Owens Corning Inc (NYSE:OC) Receives Average Recommendation of "Hold" from Brokerages

Owens Corning Inc (NYSE:OC) has received an average recommendation of "Hold" from seventeen analysts. The stock has two sell ratings, five hold ratings, and ten buy ratings. The average 12-month target price is $157.67. Recent analyst actions include downgrades and price target adjustments. Institutional investors hold 88.40% of the stock. Owens Corning reported Q3 earnings of $3.67 per share, beating estimates, with revenue of $2.68 billion. The company also announced a quarterly dividend of $0.69 per share.

Owens Corning Inc (NYSE:OC - Get Free Report) has received an average recommendation of "Hold" from the seventeen analysts that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $157.6667.

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Several brokerages have weighed in on OC. Vertical Research started coverage on Owens Corning in a research note on Monday, October 20th. They issued a "hold" rating on the stock. Evercore ISI set a $121.00 price target on Owens Corning in a report on Thursday, November 6th. Zacks Research lowered shares of Owens Corning from a "hold" rating to a "strong sell" rating in a research report on Wednesday, October 15th. Bank of America cut their price objective on shares of Owens Corning from $180.00 to $168.00 and set a "buy" rating for the company in a research report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. reduced their target price on shares of Owens Corning from $157.00 to $113.00 and set a "neutral" rating for the company in a research note on Tuesday, November 11th.

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Institutional Trading of Owens Corning

MarketBeat Week in Review – 8/5 - 8/9

Several hedge funds have recently modified their holdings of OC. Vanguard Group Inc. grew its holdings in Owens Corning by 1.3% during the second quarter. Vanguard Group Inc. now owns 9,947,480 shares of the construction company's stock worth $1,367,977,000 after acquiring an additional 131,795 shares during the period. State Street Corp grew its stake in shares of Owens Corning by 2.3% during the 3rd quarter. State Street Corp now owns 3,634,987 shares of the construction company's stock worth $514,205,000 after purchasing an additional 81,133 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Owens Corning by 67.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,380,123 shares of the construction company's stock valued at $339,930,000 after purchasing an additional 957,295 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Owens Corning by 0.7% in the second quarter. Nordea Investment Management AB now owns 2,225,800 shares of the construction company's stock valued at $305,291,000 after purchasing an additional 15,927 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Owens Corning by 6.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,930,632 shares of the construction company's stock worth $273,101,000 after buying an additional 110,452 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Stock Up 1.5%

Shares of NYSE:OC opened at $114.20 on Thursday. Owens Corning has a 1-year low of $97.53 and a 1-year high of $203.71. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.40 and a quick ratio of 0.86. The stock has a market cap of $9.39 billion, a P/E ratio of -19.97, a P/E/G ratio of 9.15 and a beta of 1.34. The firm has a fifty day moving average price of $120.49 and a 200 day moving average price of $135.36.

Owens-Corning Stock: Good Value or Recession Red Flag?

Owens Corning (NYSE:OC - Get Free Report) last announced its earnings results on Wednesday, November 5th. The construction company reported $3.67 EPS for the quarter, beating analysts' consensus estimates of $3.64 by $0.03. Owens Corning had a negative net margin of 4.46% and a positive return on equity of 24.42%. The business had revenue of $2.68 billion during the quarter, compared to analysts' expectations of $2.71 billion. During the same period in the prior year, the company earned $4.38 earnings per share. The business's revenue was down 2.9% compared to the same quarter last year. Sell-side analysts predict that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 6th. Shareholders of record on Monday, October 20th were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Monday, October 20th. Owens Corning's payout ratio is currently -48.25%.

Owens Corning Company Profile

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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.

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