Owens Corning Inc (NYSE:OC) had its price target upped by Credit Suisse Group from $90.00 to $95.00 in a research report report published on Friday. They currently have an outperform rating on the construction company’s stock.
A number of other analysts have also weighed in on the stock. Stifel Nicolaus reissued a buy rating and issued a $83.00 price target on shares of Owens Corning in a report on Friday, September 1st. Wells Fargo & Company raised shares of Owens Corning from a market perform rating to an outperform rating and raised their price target for the company from $68.00 to $83.00 in a report on Wednesday, August 30th. SunTrust Banks, Inc. raised their price target on shares of Owens Corning from $66.00 to $75.00 and gave the company a hold rating in a report on Thursday, October 26th. Instinet lowered shares of Owens Corning from a buy rating to a neutral rating and raised their price target for the company from $74.00 to $79.00 in a report on Monday, September 11th. Finally, KeyCorp reissued a buy rating and issued a $84.00 price target on shares of Owens Corning in a report on Wednesday, September 13th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $78.20.
Owens Corning (NYSE:OC) opened at $85.63 on Friday. Owens Corning has a one year low of $50.77 and a one year high of $85.76. The company has a quick ratio of 0.99, a current ratio of 1.66 and a debt-to-equity ratio of 0.62. The stock has a market cap of $9,525.57, a P/E ratio of 21.30, a PEG ratio of 1.49 and a beta of 1.08.
Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.63 billion. Owens Corning had a net margin of 6.15% and a return on equity of 11.40%. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.09 EPS. sell-side analysts forecast that Owens Corning will post 4.32 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 2nd. Stockholders of record on Monday, October 16th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Friday, October 13th. Owens Corning’s dividend payout ratio (DPR) is 23.88%.
In related news, insider Arnaud Genis sold 6,000 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $70.75, for a total value of $424,500.00. Following the sale, the insider now directly owns 58,374 shares of the company’s stock, valued at approximately $4,129,960.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kelly Schmidt sold 1,462 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $70.35, for a total transaction of $102,851.70. The disclosure for this sale can be found here. Insiders sold a total of 198,779 shares of company stock valued at $14,735,728 in the last three months. 1.80% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Grove Bank & Trust lifted its position in Owens Corning by 213.5% during the 3rd quarter. Grove Bank & Trust now owns 1,630 shares of the construction company’s stock worth $126,000 after buying an additional 1,110 shares in the last quarter. Creative Planning lifted its position in Owens Corning by 104.3% during the 2nd quarter. Creative Planning now owns 2,043 shares of the construction company’s stock worth $137,000 after buying an additional 1,043 shares in the last quarter. Penserra Capital Management LLC lifted its position in Owens Corning by 11.1% during the 2nd quarter. Penserra Capital Management LLC now owns 2,964 shares of the construction company’s stock worth $198,000 after buying an additional 296 shares in the last quarter. First Bank & Trust lifted its position in Owens Corning by 3.6% during the 2nd quarter. First Bank & Trust now owns 3,024 shares of the construction company’s stock worth $202,000 after buying an additional 104 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in Owens Corning during the 3rd quarter worth about $202,000. 95.58% of the stock is currently owned by institutional investors and hedge funds.
About Owens Corning
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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