Owens Corning Inc (NYSE:OC) Given Average Rating of “Moderate Buy” by Brokerages

Owens Corning Inc (NYSE:OC) has been given an average recommendation of “Moderate Buy” by the seventeen brokerages that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $151.5833.

A number of research analysts have recently weighed in on OC shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Owens Corning in a research note on Monday, December 29th. UBS Group upped their target price on Owens Corning from $160.00 to $172.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Zacks Research downgraded Owens Corning from a “hold” rating to a “strong sell” rating in a research report on Monday, March 16th. Citigroup cut their price target on Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Finally, Evercore reduced their price objective on Owens Corning from $121.00 to $117.00 and set an “in-line” rating on the stock in a research report on Thursday, December 4th.

Owens Corning Price Performance

Shares of NYSE OC opened at $99.97 on Friday. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of -15.62, a PEG ratio of 1.67 and a beta of 1.35. Owens Corning has a 52 week low of $97.53 and a 52 week high of $159.42. The company’s 50-day moving average price is $121.82 and its 200 day moving average price is $123.22. The company has a current ratio of 1.26, a quick ratio of 0.70 and a debt-to-equity ratio of 1.20.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, February 25th. The construction company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.26). Owens Corning had a negative net margin of 5.17% and a positive return on equity of 21.93%. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter last year, the business posted $3.22 earnings per share. The business’s revenue was down 16.8% compared to the same quarter last year. As a group, research analysts forecast that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Monday, March 9th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $3.16 annualized dividend and a yield of 3.2%. Owens Corning’s payout ratio is presently -49.38%.

Institutional Investors Weigh In On Owens Corning

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Owens Corning by 1.3% during the second quarter. Vanguard Group Inc. now owns 9,947,480 shares of the construction company’s stock worth $1,367,977,000 after buying an additional 131,795 shares in the last quarter. State Street Corp lifted its stake in shares of Owens Corning by 2.3% during the third quarter. State Street Corp now owns 3,634,987 shares of the construction company’s stock valued at $514,205,000 after buying an additional 81,133 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Owens Corning by 9.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,594,229 shares of the construction company’s stock worth $290,321,000 after acquiring an additional 231,871 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Owens Corning by 33.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,576,405 shares of the construction company’s stock worth $288,332,000 after acquiring an additional 645,773 shares during the last quarter. Finally, Davis Selected Advisers grew its stake in Owens Corning by 15.1% in the 4th quarter. Davis Selected Advisers now owns 2,046,583 shares of the construction company’s stock worth $229,035,000 after acquiring an additional 269,216 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Company Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.