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

Shares of Owens Corning (NYSE:OC) have received an average rating of “Moderate Buy” from the thirteen research firms that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $202.42.

A number of brokerages recently issued reports on OC. Royal Bank of Canada reissued an “outperform” rating and issued a $212.00 price objective on shares of Owens Corning in a report on Monday, March 17th. JPMorgan Chase & Co. cut their price target on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Citigroup decreased their price objective on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Loop Capital cut their target price on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, UBS Group decreased their price target on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th.

Owens Corning Stock Up 2.2 %

OC stock opened at $147.20 on Friday. 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 firm has a 50-day moving average of $162.15 and a two-hundred day moving average of $175.91. Owens Corning has a 12 month low of $137.50 and a 12 month high of $214.53. The company has a market cap of $12.59 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating the consensus estimate of $2.87 by $0.35. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.21 earnings per share. As a group, analysts forecast that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be given a $0.69 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.88%. Owens Corning’s dividend payout ratio is presently 37.70%.

Insiders Place Their Bets

In other news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the transaction, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. increased its position in Owens Corning by 4.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock valued at $221,000 after acquiring an additional 53 shares during the period. Greenleaf Trust increased its holdings in shares of Owens Corning by 1.5% in the fourth quarter. Greenleaf Trust now owns 3,895 shares of the construction company’s stock valued at $663,000 after purchasing an additional 56 shares during the period. CoreCap Advisors LLC increased its holdings in shares of Owens Corning by 3.3% in the fourth quarter. CoreCap Advisors LLC now owns 1,789 shares of the construction company’s stock valued at $305,000 after purchasing an additional 57 shares during the period. Retirement Guys Formula LLC lifted its holdings in shares of Owens Corning by 3.1% during the fourth quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company’s stock worth $341,000 after purchasing an additional 60 shares during the period. Finally, IFP Advisors Inc grew its position in Owens Corning by 35.6% in the 4th quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock valued at $40,000 after buying an additional 62 shares during the last quarter. Hedge funds and other 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.