Owens Corning (NYSE:OC) Lowered to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of Owens Corning (NYSE:OC) from a hold rating to a strong sell rating in a research note released on Monday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. Barclays boosted their price target on Owens Corning from $130.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. Evercore reduced their price objective on shares of Owens Corning from $121.00 to $117.00 and set an “in-line” rating on the stock in a research note on Thursday, December 4th. Royal Bank Of Canada set a $143.00 target price on shares of Owens Corning in a report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Owens Corning in a report on Monday, December 29th. Finally, Argus upgraded shares of Owens Corning to a “strong-buy” rating in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $151.58.

Owens Corning Trading Down 1.1%

Shares of NYSE:OC opened at $107.74 on Monday. The business’s 50 day simple moving average is $122.54 and its 200 day simple moving average is $123.71. Owens Corning has a 1 year low of $97.53 and a 1 year high of $159.42. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.26 and a quick ratio of 0.70. The company has a market capitalization of $8.66 billion, a P/E ratio of -16.83, a P/E/G ratio of 1.76 and a beta of 1.35.

Owens Corning (NYSE:OC) last announced its quarterly earnings data 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). The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. Owens Corning had a negative net margin of 5.17% and a positive return on equity of 21.93%. Owens Corning’s revenue was down 16.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.22 earnings per share. On average, research analysts anticipate that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Monday, March 9th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, March 9th. Owens Corning’s payout ratio is currently -49.38%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Groupama Asset Managment boosted its stake in shares of Owens Corning by 1.8% in the 4th quarter. Groupama Asset Managment now owns 6,153 shares of the construction company’s stock valued at $689,000 after purchasing an additional 106 shares in the last quarter. River Road Asset Management LLC grew its holdings in shares of Owens Corning by 3.0% during the 4th quarter. River Road Asset Management LLC now owns 348,116 shares of the construction company’s stock valued at $38,958,000 after purchasing an additional 10,193 shares during the last quarter. Pacer Advisors Inc. increased its position in Owens Corning by 200.5% during the 4th quarter. Pacer Advisors Inc. now owns 381,887 shares of the construction company’s stock worth $42,737,000 after purchasing an additional 254,793 shares in the last quarter. Kera Capital Partners Inc. lifted its stake in Owens Corning by 18.7% in the 4th quarter. Kera Capital Partners Inc. now owns 3,164 shares of the construction company’s stock valued at $379,000 after purchasing an additional 499 shares during the last quarter. Finally, Virtu Financial LLC lifted its stake in Owens Corning by 18.4% in the 4th quarter. Virtu Financial LLC now owns 3,286 shares of the construction company’s stock valued at $368,000 after purchasing an additional 511 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

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.