Weekly Research Analysts’ Ratings Updates for Owens Corning (OC)

by · The Markets Daily

Owens Corning (NYSE: OC) recently received a number of ratings updates from brokerages and research firms:

  • 11/9/2024 – Owens Corning was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 11/7/2024 – Owens Corning had its price target raised by analysts at Royal Bank of Canada from $213.00 to $217.00. They now have an “outperform” rating on the stock.
  • 11/7/2024 – Owens Corning had its price target raised by analysts at The Goldman Sachs Group, Inc. from $178.00 to $198.00. They now have a “neutral” rating on the stock.
  • 11/7/2024 – Owens Corning had its price target raised by analysts at Evercore ISI from $189.00 to $196.00. They now have an “in-line” rating on the stock.
  • 11/7/2024 – Owens Corning had its price target raised by analysts at Wells Fargo & Company from $175.00 to $195.00. They now have an “equal weight” rating on the stock.
  • 11/7/2024 – Owens Corning had its price target raised by analysts at UBS Group AG from $197.00 to $218.00. They now have a “buy” rating on the stock.
  • 11/1/2024 – Owens Corning was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 10/24/2024 – Owens Corning was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 10/16/2024 – Owens Corning had its price target raised by analysts at Evercore ISI from $175.00 to $189.00. They now have an “in-line” rating on the stock.
  • 10/7/2024 – Owens Corning had its price target raised by analysts at Wells Fargo & Company from $165.00 to $175.00. They now have an “equal weight” rating on the stock.
  • 10/1/2024 – Owens Corning was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

Owens Corning Trading Up 2.7 %

NYSE:OC traded up $5.12 during mid-day trading on Wednesday, reaching $195.79. The company’s stock had a trading volume of 1,045,708 shares, compared to its average volume of 684,767. The company’s fifty day simple moving average is $176.94 and its two-hundred day simple moving average is $174.09. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. Owens Corning has a twelve month low of $127.64 and a twelve month high of $197.58. The stock has a market cap of $16.79 billion, a P/E ratio of 16.66, a P/E/G ratio of 2.14 and a beta of 1.41.

Owens Corning (NYSE:OC – Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the previous year, the business earned $4.15 EPS. Owens Corning’s revenue for the quarter was up 22.9% compared to the same quarter last year. On average, equities analysts predict that Owens Corning will post 15.39 EPS for the current year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a yield of 1.23%. Owens Corning’s dividend payout ratio (DPR) is currently 20.43%.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares in the company, valued at $10,222,100. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $538,501.50. Following the completion of the transaction, the insider now owns 57,079 shares in the company, valued at $10,074,443.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by corporate insiders.

Institutional Trading of Owens Corning

Hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Freres Gestion S.A.S. boosted its holdings in shares of Owens Corning by 16.5% during the third quarter. Lazard Freres Gestion S.A.S. now owns 2,680 shares of the construction company’s stock worth $473,000 after acquiring an additional 380 shares during the period. Avestar Capital LLC increased its holdings in shares of Owens Corning by 3.1% during the third quarter. Avestar Capital LLC now owns 3,451 shares of the construction company’s stock worth $609,000 after buying an additional 105 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Owens Corning in the third quarter worth $38,000. Private Trust Co. NA grew its stake in shares of Owens Corning by 44.8% in the third quarter. Private Trust Co. NA now owns 566 shares of the construction company’s stock worth $100,000 after purchasing an additional 175 shares during the last quarter. Finally, Truvestments Capital LLC boosted its position in Owens Corning by 9.7% during the third quarter. Truvestments Capital LLC now owns 4,543 shares of the construction company’s stock valued at $802,000 after acquiring an additional 400 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

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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