens Corning's revenue for the quarter was up 23.3% on a year-over-year basis. As a group, equities analysts expect that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 10th were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Monday, March 10th. Owens Corning's dividend payout ratio is currently 37.70%.

Insiders Place Their Bets

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the sale, the insider now owns 11,635 shares of the company's stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.82% of the company's stock.

Hedge Funds Weigh In On Owens Corning

Several institutional investors have recently modified their holdings of the company. Stratos Wealth Partners LTD. raised its stake in shares of Owens Corning by 4.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company's stock worth $221,000 after acquiring an additional 53 shares in the last quarter. Greenleaf Trust raised its position in Owens Corning by 1.5% in the 4th quarter. Greenleaf Trust now owns 3,895 shares of the construction company's stock worth $663,000 after purchasing an additional 56 shares during the period. CoreCap Advisors LLC lifted its stake in Owens Corning by 3.3% in the fourth quarter. CoreCap Advisors LLC now owns 1,789 shares of the construction company's stock worth $305,000 after purchasing an additional 57 shares during the last quarter. Retirement Guys Formula LLC boosted its position in Owens Corning by 3.1% during the fourth quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company's stock valued at $341,000 after buying an additional 60 shares during the period. Finally, IFP Advisors Inc grew its stake in shares of Owens Corning by 35.6% during the fourth quarter. IFP Advisors Inc now owns 236 shares of the construction company's stock valued at $40,000 after buying an additional 62 shares during the last quarter. 88.40% of the stock is currently 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.

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