Owens Corning Inc (NYSE:OC) Receives $157.67 Consensus PT from Brokerages

Shares of Owens Corning Inc (NYSE:OC) have been given an average rating of “Hold” by the seventeen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $157.3333.

OC has been the subject of a number of research analyst reports. Truist Financial reduced their price target on shares of Owens Corning from $165.00 to $135.00 and set a “hold” rating for the company in a research note on Thursday, October 9th. Evercore ISI cut their target price on shares of Owens Corning from $121.00 to $117.00 and set an “in-line” rating for the company in a research report on Thursday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Owens Corning in a research note on Monday, December 1st. Barclays dropped their price target on Owens Corning from $173.00 to $131.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Finally, Royal Bank Of Canada reduced their price objective on Owens Corning from $174.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in OC. Norges Bank purchased a new stake in Owens Corning in the 2nd quarter worth approximately $163,719,000. Vanguard Group Inc. increased its stake in shares of Owens Corning by 12.0% in the first quarter. Vanguard Group Inc. now owns 9,815,685 shares of the construction company’s stock worth $1,401,876,000 after purchasing an additional 1,053,855 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Owens Corning by 67.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,380,123 shares of the construction company’s stock valued at $339,930,000 after purchasing an additional 957,295 shares during the period. Nuveen LLC purchased a new position in shares of Owens Corning during the 1st quarter valued at $91,698,000. Finally, First Trust Advisors LP boosted its holdings in Owens Corning by 164.6% in the 2nd quarter. First Trust Advisors LP now owns 920,726 shares of the construction company’s stock worth $126,618,000 after buying an additional 572,770 shares during the period. Institutional investors own 88.40% of the company’s stock.

Owens Corning Trading Up 1.5%

Shares of NYSE OC opened at $113.73 on Thursday. The company has a market cap of $9.35 billion, a PE ratio of -19.88, a P/E/G ratio of 9.15 and a beta of 1.34. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.86 and a current ratio of 1.40. The firm’s 50 day moving average price is $119.35 and its 200-day moving average price is $134.95. Owens Corning has a 52-week low of $97.53 and a 52-week high of $203.68.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, November 5th. The construction company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.64 by $0.03. The business had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.71 billion. Owens Corning had a positive return on equity of 24.42% and a negative net margin of 4.46%.The company’s revenue was down 2.9% compared to the same quarter last year. During the same period last year, the business posted $4.38 EPS. On average, equities research analysts expect that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Monday, January 5th will be issued a dividend of $0.79 per share. This is an increase from Owens Corning’s previous quarterly dividend of $0.69. This represents a $3.16 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, January 5th. Owens Corning’s dividend payout ratio is currently -48.25%.

Owens Corning Company Profile

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.