Owens Corning (NYSE:OC) Receives Average Rating of “Hold” from Analysts

Shares of Owens Corning (NYSE:OC) have been assigned a consensus rating of “Hold” from the seventeen ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $56.85.

A number of brokerages have weighed in on OC. ValuEngine upgraded shares of Owens Corning from a “sell” rating to a “hold” rating in a research note on Friday. Seaport Global Securities upgraded shares of Owens Corning from a “sell” rating to a “neutral” rating in a research note on Thursday. Bank of America upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and boosted their target price for the company from $58.00 to $72.00 in a research note on Thursday. Nomura reiterated a “neutral” rating and set a $48.00 target price (down from $70.00) on shares of Owens Corning in a research note on Thursday, May 16th. Finally, Zacks Investment Research lowered shares of Owens Corning from a “hold” rating to a “sell” rating in a research note on Monday, April 29th.

OC stock traded up $1.24 during midday trading on Friday, hitting $58.20. The company’s stock had a trading volume of 1,888,087 shares, compared to its average volume of 1,807,893. The stock has a market capitalization of $6.18 billion, a P/E ratio of 11.78, a PEG ratio of 1.44 and a beta of 1.19. Owens Corning has a 12 month low of $40.64 and a 12 month high of $67.30. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.96 and a current ratio of 1.83. The business has a 50-day simple moving average of $50.41.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.02). The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.68 billion. Owens Corning had a net margin of 7.07% and a return on equity of 12.10%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company posted $0.80 earnings per share. On average, equities analysts predict that Owens Corning will post 4.67 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Tuesday, July 16th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $0.88 dividend on an annualized basis and a yield of 1.51%. Owens Corning’s dividend payout ratio is presently 17.81%.

In other news, insider Julian Francis sold 600 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $51.51, for a total value of $30,906.00. Following the completion of the sale, the insider now directly owns 76,662 shares in the company, valued at approximately $3,948,859.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael H. Thaman sold 30,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $51.49, for a total value of $1,544,700.00. Following the completion of the sale, the insider now owns 856,240 shares of the company’s stock, valued at $44,087,797.60. The disclosure for this sale can be found here. Insiders sold a total of 40,938 shares of company stock valued at $2,114,034 over the last 90 days. 1.70% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of OC. Penserra Capital Management LLC purchased a new stake in shares of Owens Corning in the 1st quarter worth $26,000. First Mercantile Trust Co. purchased a new stake in shares of Owens Corning in the 1st quarter worth $33,000. Bremer Bank National Association purchased a new stake in shares of Owens Corning in the 1st quarter worth $58,000. Bremer Trust National Association purchased a new stake in shares of Owens Corning in the 4th quarter worth $76,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Owens Corning in the 1st quarter worth $89,000. Hedge funds and other institutional investors own 96.23% of the company’s stock.

Owens Corning Company Profile

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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Analyst Recommendations for Owens Corning (NYSE:OC)

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