Analysts Set Owens Corning (NYSE:OC) Target Price at $201.75

Shares of Owens Corning (NYSE:OC) have earned a consensus rating of “Moderate Buy” from the thirteen analysts that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $201.75.

Several analysts have issued reports on the company. Wells Fargo & Company raised Owens Corning from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $195.00 to $225.00 in a research note on Tuesday, December 17th. Citigroup reduced their target price on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. UBS Group boosted their price target on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group raised their price objective on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Loop Capital dropped their target price on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th.

Owens Corning Stock Up 2.7 %

Shares of NYSE OC opened at $179.36 on Monday. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The business has a 50-day moving average of $186.51 and a 200-day moving average of $177.16. The firm has a market capitalization of $15.39 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 2.14 and a beta of 1.46. Owens Corning has a 12 month low of $138.70 and a 12 month high of $214.53.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the previous year, the firm posted $4.15 EPS. The firm’s revenue was up 22.9% compared to the same quarter last year. Sell-side analysts expect that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Monday, January 6th will be paid a dividend of $0.69 per share. This is a positive change from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, January 6th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.54%. Owens Corning’s payout ratio is presently 23.49%.

Insider Activity at Owens Corning

In related news, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the sale, the insider now directly owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.89% of the stock is owned by corporate insiders.

Institutional Trading of Owens Corning

A number of hedge funds have recently modified their holdings of the business. Retirement Guys Formula LLC lifted its position in Owens Corning by 3.1% during the 3rd quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock valued at $342,000 after acquiring an additional 58 shares during the period. PFG Investments LLC lifted its holdings in shares of Owens Corning by 3.9% during the third quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock valued at $323,000 after purchasing an additional 68 shares during the last quarter. Tobam increased its position in Owens Corning by 38.0% during the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after buying an additional 73 shares in the last quarter. First Bank & Trust raised its stake in Owens Corning by 2.0% during the third quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock valued at $646,000 after buying an additional 73 shares during the last quarter. Finally, KMG Fiduciary Partners LLC boosted its holdings in Owens Corning by 1.5% in the third quarter. KMG Fiduciary Partners LLC now owns 5,432 shares of the construction company’s stock worth $959,000 after acquiring an additional 80 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

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.