Owens Corning (OC) – Analysts’ Recent Ratings Changes
A number of research firms have changed their ratings and price targets for Owens Corning (NYSE: OC):
- 10/3/2017 – Owens Corning had its “buy” rating reaffirmed by analysts at Royal Bank Of Canada.
- 10/3/2017 – Owens Corning had its price target raised by analysts at Citigroup Inc. from $49.00 to $69.00. They now have a “sell” rating on the stock.
- 9/13/2017 – Owens Corning had its “buy” rating reaffirmed by analysts at KeyCorp. They now have a $84.00 price target on the stock.
- 9/12/2017 – Owens Corning had its “hold” rating reaffirmed by analysts at SunTrust Banks, Inc..
- 9/11/2017 – Owens Corning had its “neutral” rating reaffirmed by analysts at Nomura. They now have a $79.00 price target on the stock.
- 9/11/2017 – Owens Corning was downgraded by analysts at Instinet from a “buy” rating to a “neutral” rating. They now have a $79.00 price target on the stock, up previously from $74.00.
- 9/1/2017 – Owens Corning had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $83.00 price target on the stock.
- 8/30/2017 – Owens Corning was upgraded by analysts at Wells Fargo & Company from a “market perform” rating to an “outperform” rating. They now have a $83.00 price target on the stock, up previously from $68.00.
- 8/25/2017 – Owens Corning was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
Owens Corning Inc (NYSE OC) traded up 0.43% during midday trading on Tuesday, hitting $78.61. The stock had a trading volume of 910,650 shares. Owens Corning Inc has a 12-month low of $46.45 and a 12-month high of $78.97. The company has a market cap of $8.74 billion, a price-to-earnings ratio of 22.58 and a beta of 1.05. The company has a 50-day moving average price of $73.01 and a 200-day moving average price of $66.01.
Owens Corning (NYSE:OC) last released its earnings results on Wednesday, July 26th. The construction company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.12. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.48 billion. Owens Corning had a net margin of 6.61% and a return on equity of 11.12%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.29 earnings per share. Equities analysts anticipate that Owens Corning Inc will post $4.30 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 2nd. Investors of record on Monday, October 16th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, October 13th. This represents a $0.80 annualized dividend and a yield of 1.02%. Owens Corning’s dividend payout ratio (DPR) is 23.05%.
In related news, Chairman Michael H. Thaman sold 130,700 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $74.95, for a total transaction of $9,795,965.00. Following the completion of the transaction, the chairman now owns 847,992 shares in the company, valued at approximately $63,557,000.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael C. Mcmurray sold 14,000 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $76.52, for a total value of $1,071,280.00. Following the transaction, the chief financial officer now owns 40,903 shares of the company’s stock, valued at approximately $3,129,897.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 212,866 shares of company stock worth $15,644,970. 1.80% of the stock is owned by company insiders.
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.
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