Owens Corning (NYSE:OC) Price Target Raised to $140.00

Owens Corning (NYSE:OC) had its price objective boosted by Truist Financial from $125.00 to $140.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a hold rating on the construction company’s stock.

Several other research analysts also recently commented on the company. Royal Bank Of Canada boosted their target price on Owens Corning from $148.00 to $172.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th. The Goldman Sachs Group raised their price target on shares of Owens Corning from $141.00 to $159.00 and gave the company a “neutral” rating in a research note on Friday, July 10th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a report on Wednesday, July 15th. Evercore restated an “outperform” rating and issued a $193.00 target price on shares of Owens Corning in a research report on Thursday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Owens Corning from $136.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Owens Corning presently has a consensus rating of “Moderate Buy” and an average price target of $163.25.

Owens Corning Trading Up 4.4%

Shares of OC stock opened at $157.22 on Thursday. Owens Corning has a fifty-two week low of $97.53 and a fifty-two week high of $159.91. The stock’s fifty day moving average price is $136.74 and its two-hundred day moving average price is $125.16. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.74 and a current ratio of 1.16. The company has a market cap of $12.43 billion, a PE ratio of -19.51, a P/E/G ratio of 3.02 and a beta of 1.32.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, August 5th. The construction company reported $3.93 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.84. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%.The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the firm earned $4.21 EPS. Owens Corning’s revenue was up .3% on a year-over-year basis. Equities analysts predict that Owens Corning will post 9.65 EPS for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 6th. Investors of record on Monday, July 20th were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Monday, July 20th. Owens Corning’s dividend payout ratio (DPR) is -47.81%.

Insider Buying and Selling

In other Owens Corning news, insider Rachel Barthelemy Marcon sold 700 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total transaction of $84,497.00. Following the sale, the insider directly owned 15,848 shares of the company’s stock, valued at $1,913,012.08. The trade was a 4.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Owens Corning

Hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its holdings in Owens Corning by 61.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock worth $69,000 after buying an additional 184 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Owens Corning in the second quarter valued at about $277,000. EverSource Wealth Advisors LLC increased its stake in shares of Owens Corning by 1,433.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,273 shares of the construction company’s stock valued at $175,000 after buying an additional 1,190 shares during the period. Cerity Partners LLC raised its position in shares of Owens Corning by 294.3% during the second quarter. Cerity Partners LLC now owns 17,372 shares of the construction company’s stock worth $2,389,000 after acquiring an additional 12,966 shares during the last quarter. Finally, Bank of Nova Scotia lifted its stake in shares of Owens Corning by 12.2% in the second quarter. Bank of Nova Scotia now owns 3,059 shares of the construction company’s stock worth $421,000 after acquiring an additional 333 shares during the period. Institutional investors and hedge funds 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.