Owens Corning Inc (NYSE:OC) Receives $155.58 Average Price Target from Analysts

Owens Corning Inc (NYSE:OC) has earned an average rating of “Hold” from the seventeen ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $155.5833.

OC has been the subject of several research analyst reports. Truist Financial reduced their target price on Owens Corning from $165.00 to $135.00 and set a “hold” rating for the company in a research note on Thursday, October 9th. UBS Group cut their price target on shares of Owens Corning from $210.00 to $179.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Evercore ISI reduced their price objective on shares of Owens Corning from $121.00 to $117.00 and set an “in-line” rating for the company in a research report on Thursday, December 4th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Owens Corning in a research report on Monday, December 29th. Finally, Royal Bank Of Canada reduced their price target on shares of Owens Corning from $174.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th.

Owens Corning Trading Up 1.9%

OC stock opened at $114.01 on Monday. Owens Corning has a 52-week low of $97.53 and a 52-week high of $192.96. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.05. The firm has a market cap of $9.37 billion, a P/E ratio of -19.93, a PEG ratio of 10.89 and a beta of 1.35. The company’s 50-day simple moving average is $112.09 and its 200-day simple moving average is $131.92.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, November 5th. The construction company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.03. The company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Owens Corning had a positive return on equity of 24.42% and a negative net margin of 4.46%.Owens Corning’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.38 EPS. As a group, equities analysts forecast that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Monday, January 5th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.8%. This is a boost from Owens Corning’s previous quarterly dividend of $0.69. The ex-dividend date is Monday, January 5th. Owens Corning’s dividend payout ratio (DPR) is -48.25%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Davis Selected Advisers boosted its stake in Owens Corning by 0.5% during the 3rd quarter. Davis Selected Advisers now owns 1,777,367 shares of the construction company’s stock worth $251,426,000 after purchasing an additional 8,274 shares during the last quarter. Mirabella Financial Services LLP purchased a new position in shares of Owens Corning in the third quarter worth about $5,889,000. Severin Investments LLC acquired a new position in Owens Corning during the third quarter worth about $204,000. Allworth Financial LP grew its stake in Owens Corning by 65.9% during the 3rd quarter. Allworth Financial LP now owns 934 shares of the construction company’s stock valued at $132,000 after acquiring an additional 371 shares in the last quarter. Finally, Swiss Life Asset Management Ltd raised its holdings in Owens Corning by 3.1% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 47,751 shares of the construction company’s stock valued at $6,755,000 after acquiring an additional 1,425 shares during the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Company Profile

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.