Analysts Set Owens Corning (OC) Price Target at $80.50

Owens Corning (NYSE:OC) has received a consensus recommendation of “Buy” from the twenty-three brokerages that are presently covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $81.63.

OC has been the topic of several recent analyst reports. Credit Suisse Group set a $90.00 price objective on shares of Owens Corning and gave the company an “outperform” rating in a research report on Tuesday, October 17th. Evercore ISI reissued an “outperform” rating and set a $80.00 price objective (down from $88.00) on shares of Owens Corning in a research report on Wednesday, October 11th. Bank of America increased their price objective on shares of Owens Corning from $84.00 to $97.00 and gave the company a “buy” rating in a research report on Friday, November 17th. Nomura reaffirmed a “neutral” rating and set a $79.00 price target on shares of Owens Corning in a report on Monday, September 11th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $83.00 price target on shares of Owens Corning in a report on Friday, September 1st.

In other news, VP Ava Harter sold 487 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $81.96, for a total value of $39,914.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Michael C. Mcmurray sold 18,000 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $90.78, for a total transaction of $1,634,040.00. Following the completion of the transaction, the chief financial officer now owns 52,228 shares in the company, valued at approximately $4,741,257.84. The disclosure for this sale can be found here. Insiders sold a total of 129,933 shares of company stock worth $11,196,722 in the last quarter. Company insiders own 1.80% of the company’s stock.

Large investors have recently modified their holdings of the company. Grove Bank & Trust raised its stake 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 acquiring an additional 1,110 shares during the period. Penserra Capital Management LLC raised its stake 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 acquiring an additional 296 shares during the period. Crossmark Global Holdings Inc. bought a new stake in Owens Corning during the 3rd quarter worth approximately $202,000. Worth Venture Partners LLC bought a new stake in Owens Corning during the 3rd quarter worth approximately $213,000. Finally, Advisors Asset Management Inc. raised its stake in Owens Corning by 214.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,764 shares of the construction company’s stock worth $214,000 after acquiring an additional 1,885 shares during the period. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Shares of Owens Corning (NYSE OC) traded up $0.83 during mid-day trading on Monday, reaching $92.75. 477,086 shares of the company traded hands, compared to its average volume of 1,048,992. Owens Corning has a one year low of $50.77 and a one year high of $92.85. The stock has a market cap of $10,150.00, a P/E ratio of 27.69, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The company has a quick ratio of 0.99, a current ratio of 1.66 and a debt-to-equity ratio of 0.62.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, October 25th. The construction company reported $1.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.01). Owens Corning had a net margin of 6.15% and a return on equity of 11.40%. The firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the company posted $1.09 earnings per share. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. analysts anticipate that Owens Corning will post 4.33 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Tuesday, January 2nd will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, December 29th. This is an increase from Owens Corning’s previous quarterly dividend of $0.20. Owens Corning’s dividend payout ratio (DPR) is presently 23.88%.

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Owens Corning Company Profile

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.

Analyst Recommendations for Owens Corning (NYSE:OC)

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