Stocks of Owens Corning (NYSE:OC) traded higher last session on Wall Street, up 0.40% to $139.06.
According to the data, Owens Corning (NYSE:OC) has 18 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $185.00 and a low of $95.00, we find $157.00. Given the previous closing price of $138.51, this indicates a potential upside of 13.35 percent. OC stock price is now 13.94% away from the 50-day moving average and 38.43% away from the 200-day moving average. The market capitalization of the company currently stands at $12.59B.
A total of 8 analysts have issued a hold rating and 7 have given it a buy rating. Brokers who have rated the stock have averaged $147.20 as their price target over the next twelve months.
With the price target enhanced from $135 to $168, RBC Capital Mkts Upgraded its rating from Sector Perform to Outperform for Owens Corning (NYSE: OC).
In other news, Doerfler Mari, Vice President and Controller sold 300 shares of the company’s stock on Jun 07. The stock was sold for $35,373 at an average price of $117.91. Upon completion of the transaction, the Vice President and Controller now directly owns 4,873 shares in the company, valued at $0.68 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 06, President, Roofing Smith Gunner sold 6,900 shares of the business’s stock. A total of $793,569 was realized by selling the stock at an average price of $115.01. This leaves the insider owning 31,153 shares of the company worth $4.33 million. Insiders disposed of 195,453 shares of company stock worth roughly $27.18 million over the past 1 year. A total of 0.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in OC stock. A new stake in Owens Corning shares was purchased by EMPOWER ADVISORY GROUP, LLC during the first quarter worth $79,109,000. UNITED SERVICES AUTOMOBILE ASSOCIATION invested $17,513,000 in shares of OC during the first quarter. In the first quarter, J. GOLDMAN & CO LP acquired a new stake in Owens Corning valued at approximately $12,267,000. CAMBRIA INVESTMENT MANAGEMENT, L.P. acquired a new stake in OC for approximately $10,794,000. EA SERIES TRUST purchased a new stake in OC valued at around $9,243,000 in the second quarter. In total, there are 841 active investors with 103.92% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $142.26 for Owens Corning (NYSE: OC). During the past 12 months, Owens Corning has had a low of $74.22 and a high of $139.45. As of last week, the company has a debt-to-equity ratio of 0.63, a current ratio of 1.90, and a quick ratio of 1.20. According to the stock market information, the enterprise value for the company is $14.75B, which is based on a 10.07 price-to-earnings ratio, a 1.78 price-to-earnings-growth ratio, and a beta of 1.47. The fifty day moving average price for OC is $122.68 and a two-hundred day moving average price translates $100.73 for the stock.
The latest earnings results from Owens Corning (NYSE: OC) was released for Jun, 2023. According to the Building Products & Equipment Company, earnings per share came in at $4.22, beating analysts’ expectations of $3.23 by 0.99. This compares to $3.49 EPS in the same period last year. The net profit margin was 13.50% and return on equity was 28.50% for OC. The company reported revenue of $2.56 billion for the quarter, compared to $2.6 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -1.46 percent. For the current quarter, analysts expect OC to generate $2.32B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/04/2023. Investors who held shares on 07/17/2023 were paid a $0.52 dividend. On an annualized basis, this represents a $2.08 dividend and a 1.50% percent yield. There was an ex-dividend date of 07/14/2023 for this dividend. In terms of dividend payout ratio, OC is presently at 11.30%.
Owens Corning(OC) Company Profile
Owens Corning engages in manufacture and sale of insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, Latin America, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products. Its products are used in building structures, roofing shingles, tubs and showers, pools, decking, flooring, pipes and tanks, poles, electrical equipment, and wind-energy turbine blades. This segment sells its products directly to parts molders, fabricators, and shingle manufacturers. The Insulation segment manufactures and sells thermal and acoustical batts, loosefill insulation, spray foam insulation, foam sheathing and accessories under the Owens Corning PINK, and FIBERGLAS brands; and glass fiber pipe insulation, energy efficient flexible duct media, bonded and granulated mineral wool insulation, cellular glass insulation, and foam insulation under the FOAMULAR, FOAMGLAS, and Paroc brand names used in construction applications. This segment sells its products primarily to the insulation installers, home centers, lumberyards, retailers, and distributors. 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, as well as synthetic packaging materials. This segment sells its products through distributors, home centers, lumberyards, retailers, and contractors, as well as to roofing contractors for built-up roofing asphalt systems; and manufacturers in automotive, chemical, rubber, and construction industries. The company was incorporated in 1938 and is headquartered in Toledo, Ohio.
