Analysts Set Owens Corning (NYSE:OC) Price Target at $194.58

Owens Corning (NYSE:OC - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twelve ratings firms that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $195.73.

Several analysts recently issued reports on OC shares. UBS Group reduced their price target on Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Royal Bank of Canada decreased their price target on shares of Owens Corning from $212.00 to $199.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Deutsche Bank Aktiengesellschaft began coverage on shares of Owens Corning in a research note on Tuesday, April 1st. They issued a "buy" rating and a $183.00 price objective for the company. StockNews.com lowered shares of Owens Corning from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, Barclays dropped their price target on shares of Owens Corning from $215.00 to $179.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th.

Owens Corning Stock Performance

OC traded down $0.88 during trading hours on Wednesday, reaching $143.20. The company's stock had a trading volume of 93,137 shares, compared to its average volume of 805,995. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The company's 50-day moving average is $144.56 and its 200-day moving average is $170.86. Owens Corning has a 52 week low of $123.41 and a 52 week high of $214.53. The firm has a market cap of $12.25 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39.

Owens Corning (NYSE:OC - Get Free Report) last announced its earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping the consensus estimate of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the firm posted $3.21 EPS. Owens Corning's revenue was up 23.3% compared to the same quarter last year. On average, equities analysts forecast that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 10th were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Monday, March 10th. Owens Corning's dividend payout ratio is presently 37.70%.

Insider Transactions at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the firm's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now owns 11,635 shares of the company's stock, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.82% of the company's stock.

Hedge Funds Weigh In On Owens Corning

Several large investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in Owens Corning in the fourth quarter valued at $208,519,000. JPMorgan Chase & Co. boosted its position in shares of Owens Corning by 113.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company's stock valued at $140,818,000 after purchasing an additional 424,786 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Owens Corning by 41.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,422,828 shares of the construction company's stock worth $242,337,000 after purchasing an additional 414,770 shares during the period. Raiffeisen Bank International AG bought a new stake in Owens Corning in the fourth quarter worth approximately $51,400,000. Finally, Raymond James Financial Inc. acquired a new position in Owens Corning in the fourth quarter valued at approximately $51,220,000. 88.40% of the stock is currently owned by 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.