Owens Corning Inc (NYSE:OC) Receives $178.31 Consensus Target Price from Analysts

Owens Corning Inc (NYSE:OC) has received an average rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $178.3077.

OC has been the topic of several recent research reports. Barclays boosted their price target on Owens Corning from $167.00 to $173.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Truist Financial reduced their price target on Owens Corning from $165.00 to $135.00 and set a “hold” rating on the stock in a research report on Thursday, October 9th. UBS Group reduced their price target on Owens Corning from $218.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Zacks Research lowered Owens Corning from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Finally, Jefferies Financial Group cut their target price on Owens Corning from $185.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th.

Hedge Funds Weigh In On Owens Corning

Institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Owens Corning in the 2nd quarter valued at approximately $163,719,000. Vanguard Group Inc. increased its holdings in shares of Owens Corning by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 9,815,685 shares of the construction company’s stock valued at $1,401,876,000 after acquiring an additional 1,053,855 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Owens Corning by 67.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,380,123 shares of the construction company’s stock valued at $339,930,000 after acquiring an additional 957,295 shares during the last quarter. Nuveen LLC bought a new stake in shares of Owens Corning in the 1st quarter valued at approximately $91,698,000. Finally, First Trust Advisors LP increased its holdings in shares of Owens Corning by 164.6% in the 2nd quarter. First Trust Advisors LP now owns 920,726 shares of the construction company’s stock valued at $126,618,000 after acquiring an additional 572,770 shares during the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Stock Performance

Owens Corning stock opened at $127.09 on Wednesday. The stock’s 50 day moving average price is $144.84 and its 200 day moving average price is $141.30. The firm has a market capitalization of $10.63 billion, a PE ratio of 33.01, a price-to-earnings-growth ratio of 9.22 and a beta of 1.32. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.95 and a current ratio of 1.52. Owens Corning has a one year low of $123.23 and a one year high of $214.53.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, August 6th. The construction company reported $4.21 EPS for the quarter, topping the consensus estimate of $3.80 by $0.41. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates 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 for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the company posted $4.64 EPS. As a group, sell-side analysts expect that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

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

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.