Owens Corning - OC Stock Forecast, Price & News

Owens Corning manufactures and markets insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products. Its products are used in building structures, roofing shingles, tubs and showers, pools, flooring, pipes and tanks, poles, electrical equipment, and wind-energy turbine blades applications in the building and construction, renewable energy, and infrastructure markets. This segment sells its products directly to parts molders, fabricators, and shingle manufacturers. The Insulation segment manufactures and sells insulation products for residential, commercial, industrial, and other markets for thermal and acoustical applications; and glass fiber pipe insulation, flexible duct media, bonded and granulated mineral fiber insulation, cellular glass insulation, and foam insulation products used in construction applications. This segment sells its products primarily to the insulation installers, home centers, lumberyards, retailers, and distributors under the Thermafiber, FOAMULAR, FOAMGLAS, Paroc, Owens Corning PINK, and FIBERGLAS Insulation brand names. The Roofing segment manufactures and sells aminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications, as well as synthetic packaging materials. This segment sells its products through distributors, home centers, lumberyards, retailers, and contractors, as well as to roofing contractors for built-up roofing asphalt systems; and manufacturers in automotive, chemical, rubber, and construction industries. Owens Corning was incorporated in 1938 and is headquartered in Toledo, Ohio.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OC. Barclays cut their target price on shares of Owens Corning from $100.00 to $91.00 and set an "equal weight" rating for the company in a research report on Thursday, July 14th. UBS Group reduced their price objective on Owens Corning from $137.00 to $128.00 and set a "buy" rating for the company in a research note on Thursday, July 28th. Bank of America downgraded Owens Corning from a "buy" rating to an "underperform" rating and lowered their target price for the company from $119.00 to $80.00 in a research report on Friday, June 17th. The Goldman Sachs Group reduced their price target on Owens Corning from $90.00 to $77.00 and set a "sell" rating for the company in a research report on Thursday, June 23rd. Finally, Wells Fargo & Company lifted their price objective on Owens Corning from $83.00 to $89.00 and gave the company an "equal weight" rating in a research report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $102.92.

Owens Corning Stock Up 1.1 %

NYSE:OC opened at $91.19 on Friday. Owens Corning has a 12 month low of $72.97 and a 12 month high of $101.12. The company has a current ratio of 1.87, a quick ratio of 1.23 and a debt-to-equity ratio of 0.66. The stock has a market cap of $8.78 billion, a PE ratio of 8.11, a P/E/G ratio of 0.77 and a beta of 1.51. The stock's 50 day moving average is $83.21 and its 200 day moving average is $88.59.

Owens Corning (NYSE:OC - Get Rating) last released its earnings results on Wednesday, July 27th. The construction company reported $3.83 EPS for the quarter, topping the consensus estimate of $3.31 by $0.52. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.58 billion. Owens Corning had a net margin of 12.20% and a return on equity of 26.22%. The company's quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.60 earnings per share. Research analysts predict that Owens Corning will post 12.41 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 4th. Stockholders of record on Monday, July 18th were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, July 15th. This represents a $1.40 annualized dividend and a dividend yield of 1.54%. Owens Corning's dividend payout ratio (DPR) is 12.44%.

Insider Buying and Selling

In other Owens Corning news, VP Kelly Schmidt sold 1,940 shares of the firm's stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $91.93, for a total transaction of $178,344.20. Following the completion of the transaction, the vice president now owns 15,083 shares in the company, valued at approximately $1,386,580.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.44% of the stock is owned by company insiders.