Brokerages Set Owens Corning (NYSE:OC) Target Price at $192.62

Owens Corning (NYSE:OC) has earned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $192.62.

A number of equities research analysts recently weighed in on OC shares. Wells Fargo & Company upped their price target on Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Evercore ISI raised their price target on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. The Goldman Sachs Group increased their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada lifted their target price on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th.

Insider Buying and Selling

In related news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the transaction, the insider now owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. This represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.89% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Owens Corning

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ST Germain D J Co. Inc. grew its stake in Owens Corning by 794.1% during the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after buying an additional 135 shares during the period. Innealta Capital LLC purchased a new stake in Owens Corning during the 2nd quarter worth $32,000. Tobam increased its holdings in Owens Corning by 115.7% in the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after purchasing an additional 103 shares in the last quarter. Brooklyn Investment Group purchased a new position in Owens Corning in the third quarter valued at about $38,000. Finally, Quarry LP lifted its stake in shares of Owens Corning by 165.5% during the second quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after purchasing an additional 144 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Price Performance

Owens Corning stock opened at $205.10 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a one year low of $131.67 and a one year high of $214.53. The company has a market cap of $17.59 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 2.36 and a beta of 1.41. The business has a fifty day moving average of $185.03 and a two-hundred day moving average of $176.07.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the previous year, the firm earned $4.15 earnings per share. The firm’s revenue was up 22.9% on a year-over-year basis. As a group, analysts predict that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were paid a $0.60 dividend. The ex-dividend date was Friday, October 18th. This represents a $2.40 annualized dividend and a yield of 1.17%. Owens Corning’s payout ratio is currently 20.43%.

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.