Owens Corning Inc (NYSE:OC) Stock Has Average Target Price of $141.57

Key Points

• Analyst sentiment is mixed: Eighteen analysts have a consensus “Hold” rating on Owens Corning, with an average 12-month price target of $141.57 versus the stock’s $114.27 opening price.
• Recent results exceeded expectations: The company reported quarterly EPS of $3.93, beating estimates of $3.09, while revenue reached $2.76 billion, ahead of the $2.66 billion consensus estimate.
• Owens Corning maintained its dividend: The company declared a quarterly dividend of $0.79 per share, equal to $3.16 annually and a 2.8% yield.

Owens Corning Inc (NYSE:OC - Get Free Report) has received a consensus recommendation of "Hold" from the eighteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, five have given a hold recommendation, seven have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $141.57.

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Owens Corning from $136.00 to $165.00 and gave the company a "buy" rating in a report on Tuesday, June 30th. Citigroup lifted their price objective on shares of Owens Corning from $149.00 to $177.00 and gave the company a "buy" rating in a report on Friday, August 7th. Royal Bank Of Canada downgraded shares of Owens Corning from an "outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $172.00 to $127.00 in a research note on Wednesday, October 7th. The Goldman Sachs Group lowered their target price on Owens Corning from $169.00 to $128.00 and set a "neutral" rating for the company in a report on Monday, October 12th. Finally, DA Davidson set a $143.00 target price on Owens Corning in a research report on Friday, October 9th.

Owens Corning Stock Performance

Shares of Owens Corning stock opened at $114.27 on Friday. The firm has a market cap of $9.03 billion, a P/E ratio of -14.18, a P/E/G ratio of 2.64 and a beta of 1.32. The company has a current ratio of 1.16, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10. Owens Corning has a 12 month low of $97.53 and a 12 month high of $159.91. The stock's fifty day moving average price is $127.33 and its 200-day moving average price is $129.40.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The construction company reported $3.93 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the company posted $4.21 earnings per share. The firm's quarterly revenue was up .3% on a year-over-year basis. On average, equities research analysts expect that Owens Corning will post 9.59 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 5th. Investors of record on Monday, October 19th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, October 19th. This represents a $3.16 dividend on an annualized basis and a yield of 2.8%. Owens Corning's dividend payout ratio (DPR) is presently -39.21%.

Insiders Place Their Bets

In other Owens Corning news, insider Rachel Barthelemy Marcon sold 900 shares of Owens Corning stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $144.07, for a total value of $129,663.00. Following the transaction, the insider owned 21,449 shares in the company, valued at $3,090,157.43. The trade was a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is currently owned by insiders.

Institutional Trading of Owens Corning

A number of institutional investors have recently modified their holdings of the company. Apollon Wealth Management LLC lifted its position in Owens Corning by 20.4% during the third quarter. Apollon Wealth Management LLC now owns 2,326 shares of the construction company's stock valued at $272,000 after acquiring an additional 394 shares during the last quarter. Signaturefd LLC boosted its stake in Owens Corning by 15.9% in the third quarter. Signaturefd LLC now owns 1,070 shares of the construction company's stock valued at $125,000 after acquiring an additional 147 shares in the last quarter. Citizens Financial Group Inc. RI grew its holdings in Owens Corning by 55.6% in the third quarter. Citizens Financial Group Inc. RI now owns 5,271 shares of the construction company's stock worth $615,000 after purchasing an additional 1,884 shares during the last quarter. Sterling Capital Management LLC grew its holdings in Owens Corning by 284.4% in the third quarter. Sterling Capital Management LLC now owns 9,213 shares of the construction company's stock worth $1,076,000 after purchasing an additional 6,816 shares during the last quarter. Finally, MBL Wealth LLC grew its holdings in Owens Corning by 163.1% in the third quarter. MBL Wealth LLC now owns 4,209 shares of the construction company's stock worth $491,000 after purchasing an additional 2,609 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Company Profile

Owens Corning NYSE: OC is a global building materials company that develops and manufactures products used in residential, commercial and industrial construction. Its offerings are designed to improve energy efficiency, weather protection, durability and comfort in buildings.

The company's primary businesses include roofing, insulation and doors. Its products include asphalt roofing shingles and components, fiberglass and mineral wool insulation, and residential and commercial door systems.

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