Owens Corning Inc (NYSE:OC) Stock Has Consensus Target Price of $164.15 According to Analysts

Key Points

• Analysts have a “Moderate Buy” consensus on Owens Corning, with 9 buy, 3 strong-buy, 5 hold, and 1 sell rating among 18 firms. The average 12-month price target is $164.15, with recent targets ranging from $159 to $198.
• Owens Corning reported quarterly EPS of $3.93, beating the $3.09 consensus estimate, while revenue reached $2.76 billion versus expectations of $2.66 billion. Shares opened at $118.38, below the 52-week high of $159.91.
• The company declared a quarterly dividend of $0.79 per share, or $3.16 annually, representing a 2.7% yield. Institutional investors own approximately 88.4% of Owens Corning’s outstanding stock.

Shares of Owens Corning Inc (NYSE:OC - Get Free Report) have received an average recommendation of "Moderate Buy" from the eighteen research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, nine have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $164.15.

Several brokerages recently weighed in on OC. Truist Financial set a $198.00 price objective on shares of Owens Corning in a report on Thursday, August 6th. The Goldman Sachs Group upped their target price on shares of Owens Corning from $141.00 to $159.00 and gave the company a "neutral" rating in a research report on Friday, July 10th. Barclays raised their price target on Owens Corning from $170.00 to $177.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Citigroup upped their price objective on Owens Corning from $149.00 to $177.00 and gave the company a "buy" rating in a report on Friday, August 7th. Finally, Evercore reissued an "outperform" rating and issued a $193.00 target price on shares of Owens Corning in a research note on Thursday, July 23rd.

Owens Corning Price Performance

Shares of OC stock opened at $118.38 on Wednesday. Owens Corning has a 1 year low of $97.53 and a 1 year high of $159.91. The company has a current ratio of 1.16, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10. The firm's 50 day moving average is $139.08 and its 200-day moving average is $128.47. The firm has a market capitalization of $9.36 billion, a price-to-earnings ratio of -14.69, a PEG ratio of 1.83 and a beta of 1.32.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The construction company reported $3.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.84. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.66 billion. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%.The business's revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.21 EPS. Sell-side analysts forecast that Owens Corning will post 9.94 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Monday, October 19th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, October 19th. Owens Corning's dividend payout ratio (DPR) is currently -39.21%.

Insider Activity at Owens Corning

In other Owens Corning news, insider Rachel Barthelemy Marcon sold 900 shares of the 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 completion of the sale, the insider directly owned 21,449 shares in the company, valued at $3,090,157.43. This represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. First Pacific Financial boosted its holdings in Owens Corning by 2.3% during the first quarter. First Pacific Financial now owns 3,749 shares of the construction company's stock worth $406,000 after purchasing an additional 85 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its stake in Owens Corning by 2.9% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,170 shares of the construction company's stock valued at $343,000 after buying an additional 90 shares during the last quarter. Basecamp Wealth Advisors LLC lifted its position in Owens Corning by 3.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 3,317 shares of the construction company's stock worth $359,000 after buying an additional 97 shares in the last quarter. Groupama Asset Managment boosted its stake in shares of Owens Corning by 1.8% during the 4th quarter. Groupama Asset Managment now owns 6,153 shares of the construction company's stock worth $689,000 after buying an additional 106 shares during the last quarter. Finally, HM Payson & Co. boosted its stake in shares of Owens Corning by 203.6% during the 2nd quarter. HM Payson & Co. now owns 167 shares of the construction company's stock worth $27,000 after buying an additional 112 shares during the last quarter. Institutional investors own 88.40% of the company's stock.

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 portfolio includes insulation, roofing and composite materials designed to improve energy efficiency, weather protection, durability and structural performance.

The company's insulation business offers products such as fiberglass and mineral wool insulation, along with related air-sealing and acoustic solutions. Its roofing operations produce shingles, underlayment and other components for residential and commercial roofing systems.

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