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

Shares of Owens Corning (NYSE:OC) have earned an average rating of “Moderate Buy” from the fourteen brokerages that are covering the company, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $192.62.

Several research firms recently weighed in on OC. Wells Fargo & Company upped their price objective on shares of Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Evercore ISI increased their target price on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Benchmark reissued a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Finally, The Goldman Sachs Group increased their target price on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th.

Owens Corning Trading Down 1.3 %

OC opened at $208.07 on Friday. Owens Corning has a twelve month low of $131.67 and a twelve month high of $214.53. The company has a 50-day simple moving average of $183.63 and a 200 day simple moving average of $175.64. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $17.85 billion, a price-to-earnings ratio of 17.70, a P/E/G ratio of 2.27 and a beta of 1.41.

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

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were issued a $0.60 dividend. The ex-dividend date was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a yield of 1.15%. Owens Corning’s dividend payout ratio (DPR) is presently 20.43%.

Insider Activity at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is owned by company insiders.

Institutional Trading of Owens Corning

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OC. UniSuper Management Pty Ltd increased its position in Owens Corning by 85.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 1,300 shares of the construction company’s stock valued at $217,000 after purchasing an additional 600 shares during the period. Bessemer Group Inc. increased its position in Owens Corning by 24.9% during the 1st quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock valued at $65,000 after purchasing an additional 78 shares during the period. Quadrature Capital Ltd acquired a new stake in Owens Corning during the 1st quarter valued at approximately $416,000. 1832 Asset Management L.P. increased its position in Owens Corning by 10.3% during the 1st quarter. 1832 Asset Management L.P. now owns 11,622 shares of the construction company’s stock valued at $1,939,000 after purchasing an additional 1,085 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Owens Corning by 14.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 74,470 shares of the construction company’s stock worth $12,422,000 after buying an additional 9,584 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

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.