Owens Corning Inc (NYSE:OC) Receives $144.82 Consensus Price Target from Brokerages

Owens Corning Inc (NYSE:OCGet Free Report) has been given an average rating of “Moderate Buy” by the fifteen ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $144.8182.

OC has been the topic of several analyst reports. Truist Financial raised their target price on Owens Corning from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. raised their target price on Owens Corning from $115.00 to $121.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Royal Bank Of Canada raised their target price on Owens Corning from $134.00 to $148.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. The Goldman Sachs Group raised their target price on Owens Corning from $125.00 to $141.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, Wells Fargo & Company raised their target price on Owens Corning from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th.

Read Our Latest Analysis on Owens Corning

Insider Activity at Owens Corning

In related news, insider Rachel Barthelemy Marcon sold 700 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $120.71, for a total value of $84,497.00. Following the sale, the insider directly owned 15,848 shares in the company, valued at $1,913,012.08. This trade represents a 4.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 stock in a transaction on Friday, May 8th. The shares were sold at an average price of $120.92, for a total value of $232,891.92. Following the transaction, the vice president directly owned 3,093 shares of the company’s stock, valued at approximately $374,005.56. The trade was a 38.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On Owens Corning

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in Owens Corning by 99.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 911,334 shares of the construction company’s stock valued at $128,917,000 after purchasing an additional 454,382 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Owens Corning by 6.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,930,632 shares of the construction company’s stock valued at $273,101,000 after purchasing an additional 110,452 shares in the last quarter. Boothbay Fund Management LLC boosted its stake in Owens Corning by 130.5% during the 3rd quarter. Boothbay Fund Management LLC now owns 81,295 shares of the construction company’s stock valued at $11,500,000 after purchasing an additional 46,022 shares in the last quarter. Banque Pictet & Cie SA boosted its stake in shares of Owens Corning by 5.0% during the 4th quarter. Banque Pictet & Cie SA now owns 412,579 shares of the construction company’s stock worth $46,172,000 after acquiring an additional 19,553 shares in the last quarter. Finally, Highland Peak Capital LLC acquired a new position in shares of Owens Corning in the 3rd quarter worth $31,959,000. 88.40% of the stock is owned by institutional investors.

Owens Corning Stock Down 0.1%

Shares of Owens Corning stock opened at $135.28 on Monday. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27. The business’s 50 day simple moving average is $122.08 and its 200-day simple moving average is $119.11. The stock has a market capitalization of $10.89 billion, a price-to-earnings ratio of -20.47, a PEG ratio of 2.46 and a beta of 1.34. Owens Corning has a twelve month low of $97.53 and a twelve month high of $159.42.

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

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Monday, July 20th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.3%. The ex-dividend date is Monday, July 20th. Owens Corning’s dividend payout ratio (DPR) is currently -47.81%.

Owens Corning Company Profile

(Get Free Report)

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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Analyst Recommendations for Owens Corning (NYSE:OC)

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