Analysts Set Owens Corning (NYSE:OC) Price Target at $184.23

Owens Corning (NYSE:OC) has earned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $184.23.

A number of equities analysts recently commented on the company. The Goldman Sachs Group reissued a “neutral” rating and set a $187.00 price target on shares of Owens Corning in a research note on Monday, June 17th. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. Barclays dropped their price target on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. Evercore ISI lowered their price objective on Owens Corning from $188.00 to $175.00 and set an “in-line” rating for the company in a research note on Wednesday, August 7th. Finally, UBS Group raised their price objective on Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th.

Insider Transactions at Owens Corning

In other Owens Corning news, CFO Todd W. Fister sold 3,000 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $173.65, for a total transaction of $520,950.00. Following the transaction, the chief financial officer now directly owns 31,626 shares in the company, valued at approximately $5,491,854.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

Several hedge funds have recently modified their holdings of OC. Pacer Advisors Inc. lifted its position in Owens Corning by 38.9% during the second quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock valued at $276,655,000 after acquiring an additional 446,073 shares during the last quarter. Nordea Investment Management AB lifted its position in Owens Corning by 74.4% during the first quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock valued at $210,040,000 after acquiring an additional 533,910 shares during the last quarter. Allianz Asset Management GmbH lifted its position in Owens Corning by 7.7% during the fourth quarter. Allianz Asset Management GmbH now owns 1,057,518 shares of the construction company’s stock valued at $156,756,000 after acquiring an additional 75,594 shares during the last quarter. Norges Bank purchased a new stake in Owens Corning during the fourth quarter valued at approximately $118,251,000. Finally, Point72 Asset Management L.P. lifted its position in Owens Corning by 168.3% during the second quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock valued at $128,772,000 after acquiring an additional 464,981 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Performance

NYSE OC opened at $167.77 on Tuesday. The firm has a market cap of $14.54 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 3.18 and a beta of 1.41. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91. The business has a 50-day moving average price of $167.42 and a 200-day moving average price of $169.02. Owens Corning has a twelve month low of $109.95 and a twelve month high of $191.13.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, beating analysts’ consensus estimates of $4.37 by $0.27. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period in the prior year, the company earned $4.22 earnings per share. The firm’s revenue was up 8.8% on a year-over-year basis. As a group, equities research analysts predict that Owens Corning will post 15.38 EPS for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 15th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $2.40 annualized dividend and a dividend yield of 1.43%. Owens Corning’s payout ratio is 19.43%.

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.