Owens Corning (NYSE:OC) Price Target Increased to $188.00 by Analysts at Loop Capital

Owens Corning (NYSE:OC - Free Report) had its target price upped by Loop Capital from $167.00 to $188.00 in a research report report published on Monday morning, Benzinga reports. They currently have a buy rating on the construction company's stock.

A number of other analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Owens Corning from a hold rating to a buy rating and upped their target price for the stock from $130.00 to $180.00 in a report on Friday, December 8th. JPMorgan Chase & Co. cut their price target on shares of Owens Corning from $164.00 to $163.00 and set a neutral rating for the company in a research note on Tuesday, February 20th. Evercore ISI downgraded shares of Owens Corning from an outperform rating to an in-line rating and dropped their price objective for the stock from $163.00 to $154.00 in a report on Thursday, February 15th. The Goldman Sachs Group raised their price target on Owens Corning from $130.00 to $147.00 and gave the company a neutral rating in a research report on Thursday, December 14th. Finally, Truist Financial increased their price objective on Owens Corning from $115.00 to $145.00 and gave the company a hold rating in a research report on Thursday, February 15th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Owens Corning currently has a consensus rating of Moderate Buy and a consensus price target of $159.64.

Owens Corning Stock Performance

Owens Corning stock traded up $1.99 during trading on Monday, hitting $168.79. The stock had a trading volume of 509,029 shares, compared to its average volume of 685,083. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.50. The stock's 50 day moving average is $153.54 and its two-hundred day moving average is $142.07. Owens Corning has a 1 year low of $91.51 and a 1 year high of $169.30. The stock has a market cap of $14.69 billion, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47.

Owens Corning (NYSE:OC - Get Free Report) last issued its earnings results on Wednesday, February 14th. The construction company reported $3.21 earnings per share for the quarter, topping analysts' consensus estimates of $2.82 by $0.39. Owens Corning had a net margin of 12.36% and a return on equity of 25.88%. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter last year, the business earned $2.49 earnings per share. The company's quarterly revenue was up .8% on a year-over-year basis. As a group, analysts predict that Owens Corning will post 14.08 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Monday, March 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, March 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.42%. Owens Corning's dividend payout ratio is presently 18.29%.

Insider Buying and Selling at Owens Corning

In related news, CEO Brian Chambers sold 9,100 shares of the company's stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $153.57, for a total value of $1,397,487.00. Following the sale, the chief executive officer now owns 269,696 shares in the company, valued at approximately $41,417,214.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Brian Chambers sold 9,100 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the sale, the chief executive officer now directly owns 269,696 shares of the company's stock, valued at approximately $41,417,214.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gunner Smith sold 7,442 shares of the business's stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $148.99, for a total transaction of $1,108,783.58. Following the completion of the transaction, the insider now owns 36,140 shares of the company's stock, valued at $5,384,498.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,672 shares of company stock valued at $3,325,799. 0.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Owens Corning

Large investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Owens Corning by 0.8% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,130 shares of the construction company's stock valued at $1,205,000 after purchasing an additional 67 shares during the last quarter. Avantax Advisory Services Inc. grew its position in shares of Owens Corning by 2.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,082 shares of the construction company's stock valued at $457,000 after acquiring an additional 69 shares during the period. Steward Partners Investment Advisory LLC increased its stake in shares of Owens Corning by 7.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,011 shares of the construction company's stock worth $150,000 after purchasing an additional 69 shares in the last quarter. Bessemer Group Inc. raised its holdings in Owens Corning by 24.6% in the 2nd quarter. Bessemer Group Inc. now owns 380 shares of the construction company's stock worth $50,000 after purchasing an additional 75 shares during the period. Finally, Blue Trust Inc. lifted its position in Owens Corning by 42.2% during the fourth quarter. Blue Trust Inc. now owns 263 shares of the construction company's stock valued at $36,000 after purchasing an additional 78 shares in the last quarter. Institutional investors own 88.40% of the company's stock.

Owens Corning Company Profile

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.