Brokerages Set Owens Corning Inc (NYSE:OC) Target Price at $145.09

Owens Corning Inc (NYSE:OC) has received a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $144.00.

A number of equities analysts have recently weighed in on OC shares. UBS Group increased their price target on Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Barclays lowered their price target on Owens Corning from $138.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Truist Financial lifted their target price on Owens Corning from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on shares of Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, The Goldman Sachs Group increased their price target on shares of Owens Corning from $125.00 to $141.00 and gave the stock a “neutral” rating in a research report on Thursday.

Owens Corning Stock Performance

NYSE OC opened at $121.50 on Friday. The stock has a market cap of $9.78 billion, a PE ratio of -18.38, a P/E/G ratio of 2.06 and a beta of 1.35. The company has a current ratio of 1.24, a quick ratio of 0.70 and a debt-to-equity ratio of 1.27. Owens Corning has a twelve month low of $97.53 and a twelve month high of $159.42. The stock has a fifty day simple moving average of $113.83 and a 200-day simple moving average of $117.00.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.21. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The company’s revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.97 EPS. Equities analysts anticipate that Owens Corning will post 9.12 earnings per share for the current year.

Hedge Funds Weigh In On Owens Corning

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. purchased a new stake in shares of Owens Corning during the fourth quarter worth $29,000. Cassaday & Co Wealth Management LLC purchased a new position in Owens Corning in the first quarter valued at $30,000. Harbour Investments Inc. grew its stake in Owens Corning by 66.5% during the 4th quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock worth $36,000 after purchasing an additional 129 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Owens Corning during the 4th quarter worth $37,000. Finally, Root Financial Partners LLC acquired a new stake in Owens Corning in the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

About Owens Corning

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.