#2 - Owens Corning (NYSE:OC)
Owens Corning (NYSE: OC) is a company that is adjacent to the homebuilding industry. The company provides several of the core building materials needed in both the residential and commercial building industries. The company operates in three core areas: roofing, insulation, and composites.
OC stock is trading near the top of its 52-week range. However, there still appears to be value for investors. For starters, the stock is trading at around 11x forward earnings. Second, the company continues to beat analysts’ estimates. And although top line revenue growth is slowing, the company is making up for it on its bottom line, which shows strong year-over-year growth.
Some analysts may believe that growth is priced into the stock. However, that doesn’t seem to be the case, according to the analyst ratings on MarketBeat, which show that several analysts have a price target significantly higher than the consensus price of $172.07. Plus, the company is committed to returning 50% of its free cash flow, which was $128 million in the first quarter of 2024, to 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.
Read More - Current Price
- $182.57
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 7 Buy Ratings, 7 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $187.77 (2.8% Upside)
