Owens Corning (NYSE:OC) Given Average Recommendation of “Moderate Buy” by Brokerages

Owens Corning (NYSE:OC) has been given a consensus rating of “Moderate Buy” by the thirteen brokerages that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $201.75.

A number of equities research analysts have recently weighed in on OC shares. Evercore ISI lifted their target price on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. UBS Group lifted their target price on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Citigroup dropped their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th. The Goldman Sachs Group lifted their target price on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th.

Owens Corning Trading Up 0.8 %

Shares of Owens Corning stock opened at $183.66 on Friday. The business has a fifty day simple moving average of $182.54 and a two-hundred day simple moving average of $178.73. Owens Corning has a 1 year low of $138.70 and a 1 year high of $214.53. The company has a market capitalization of $15.75 billion, a price-to-earnings ratio of 15.63, a P/E/G ratio of 2.02 and a beta of 1.46. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter last year, the firm posted $4.15 EPS. The company’s quarterly revenue was up 22.9% on a year-over-year basis. Research analysts forecast that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.50%. Owens Corning’s payout ratio is 23.49%.

Insiders Place Their Bets

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the transaction, the insider now owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OC. FPC Investment Advisory Inc. acquired a new position in Owens Corning during the fourth quarter worth about $28,000. Venturi Wealth Management LLC grew its holdings in shares of Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after purchasing an additional 63 shares during the last quarter. Global Trust Asset Management LLC bought a new stake in shares of Owens Corning during the fourth quarter worth about $31,000. Wilmington Savings Fund Society FSB grew its holdings in shares of Owens Corning by 193.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after purchasing an additional 122 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in shares of Owens Corning during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

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.