Owens Corning Inc (NYSE:OC) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Owens Corning has a consensus analyst rating of “Moderate Buy”, with 17 analysts covering the stock and an average 12-month price target of $157.50.
• Recent analyst updates were mixed but generally constructive: Goldman Sachs and Barclays both raised their price targets, while ratings ranged from sell to strong buy across the coverage list.
• The company reported better-than-expected quarterly EPS and revenue, and it also announced a quarterly dividend of $0.79 per share, equal to a 2.2% annualized yield.

Shares of Owens Corning Inc (NYSE:OC - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the seventeen analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $157.50.

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group lifted their price objective on Owens Corning from $141.00 to $159.00 and gave the stock a "neutral" rating in a research report on Friday, July 10th. Barclays raised their price target on Owens Corning from $144.00 to $170.00 and gave the stock an "overweight" rating in a research note on Tuesday. Benchmark reiterated a "hold" rating on shares of Owens Corning in a report on Wednesday. Zacks Research raised shares of Owens Corning from a "strong sell" rating to a "hold" rating in a research report on Monday, April 27th. Finally, Truist Financial upped their price objective on shares of Owens Corning from $120.00 to $125.00 and gave the stock a "hold" rating in a report on Thursday, May 7th.

Insider Transactions at Owens Corning

In related news, VP Mari Doerfler sold 1,926 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $120.92, for a total value of $232,891.92. Following the completion of the transaction, the vice president directly owned 3,093 shares of the company's stock, valued at $374,005.56. This represents a 38.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Rachel Barthelemy Marcon sold 700 shares of Owens Corning stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total value of $84,497.00. Following the sale, the insider directly owned 15,848 shares in the company, valued at approximately $1,913,012.08. The trade was a 4.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new stake in Owens Corning in the fourth quarter worth $29,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Owens Corning during the 1st quarter valued at $30,000. Harbour Investments Inc. grew its position in shares of Owens Corning by 66.5% in the 4th quarter. Harbour Investments Inc. now owns 323 shares of the construction company's stock worth $36,000 after buying an additional 129 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Owens Corning in the 4th quarter worth about $37,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Owens Corning in the 3rd quarter worth about $42,000. Hedge funds and other institutional investors own 88.40% of the company's stock.

Owens Corning Stock Performance

Shares of NYSE:OC opened at $144.19 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27. The company has a 50-day moving average price of $128.63 and a 200-day moving average price of $122.27. The company has a market cap of $11.61 billion, a price-to-earnings ratio of -21.81, a price-to-earnings-growth ratio of 2.79 and a beta of 1.30. Owens Corning has a 12 month low of $97.53 and a 12 month high of $159.91.

Owens Corning (NYSE:OC - Get Free Report) last posted its earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.21. The company had revenue of $2.27 billion for the quarter, compared to analysts' expectations of $2.18 billion. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.Owens Corning's quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the firm earned $2.97 earnings per share. As a group, equities analysts anticipate that Owens Corning will post 9.55 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Monday, July 20th will be given a dividend of $0.79 per share. The ex-dividend date is Monday, July 20th. This represents a $3.16 annualized dividend and a dividend yield of 2.2%. Owens Corning's payout ratio is currently -47.81%.

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.

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