Owens Corning (NYSE:OC) Receives $201.75 Consensus Price Target from Brokerages

Owens Corning (NYSE:OC) has earned an average rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, MarketBeat.com reports. Five 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 analysts that have issued ratings on the stock in the last year is $201.75.

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group lifted their price objective on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $192.00 to $245.00 in a report on Wednesday, December 11th. Royal Bank of Canada lifted their price objective on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Finally, Citigroup decreased their price objective on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th.

Owens Corning Trading Up 2.0 %

Shares of Owens Corning stock opened at $182.86 on Monday. Owens Corning has a 1 year low of $138.70 and a 1 year high of $214.53. The firm has a market cap of $15.69 billion, a PE ratio of 15.56, a P/E/G ratio of 1.84 and a beta of 1.46. The stock has a fifty day moving average price of $186.08 and a 200-day moving average price of $177.30. 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 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 firm had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same period last year, the firm posted $4.15 EPS. The business’s revenue was up 22.9% compared to the same quarter last year. Equities research analysts anticipate that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Monday, January 6th were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Monday, January 6th. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. Owens Corning’s dividend payout ratio (DPR) is 23.49%.

Insider Activity

In other news, insider Gunner Smith sold 17,450 shares of Owens Corning 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 sale, the insider now owns 18,866 shares in the company, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.89% of the company’s stock.

Institutional Trading of Owens Corning

A number of hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new position in Owens Corning in the 2nd quarter worth approximately $167,000. Choreo LLC purchased a new position in Owens Corning in the 2nd quarter worth approximately $384,000. American Century Companies Inc. increased its stake in Owens Corning by 10.1% in the 2nd quarter. American Century Companies Inc. now owns 295,328 shares of the construction company’s stock worth $51,304,000 after purchasing an additional 27,013 shares during the period. William Blair Investment Management LLC purchased a new position in Owens Corning in the 2nd quarter worth approximately $31,818,000. Finally, Envestnet Asset Management Inc. increased its stake in Owens Corning by 60.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 189,309 shares of the construction company’s stock worth $32,887,000 after purchasing an additional 71,164 shares during the period. Institutional investors 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.