Owens Corning (NYSE:OC) Given New $188.00 Price Target at Loop Capital

Owens Corning (NYSE:OC) had its target price boosted by Loop Capital from $167.00 to $188.00 in a research note issued to investors on Monday morning, Benzinga reports. Loop Capital currently has a buy rating on the construction company’s stock.

Several other equities research analysts have also recently weighed in on OC. UBS Group decreased their price target on Owens Corning from $175.00 to $169.00 and set a buy rating for the company in a research note on Thursday, February 15th. The Goldman Sachs Group raised their target price on Owens Corning from $130.00 to $147.00 and gave the stock a neutral rating in a research note on Thursday, December 14th. JPMorgan Chase & Co. reduced their price objective on Owens Corning from $164.00 to $163.00 and set a neutral rating for the company in a research note on Tuesday, February 20th. Barclays cut Owens Corning from an overweight rating to an equal weight rating and reduced their price objective for the company from $170.00 to $160.00 in a research note on Monday, February 12th. Finally, Evercore ISI cut Owens Corning from an outperform rating to an in-line rating and reduced their price objective for the company from $163.00 to $154.00 in a research note on Thursday, February 15th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Owens Corning has a consensus rating of Moderate Buy and a consensus price target of $159.64.

Owens Corning Price Performance

Owens Corning stock opened at $168.79 on Monday. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $14.69 billion, a PE ratio of 12.87, a P/E/G ratio of 0.45 and a beta of 1.47. Owens Corning has a 12 month low of $91.51 and a 12 month high of $169.30. The stock has a 50-day moving average price of $153.82 and a two-hundred day moving average price of $142.28.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, February 14th. The construction company reported $3.21 EPS for the quarter, beating the consensus estimate of $2.82 by $0.39. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.25 billion. Owens Corning had a return on equity of 25.88% and a net margin of 12.36%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the company earned $2.49 earnings per share. Analysts expect that Owens Corning will post 14.08 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Monday, March 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, March 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.42%. Owens Corning’s dividend payout ratio (DPR) is currently 18.29%.

Insider Buying and Selling

In related news, CEO Brian Chambers sold 9,100 shares of Owens Corning stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the sale, the chief executive officer now directly owns 269,696 shares in the company, valued at $41,417,214.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Owens Corning news, CEO Brian Chambers sold 9,100 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $153.57, for a total value of $1,397,487.00. Following the completion of the sale, the chief executive officer now directly owns 269,696 shares of the company’s stock, valued at $41,417,214.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paula Russell sold 3,765 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the sale, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at $3,307,878. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,672 shares of company stock worth $3,325,799. 0.90% of the stock is owned by company insiders.

Institutional Trading of Owens Corning

Large investors have recently bought and sold shares of the company. Contravisory Investment Management Inc. purchased a new position in shares of Owens Corning in the fourth quarter valued at $27,000. Bruce G. Allen Investments LLC purchased a new position in Owens Corning during the fourth quarter worth about $27,000. Financial Management Professionals Inc. purchased a new position in Owens Corning during the third quarter worth about $29,000. First Capital Advisors Group LLC. bought a new stake in Owens Corning during the second quarter worth about $31,000. Finally, IFP Advisors Inc boosted its holdings in shares of Owens Corning by 78.1% in the 2nd quarter. IFP Advisors Inc now owns 244 shares of the construction company’s stock worth $32,000 after purchasing an additional 107 shares in the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

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.