Shares of Owens Corning (NYSE:OC) have been assigned a consensus recommendation of “Buy” from the twenty-three ratings firms that are covering the firm, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $88.20.
A number of equities analysts recently issued reports on the company. Credit Suisse Group restated an “outperform” rating and issued a $110.00 target price (up previously from $95.00) on shares of Owens Corning in a research note on Monday, January 22nd. They noted that the move was a valuation call. KeyCorp restated a “buy” rating and issued a $115.00 target price on shares of Owens Corning in a research note on Friday, January 12th. Zacks Investment Research upgraded Owens Corning from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a research note on Thursday, January 18th. Zelman & Associates lowered Owens Corning from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Finally, Seaport Global Securities raised their target price on Owens Corning from $90.00 to $107.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of Owens Corning by 20.9% during the 4th quarter. BlackRock Inc. now owns 7,357,067 shares of the construction company’s stock valued at $676,411,000 after acquiring an additional 1,273,051 shares during the period. Bank of Montreal Can grew its position in shares of Owens Corning by 1.3% during the 4th quarter. Bank of Montreal Can now owns 2,330,788 shares of the construction company’s stock valued at $214,292,000 after acquiring an additional 28,893 shares during the period. LSV Asset Management grew its position in shares of Owens Corning by 0.5% during the 4th quarter. LSV Asset Management now owns 1,970,691 shares of the construction company’s stock valued at $181,185,000 after acquiring an additional 9,884 shares during the period. Allianz Asset Management GmbH grew its position in shares of Owens Corning by 5.3% during the 4th quarter. Allianz Asset Management GmbH now owns 1,894,037 shares of the construction company’s stock valued at $174,137,000 after acquiring an additional 95,571 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Owens Corning by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 1,361,187 shares of the construction company’s stock valued at $125,094,000 after acquiring an additional 51,140 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.
Shares of Owens Corning (NYSE:OC) traded up $1.93 on Friday, hitting $83.33. The stock had a trading volume of 761,452 shares, compared to its average volume of 1,220,000. Owens Corning has a 12-month low of $59.26 and a 12-month high of $96.52. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.89 and a current ratio of 1.55. The stock has a market cap of $9,530.00, a price-to-earnings ratio of 25.33, a PEG ratio of 0.81 and a beta of 1.08.
Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, February 21st. The construction company reported $1.11 EPS for the quarter, beating the consensus estimate of $1.04 by $0.07. Owens Corning had a return on equity of 12.26% and a net margin of 4.53%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the business posted $0.72 EPS. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. research analysts forecast that Owens Corning will post 5.66 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Friday, March 9th will be paid a dividend of $0.21 per share. The ex-dividend date is Thursday, March 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.01%. Owens Corning’s payout ratio is currently 25.53%.
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.
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