Analysts Set Owens Corning (OC) Price Target at $55.57
Owens Corning (NYSE:OC) has earned a consensus rating of “Hold” from the twenty-one ratings firms that are currently covering the company. Three analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $55.87.
A number of brokerages have recently commented on OC. Wells Fargo & Co. initiated coverage on Owens Corning in a report on Thursday, September 29th. They set a “market perform” rating on the stock. Credit Suisse Group AG initiated coverage on Owens Corning in a report on Thursday, August 11th. They issued an “underperform” rating and a $51.00 target price on the stock. MKM Partners reaffirmed a “sell” rating on shares of Owens Corning in a report on Thursday, July 28th. FBR & Co raised their target price on Owens Corning from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Friday, July 29th. Finally, Citigroup Inc. raised their target price on Owens Corning from $41.00 to $43.00 and gave the company a “sell” rating in a report on Friday, July 29th.
In other news, insider Arnaud Genis sold 66,619 shares of Owens Corning 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 completion of the sale, the insider now directly owns 101,538 shares of the company’s stock, valued at approximately $5,552,097.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kelly Schmidt sold 13,200 shares of Owens Corning stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $54.41, for a total value of $718,212.00. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Owens Corning by 2.1% in the second quarter. Vanguard Group Inc. now owns 9,327,924 shares of the company’s stock worth $480,575,000 after buying an additional 194,406 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Owens Corning by 52.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,524,491 shares of the company’s stock worth $284,622,000 after buying an additional 1,889,672 shares during the period. Iridian Asset Management LLC CT bought a new stake in shares of Owens Corning during the second quarter worth approximately $242,405,000. TIAA CREF Investment Management LLC boosted its stake in shares of Owens Corning by 3.5% in the third quarter. TIAA CREF Investment Management LLC now owns 3,758,392 shares of the company’s stock worth $200,661,000 after buying an additional 127,866 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Owens Corning by 7.8% in the second quarter. AQR Capital Management LLC now owns 2,731,267 shares of the company’s stock worth $140,715,000 after buying an additional 197,987 shares during the period.
Owens Corning (NYSE:OC) opened at 53.59 on Tuesday. The company’s 50-day moving average price is $51.11 and its 200-day moving average price is $51.74. The company has a market capitalization of $6.07 billion, a P/E ratio of 15.00 and a beta of 1.15. Owens Corning has a 52 week low of $38.96 and a 52 week high of $58.69.
Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.10. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.32 billion. Owens Corning had a return on equity of 10.77% and a net margin of 7.44%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.96 EPS. On average, equities analysts forecast that Owens Corning will post $3.51 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 2nd. Stockholders of record on Monday, October 17th were paid a $0.18 dividend. The ex-dividend date was Thursday, October 13th. This represents a $0.72 annualized dividend and a dividend yield of 1.34%. Owens Corning’s dividend payout ratio (DPR) is currently 20.17%.
Owens Corning Company Profile
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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