Owens Corning (OC) Receives Consensus Recommendation of “Hold” from Brokerages

Owens Corning (NYSE:OC) has earned an average rating of “Hold” from the nineteen brokerages that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $64.74.

A number of analysts recently weighed in on OC shares. TheStreet raised shares of Owens Corning from a “c+” rating to a “b-” rating in a research report on Thursday, February 14th. Citigroup set a $53.00 price target on shares of Owens Corning and gave the stock a “hold” rating in a research report on Tuesday, February 26th. Barclays set a $58.00 price target on shares of Owens Corning and gave the stock a “buy” rating in a research report on Tuesday, February 5th. Buckingham Research started coverage on shares of Owens Corning in a research report on Friday, February 1st. They set a “neutral” rating and a $54.00 price target for the company. Finally, Zelman & Associates cut shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 26th.

Shares of Owens Corning stock opened at $48.70 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.83 and a quick ratio of 0.96. Owens Corning has a twelve month low of $40.64 and a twelve month high of $67.43. The firm has a market cap of $5.31 billion, a P/E ratio of 9.86, a price-to-earnings-growth ratio of 1.23 and a beta of 1.21.



Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). Owens Corning had a return on equity of 12.10% and a net margin of 7.07%. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period last year, the company posted $0.80 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, sell-side analysts expect that Owens Corning will post 4.68 earnings per share for the current year.

In other Owens Corning news, insider Marcio A. Sandri sold 3,700 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $47.01, for a total value of $173,937.00. Following the transaction, the insider now owns 42,005 shares in the company, valued at approximately $1,974,655.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gunner Smith sold 7,900 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $51.79, for a total transaction of $409,141.00. Following the completion of the transaction, the insider now owns 21,189 shares in the company, valued at approximately $1,097,378.31. The disclosure for this sale can be found here. Insiders sold a total of 30,881 shares of company stock worth $1,562,045 in the last quarter. 1.70% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the company. Penserra Capital Management LLC acquired a new stake in shares of Owens Corning in the 1st quarter valued at about $26,000. First Mercantile Trust Co. acquired a new stake in shares of Owens Corning in the 1st quarter valued at about $33,000. Trust Co. of Vermont acquired a new stake in shares of Owens Corning in the 4th quarter valued at about $40,000. Reilly Financial Advisors LLC acquired a new stake in shares of Owens Corning in the 4th quarter valued at about $48,000. Finally, Bremer Bank National Association acquired a new stake in shares of Owens Corning in the 1st quarter valued at about $58,000. Institutional investors and hedge funds own 96.96% of the company’s stock.

About Owens Corning

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