Owens Corning (NYSE:OC) Price Target Raised to $189.00

Owens Corning (NYSE:OC) had its target price hoisted by Evercore ISI from $175.00 to $189.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an in-line rating on the construction company’s stock.

OC has been the topic of a number of other research reports. Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and increased their target price for the company from $178.00 to $191.00 in a research report on Thursday, July 11th. Wells Fargo & Company raised their price target on shares of Owens Corning from $165.00 to $175.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Barclays decreased their target price on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. Finally, UBS Group boosted their price target on Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $187.77.

Owens Corning Stock Up 1.5 %

OC stock opened at $189.60 on Wednesday. Owens Corning has a one year low of $109.95 and a one year high of $191.44. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37. The firm’s fifty day moving average is $170.05 and its 200 day moving average is $171.89. The firm has a market cap of $16.49 billion, a PE ratio of 16.05, a P/E/G ratio of 3.74 and a beta of 1.41.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, beating the consensus estimate of $4.37 by $0.27. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.92 billion. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. Owens Corning’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.22 EPS. On average, research analysts forecast that Owens Corning will post 15.34 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 18th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.27%. Owens Corning’s dividend payout ratio is currently 20.32%.

Insider Activity at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the sale, the insider now owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the transaction, the insider now owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Institutional Trading of Owens Corning

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC purchased a new stake in shares of Owens Corning in the 4th quarter valued at $224,000. Virtu Financial LLC acquired a new position in Owens Corning in the 4th quarter valued at about $242,000. Goldman Sachs Group Inc. increased its stake in Owens Corning by 25.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 258,998 shares of the construction company’s stock worth $38,391,000 after purchasing an additional 52,116 shares during the period. HighPoint Advisor Group LLC acquired a new stake in shares of Owens Corning during the fourth quarter worth about $572,000. Finally, NBC Securities Inc. purchased a new position in shares of Owens Corning in the first quarter valued at approximately $26,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

About Owens Corning

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. 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.