Owens Corning Inc (NYSE:OC) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Owens Corning has a consensus analyst rating of “Moderate Buy” from 15 analysts, with an average 12-month price target of about $144.82.
• Recent analyst actions were mixed but generally constructive: UBS raised its target to $172 and kept a buy rating, while JPMorgan and Truist lifted targets but stayed more cautious with neutral/hold views.
• The company also reported strong quarterly results, beating EPS and revenue estimates, and announced a quarterly dividend of $0.79 per share payable on August 6.

Shares of Owens Corning Inc (NYSE:OC - Get Free Report) have earned a consensus rating of "Moderate Buy" from the fifteen analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $144.8182.

A number of equities analysts recently commented on the stock. UBS Group lifted their price target on shares of Owens Corning from $160.00 to $172.00 and gave the stock a "buy" rating in a research note on Thursday, February 26th. JPMorgan Chase & Co. lifted their price target on shares of Owens Corning from $115.00 to $121.00 and gave the stock a "neutral" rating in a research note on Friday, May 8th. Truist Financial lifted their price target on shares of Owens Corning from $120.00 to $125.00 and gave the stock a "hold" rating in a research note on Thursday, May 7th. Bank of America dropped their price objective on Owens Corning from $140.00 to $138.00 and set a "buy" rating for the company in a report on Monday, April 20th. Finally, Zacks Research upgraded Owens Corning from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th.

Insider Activity

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

Institutional Investors Weigh In On Owens Corning

Several large investors have recently added to or reduced their stakes in OC. Geneos Wealth Management Inc. lifted its holdings in shares of Owens Corning by 61.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company's stock worth $69,000 after buying an additional 184 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Owens Corning in the 2nd quarter worth $277,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Owens Corning by 1,433.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,273 shares of the construction company's stock worth $175,000 after buying an additional 1,190 shares during the period. Cerity Partners LLC lifted its holdings in shares of Owens Corning by 294.3% in the 2nd quarter. Cerity Partners LLC now owns 17,372 shares of the construction company's stock worth $2,389,000 after buying an additional 12,966 shares during the period. Finally, Bank of Nova Scotia lifted its holdings in shares of Owens Corning by 12.2% in the 2nd quarter. Bank of Nova Scotia now owns 3,059 shares of the construction company's stock worth $421,000 after buying an additional 333 shares during the period. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Price Performance

Shares of Owens Corning stock opened at $128.12 on Monday. The stock has a market cap of $10.32 billion, a price-to-earnings ratio of -19.38, a price-to-earnings-growth ratio of 2.32 and a beta of 1.34. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.24. The stock has a 50 day moving average price of $120.67 and a 200-day moving average price of $118.47. Owens Corning has a one year low of $97.53 and a one year high of $159.42.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.21. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. The firm had revenue of $2.27 billion during the quarter, compared to analysts' expectations of $2.18 billion. During the same period in the previous year, the company earned $2.97 EPS. The firm's revenue for the quarter was down 10.5% compared to the same quarter last year. Equities analysts expect that Owens Corning will post 9.53 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Monday, July 20th will be issued a dividend of $0.79 per share. The ex-dividend date is Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a yield of 2.5%. Owens Corning's payout ratio is presently -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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