Brokerages Set Owens Corning (NYSE:OC) Price Target at $184.23

Owens Corning (NYSE:OC) has received a consensus recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $186.69.

A number of equities analysts recently weighed in on the stock. Loop Capital increased their price objective on shares of Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. UBS Group boosted their price target on shares of Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Barclays reduced their target price on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $187.00 price objective on shares of Owens Corning in a research report on Monday, June 17th.

Owens Corning Stock Up 5.5 %

Shares of NYSE OC opened at $181.42 on Friday. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91. The company has a 50-day moving average of $167.03 and a 200 day moving average of $170.83. Owens Corning has a 12-month low of $109.95 and a 12-month high of $191.13. The stock has a market cap of $15.72 billion, a PE ratio of 14.69, a P/E/G ratio of 3.47 and a beta of 1.41.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, beating analysts’ consensus estimates of $4.37 by $0.27. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the prior year, the firm posted $4.22 earnings per share. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, sell-side analysts predict that Owens Corning will post 15.38 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 18th will be issued a $0.60 dividend. The ex-dividend date is Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.32%. Owens Corning’s payout ratio is 19.43%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Owens Corning

Hedge funds and other institutional investors have recently bought and sold shares of the company. MV Capital Management Inc. increased its position in Owens Corning by 112.9% during the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after buying an additional 79 shares in the last quarter. ST Germain D J Co. Inc. grew its holdings in shares of Owens Corning by 794.1% during the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after buying an additional 135 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of Owens Corning in the first quarter valued at approximately $26,000. Riverview Trust Co acquired a new stake in Owens Corning during the first quarter worth approximately $28,000. Finally, ORG Partners LLC purchased a new stake in Owens Corning in the 1st quarter worth approximately $31,000. 88.40% of the stock is owned by institutional investors and hedge funds.

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.