Owens Corning (NYSE:OC) Price Target Raised to $172.00 at Evercore ISI

Owens Corning (NYSE:OC) had its price objective lifted by Evercore ISI from $154.00 to $172.00 in a report released on Thursday morning, Benzinga reports. They currently have an in-line rating on the construction company’s stock.

Several other research analysts have also commented on the stock. Barclays lowered shares of Owens Corning from an overweight rating to an equal weight rating and decreased their price objective for the stock from $170.00 to $160.00 in a report on Monday, February 12th. UBS Group cut their price objective on shares of Owens Corning from $175.00 to $169.00 and set a buy rating on the stock in a research report on Thursday, February 15th. Royal Bank of Canada dropped their price target on shares of Owens Corning from $183.00 to $175.00 and set an outperform rating on the stock in a report on Thursday, February 15th. JPMorgan Chase & Co. dropped their price objective on shares of Owens Corning from $164.00 to $163.00 and set a neutral rating on the stock in a report on Tuesday, February 20th. Finally, Loop Capital raised their target price on shares of Owens Corning from $167.00 to $188.00 and gave the stock a buy rating in a research note on Monday, April 1st. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Owens Corning presently has an average rating of Moderate Buy and an average price target of $168.21.

Owens Corning Stock Performance

NYSE OC opened at $167.30 on Thursday. The company’s 50 day moving average is $158.86 and its 200-day moving average is $145.94. Owens Corning has a 12-month low of $99.49 and a 12-month high of $173.65. The company has a quick ratio of 1.17, a current ratio of 1.76 and a debt-to-equity ratio of 0.50. The firm has a market cap of $14.56 billion, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 6.98 and a beta of 1.47.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.55. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.28 billion. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. Owens Corning’s revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.77 EPS. Sell-side analysts predict that Owens Corning will post 13.92 earnings per share for the current year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Monday, March 4th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Friday, March 1st. Owens Corning’s payout ratio is 19.43%.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 7,442 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $148.99, for a total value of $1,108,783.58. Following the transaction, the insider now owns 36,140 shares in the company, valued at approximately $5,384,498.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Gunner Smith sold 7,442 shares of Owens Corning stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $148.99, for a total transaction of $1,108,783.58. Following the transaction, the insider now owns 36,140 shares in the company, valued at approximately $5,384,498.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Paula Russell sold 3,765 shares of Owens Corning stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value of $609,930.00. Following the transaction, the executive vice president now owns 20,419 shares in the company, valued at approximately $3,307,878. The disclosure for this sale can be found here. Insiders sold a total of 21,672 shares of company stock valued at $3,325,799 in the last three months. 0.89% of the stock is currently owned by company insiders.

Institutional Trading of Owens Corning

A number of hedge funds and other institutional investors have recently modified their holdings of OC. AE Wealth Management LLC acquired a new position in Owens Corning in the 3rd quarter valued at about $1,749,000. IFP Advisors Inc grew its position in shares of Owens Corning by 59.8% during the third quarter. IFP Advisors Inc now owns 390 shares of the construction company’s stock worth $53,000 after buying an additional 146 shares in the last quarter. Global Retirement Partners LLC grew its position in shares of Owens Corning by 17.2% during the third quarter. Global Retirement Partners LLC now owns 1,054 shares of the construction company’s stock worth $140,000 after buying an additional 155 shares in the last quarter. DAVENPORT & Co LLC grew its position in shares of Owens Corning by 12.4% during the third quarter. DAVENPORT & Co LLC now owns 3,688 shares of the construction company’s stock worth $503,000 after buying an additional 406 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of Owens Corning by 26.4% during the third quarter. UMB Bank n.a. now owns 469 shares of the construction company’s stock worth $64,000 after buying an additional 98 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Company Profile

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.