Owens Corning (NYSE:OC) Price Target Raised to $217.00

by · The Markets Daily

Owens Corning (NYSE:OC – Free Report) had its price objective upped by Royal Bank of Canada from $213.00 to $217.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the construction company’s stock.

Other equities analysts also recently issued reports about the company. Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and raised their price target for the company from $178.00 to $191.00 in a report on Thursday, July 11th. StockNews.com cut shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Friday, November 1st. UBS Group boosted their target price on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company raised their price target on Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and an average price target of $192.62.

Read Our Latest Stock Analysis on Owens Corning

Owens Corning Trading Up 1.6 %

NYSE:OC traded up $3.02 during trading hours on Thursday, reaching $190.44. The company’s stock had a trading volume of 796,320 shares, compared to its average volume of 697,772. The firm has a 50-day simple moving average of $175.83 and a 200-day simple moving average of $173.68. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.79 and a current ratio of 1.44. Owens Corning has a 1 year low of $121.08 and a 1 year high of $193.93. The firm has a market capitalization of $16.56 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 2.27 and a beta of 1.41.

Owens Corning (NYSE:OC – Get Free Report) last issued its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping the consensus estimate of $4.05 by $0.33. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the previous year, the firm earned $4.15 earnings per share. Research analysts expect that Owens Corning will post 15.34 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.26%. The ex-dividend date was Friday, October 18th. Owens Corning’s payout ratio is 20.43%.

Insider Activity

In other news, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the sale, the insider now owns 60,130 shares of the company’s stock, valued at $10,222,100. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the transaction, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Institutional Trading of Owens Corning

Institutional investors and hedge funds have recently modified their holdings of the stock. Central Pacific Bank Trust Division acquired a new stake in shares of Owens Corning during the 1st quarter worth about $105,000. ORG Partners LLC acquired a new stake in shares of Owens Corning during the first quarter worth about $31,000. Envestnet Portfolio Solutions Inc. grew its position in Owens Corning by 14.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,002 shares of the construction company’s stock valued at $668,000 after buying an additional 519 shares during the last quarter. BOS Asset Management LLC acquired a new stake in Owens Corning in the first quarter valued at about $247,000. Finally, Atomi Financial Group Inc. purchased a new stake in Owens Corning during the first quarter worth about $729,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Company Profile

(Get Free Report)

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.

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