Shares of Owens Corning Inc (NYSE:OC) have received a consensus recommendation of “Buy” from the twenty-four brokerages that are presently covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $70.53.

A number of research firms recently commented on OC. BidaskClub upgraded Owens Corning from a “sell” rating to a “hold” rating in a research report on Friday. Royal Bank Of Canada reiterated a “buy” rating and set a $79.00 price objective on shares of Owens Corning in a research report on Friday, July 28th. Stifel Nicolaus reiterated a “buy” rating and set a $83.00 price objective on shares of Owens Corning in a research report on Friday, July 28th. Jefferies Group LLC reiterated a “buy” rating and set a $82.00 price objective on shares of Owens Corning in a research report on Thursday, July 27th. Finally, FBR & Co upped their price objective on Owens Corning from $63.00 to $70.00 and gave the company a “mkt perform” rating in a research report on Thursday, July 27th.

Owens Corning (NYSE:OC) traded up 1.08% during trading on Tuesday, hitting $69.90. 585,601 shares of the company’s stock traded hands. The company has a market cap of $7.77 billion, a PE ratio of 20.08 and a beta of 1.11. The company’s 50 day moving average price is $66.82 and its 200 day moving average price is $62.91. Owens Corning has a 52-week low of $46.45 and a 52-week high of $70.24.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, July 26th. The construction company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.12. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Owens Corning had a return on equity of 11.12% and a net margin of 6.61%. Owens Corning’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.29 earnings per share. Analysts expect that Owens Corning will post $4.28 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Investors of record on Monday, July 17th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Thursday, July 13th. Owens Corning’s dividend payout ratio is currently 23.05%.

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In related news, insider Arnaud Genis sold 21,544 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $65.44, for a total transaction of $1,409,839.36. Following the completion of the transaction, the insider now directly owns 80,143 shares of the company’s stock, valued at $5,244,557.92. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Brian Chambers sold 16,600 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $67.18, for a total value of $1,115,188.00. Following the transaction, the insider now directly owns 39,957 shares of the company’s stock, valued at $2,684,311.26. The disclosure for this sale can be found here. Insiders have sold 40,144 shares of company stock valued at $2,654,227 in the last quarter. 1.80% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Raymond James Trust N.A. raised its position in shares of Owens Corning by 0.4% in the second quarter. Raymond James Trust N.A. now owns 7,114 shares of the construction company’s stock worth $476,000 after buying an additional 26 shares during the last quarter. World Asset Management Inc raised its position in shares of Owens Corning by 1.1% in the first quarter. World Asset Management Inc now owns 4,941 shares of the construction company’s stock worth $303,000 after buying an additional 52 shares during the last quarter. Opus Capital Group LLC raised its position in shares of Owens Corning by 1.5% in the first quarter. Opus Capital Group LLC now owns 5,126 shares of the construction company’s stock worth $314,000 after buying an additional 76 shares during the last quarter. Laurion Capital Management LP raised its position in shares of Owens Corning by 1.8% in the first quarter. Laurion Capital Management LP now owns 5,700 shares of the construction company’s stock worth $350,000 after buying an additional 103 shares during the last quarter. Finally, First Bank & Trust raised its position in shares of Owens Corning by 3.6% in the second quarter. First Bank & Trust now owns 3,024 shares of the construction company’s stock worth $202,000 after buying an additional 104 shares during the last quarter.

Owens Corning Company Profile

Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. 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.

Analyst Recommendations for Owens Corning (NYSE:OC)

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