Owens Corning Inc (NYSE:OC) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Owens Corning Inc has received an average rating of "Moderate Buy" from 16 analysts, with six holding recommendations and ten providing buy ratings.
• Recent price targets for the stock vary, with Wells Fargo increasing their target to $175 while Evercore ISI lowered theirs to $153.
• The company announced a quarterly dividend of $0.69 per share, showing a dividend yield of 2.2%, with the ex-dividend date set for October 20th.

Shares of Owens Corning Inc (NYSE:OC - Get Free Report) have received an average rating of "Moderate Buy" from the sixteen analysts that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $178.3077.

A number of equities research analysts have recently commented on the company. Wells Fargo & Company lifted their price objective on Owens Corning from $170.00 to $175.00 and gave the company an "overweight" rating in a research report on Thursday, September 11th. Evercore ISI dropped their price target on shares of Owens Corning from $169.00 to $153.00 and set an "in-line" rating for the company in a research report on Tuesday, October 7th. Barclays upped their price target on shares of Owens Corning from $167.00 to $173.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Jefferies Financial Group lowered their price objective on shares of Owens Corning from $185.00 to $180.00 and set a "buy" rating for the company in a research note on Tuesday, October 7th. Finally, UBS Group reduced their target price on Owens Corning from $218.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, August 7th.

Owens Corning Stock Performance

Shares of OC opened at $128.15 on Wednesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.95 and a current ratio of 1.52. The company has a market capitalization of $10.72 billion, a price-to-earnings ratio of 33.29, a PEG ratio of 9.11 and a beta of 1.32. The company's 50 day simple moving average is $146.00 and its 200 day simple moving average is $141.64. Owens Corning has a 1 year low of $123.23 and a 1 year high of $214.53.

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

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Monday, October 20th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, October 20th. Owens Corning's dividend payout ratio is 71.69%.

Institutional Investors Weigh In On Owens Corning

Institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its holdings in shares of Owens Corning by 29.6% during the 1st quarter. Farther Finance Advisors LLC now owns 2,819 shares of the construction company's stock valued at $406,000 after acquiring an additional 644 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Owens Corning by 21.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,720 shares of the construction company's stock valued at $1,245,000 after buying an additional 1,558 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Owens Corning in the first quarter valued at about $211,000. QRG Capital Management Inc. grew its stake in shares of Owens Corning by 1.8% in the first quarter. QRG Capital Management Inc. now owns 20,325 shares of the construction company's stock valued at $2,903,000 after buying an additional 361 shares in the last quarter. Finally, Financial Partners Group LLC grew its stake in shares of Owens Corning by 18.0% in the first quarter. Financial Partners Group LLC now owns 9,735 shares of the construction company's stock valued at $1,390,000 after buying an additional 1,482 shares in the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.