Analysts Set Owens Corning Inc (NYSE:OC) Price Target at $185.10

Key Points

• Owens Corning Inc has received an average recommendation of "Moderate Buy" from twelve analysts, with eight recommending a buy and four a hold.
• The company's latest earnings report showed an EPS of $4.21, exceeding expectations, and a 10.0% year-over-year revenue increase to $2.75 billion.
• Owens Corning recently announced a quarterly dividend of $0.69 per share, with a payout ratio of 71.69%, to be paid on November 6th.

Owens Corning Inc (NYSE:OC - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the twelve brokerages that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $185.10.

OC has been the subject of several analyst reports. Royal Bank Of Canada cut their price objective on shares of Owens Corning from $184.00 to $180.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. Barclays upped their price target on shares of Owens Corning from $167.00 to $173.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Evercore ISI raised their price target on shares of Owens Corning from $165.00 to $169.00 and gave the company an "in-line" rating in a report on Friday, August 8th. UBS Group lowered their target price on shares of Owens Corning from $218.00 to $210.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Finally, Wells Fargo & Company upped their price target on Owens Corning from $170.00 to $175.00 and gave the company an "overweight" rating in a report on Thursday, September 11th.

Owens Corning Stock Up 0.6%

NYSE OC traded up $0.80 on Friday, hitting $144.30. 114,484 shares of the stock traded hands, compared to its average volume of 931,919. The stock has a 50-day moving average of $147.55 and a 200 day moving average of $142.52. The company has a current ratio of 1.52, a quick ratio of 0.95 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $12.07 billion, a P/E ratio of 37.47, a price-to-earnings-growth ratio of 10.31 and a beta of 1.32. Owens Corning has a twelve month low of $123.40 and a twelve month high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The construction company reported $4.21 EPS for the quarter, topping analysts' consensus estimates of $3.80 by $0.41. Owens Corning had a return on equity of 24.49% and a net margin of 2.98%.The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same period in the previous year, the company posted $4.64 earnings per share. The firm's revenue for the quarter was up 10.0% on a year-over-year basis. As a group, analysts expect that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Monday, October 20th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.9%. Owens Corning's payout ratio is 71.69%.

Institutional Trading of Owens Corning

Several hedge funds have recently added to or reduced their stakes in the business. Ossiam lifted its stake in Owens Corning by 5.9% during the second quarter. Ossiam now owns 1,254 shares of the construction company's stock worth $172,000 after purchasing an additional 70 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its holdings in Owens Corning by 0.6% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 13,043 shares of the construction company's stock valued at $1,863,000 after purchasing an additional 74 shares during the period. Menard Financial Group LLC lifted its holdings in shares of Owens Corning by 3.6% during the 4th quarter. Menard Financial Group LLC now owns 2,272 shares of the construction company's stock worth $387,000 after acquiring an additional 80 shares during the last quarter. Pitcairn Co. increased its position in shares of Owens Corning by 4.6% in the second quarter. Pitcairn Co. now owns 1,821 shares of the construction company's stock valued at $250,000 after acquiring an additional 80 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Owens Corning by 13.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 733 shares of the construction company's stock worth $125,000 after purchasing an additional 85 shares during the period. Institutional investors and hedge funds own 88.40% of the company's stock.

About Owens Corning

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.