Owens Corning (OC) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Owens Corning (NYSE:OC) have been assigned an average recommendation of “Hold” from the twenty analysts that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $76.00.

OC has been the subject of several research reports. Goldman Sachs Group initiated coverage on shares of Owens Corning in a research note on Tuesday, October 2nd. They issued a “buy” rating and a $75.00 price target for the company. Longbow Research restated a “buy” rating on shares of Owens Corning in a research note on Monday, September 24th. Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $62.00 to $58.00 in a research note on Thursday, October 25th. Bank of America downgraded shares of Owens Corning from a “neutral” rating to an “underperform” rating in a research note on Tuesday, October 23rd. Finally, Credit Suisse Group dropped their price target on shares of Owens Corning from $57.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, October 25th.

Shares of OC stock traded up $0.88 during trading on Friday, hitting $51.52. 42,063 shares of the stock traded hands, compared to its average volume of 1,706,352. The firm has a market cap of $5.54 billion, a PE ratio of 11.71, a PEG ratio of 0.79 and a beta of 1.14. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.87 and a current ratio of 1.62. Owens Corning has a 52-week low of $42.88 and a 52-week high of $96.52.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, October 24th. The construction company reported $1.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by ($0.11). Owens Corning had a net margin of 5.33% and a return on equity of 12.37%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the business posted $1.25 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities research analysts predict that Owens Corning will post 4.74 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 2nd. Investors of record on Tuesday, October 16th were given a $0.21 dividend. The ex-dividend date was Monday, October 15th. This represents a $0.84 dividend on an annualized basis and a yield of 1.63%. Owens Corning’s dividend payout ratio (DPR) is presently 19.09%.

Large investors have recently made changes to their positions in the company. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in shares of Owens Corning during the second quarter worth approximately $127,000. Gradient Investments LLC acquired a new stake in Owens Corning during the 3rd quarter worth about $138,000. Pendal Group Ltd acquired a new position in shares of Owens Corning during the third quarter worth $145,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in shares of Owens Corning during the second quarter worth $163,000. Finally, Synovus Financial Corp grew its stake in shares of Owens Corning by 2,016.9% during the second quarter. Synovus Financial Corp now owns 3,133 shares of the construction company’s stock worth $198,000 after purchasing an additional 2,985 shares in the last quarter. 90.42% of the stock is owned by institutional investors and hedge funds.

Owens Corning Company Profile

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential and commercial 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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