Brokerages Set Owens Corning (OC) Price Target at $55.29
Shares of Owens Corning (NYSE:OC) have been assigned a consensus rating of “Hold” from the eighteen brokerages that are presently covering the stock. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $55.29.
A number of research analysts have recently commented on the company. Jefferies Group reissued a “buy” rating and set a $63.00 price objective (up previously from $61.00) on shares of Owens Corning in a report on Thursday, July 28th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $62.00 target price (up previously from $57.00) on shares of Owens Corning in a report on Thursday, July 28th. MKM Partners reaffirmed a “sell” rating on shares of Owens Corning in a report on Thursday, July 28th. Goldman Sachs Group Inc. raised Owens Corning from a “sell” rating to a “neutral” rating and raised their target price for the company from $51.00 to $58.00 in a report on Monday, July 11th. Finally, Royal Bank Of Canada raised their target price on Owens Corning from $57.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, July 28th.
In other Owens Corning news, insider Arnaud Genis sold 66,619 shares of the business’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $54.68, for a total value of $3,642,726.92. Following the transaction, the insider now owns 101,538 shares of the company’s stock, valued at $5,552,097.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Daniel T. Smith sold 13,700 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $54.00, for a total value of $739,800.00. Following the completion of the transaction, the vice president now directly owns 58,975 shares in the company, valued at approximately $3,184,650. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of OC. Acrospire Investment Management LLC acquired a new position in Owens Corning during the first quarter worth approximately $109,000. Tower Research Capital LLC TRC purchased a new position in shares of Owens Corning during the second quarter valued at about $171,000. NN Investment Partners Holdings N.V. purchased a new position in shares of Owens Corning during the first quarter valued at about $179,000. Societe Generale purchased a new position in shares of Owens Corning during the second quarter valued at about $208,000. Finally, Ingalls & Snyder LLC purchased a new position in shares of Owens Corning during the second quarter valued at about $224,000.
Owens Corning (NYSE:OC) opened at 52.84 on Monday. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 14.92 and a beta of 1.41. Owens Corning has a 52-week low of $38.96 and a 52-week high of $58.69. The company’s 50-day moving average price is $53.39 and its 200 day moving average price is $51.73.
Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.43. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.46 billion. Owens Corning had a return on equity of 10.57% and a net margin of 7.52%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 EPS. Equities research analysts predict that Owens Corning will post $3.45 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Monday, October 17th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Thursday, October 13th. Owens Corning’s dividend payout ratio is currently 20.28%.
About Owens Corning
Owens Corning is a holding company, which is engaged in the business of composite and building materials systems. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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