Owens Corning (NYSE:OC) had its target price increased by analysts at Stifel Nicolaus from $55.00 to $61.00 in a note issued to investors on Thursday. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 19.54% from the stock’s previous close.
OC has been the topic of several other reports. Zacks Investment Research upgraded shares of Owens Corning from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Wednesday, June 29th. Jefferies Group restated a “buy” rating and issued a $61.00 price objective on shares of Owens Corning in a report on Sunday, May 22nd. Wedbush boosted their price objective on shares of Owens Corning from $50.00 to $52.00 in a report on Wednesday, April 6th. Royal Bank Of Canada boosted their price target on shares of Owens Corning from $53.00 to $57.00 in a research note on Tuesday, April 12th. Finally, Zelman & Associates lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Thursday, April 28th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Owens Corning presently has an average rating of “Hold” and an average price target of $54.13.
Owens Corning (NYSE:OC) traded down 0.80% during mid-day trading on Thursday, reaching $51.03. 1,815,232 shares of the company were exchanged. The firm has a market capitalization of $5.86 billion, a P/E ratio of 14.41 and a beta of 1.60. Owens Corning has a 1-year low of $38.95 and a 1-year high of $58.69. The stock has a 50-day moving average of $53.98 and a 200 day moving average of $50.71.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/18/stifel-nicolaus-raises-owens-corning-oc-price-target-to-61-00.html
Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.43. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.46 billion. Owens Corning had a net margin of 7.52% and a return on equity of 10.57%. Owens Corning’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 EPS. Equities research analysts forecast that Owens Corning will post $3.45 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Monday, October 17th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Thursday, October 13th. Owens Corning’s dividend payout ratio (DPR) is 20.28%.
In related news, insider Arnaud Genis sold 66,619 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $54.68, for a total value of $3,642,726.92. Following the completion of the transaction, the insider now directly owns 101,538 shares of the company’s stock, valued at $5,552,097.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director W Howard Morris sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $53.25, for a total value of $213,000.00. Following the completion of the transaction, the director now directly owns 38,769 shares of the company’s stock, valued at $2,064,449.25. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in OC. Raymond James Trust N.A. increased its stake in Owens Corning by 1.0% in the second quarter. Raymond James Trust N.A. now owns 5,122 shares of the company’s stock valued at $264,000 after buying an additional 53 shares during the last quarter. Globeflex Capital L P increased its stake in Owens Corning by 0.3% in the second quarter. Globeflex Capital L P now owns 28,324 shares of the company’s stock valued at $1,459,000 after buying an additional 91 shares during the last quarter. Amalgamated Bank increased its stake in Owens Corning by 1.0% in the second quarter. Amalgamated Bank now owns 13,866 shares of the company’s stock valued at $749,000 after buying an additional 138 shares during the last quarter. Nisa Investment Advisors L.L.C. increased its stake in Owens Corning by 3.7% in the first quarter. Nisa Investment Advisors L.L.C. now owns 5,600 shares of the company’s stock valued at $265,000 after buying an additional 200 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its stake in Owens Corning by 2.6% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 9,991 shares of the company’s stock valued at $515,000 after buying an additional 249 shares during the last quarter.
About Owens Corning
Owens Corning is a holding company, which is engaged in the business of composite and building materials systems. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
Receive News & Ratings for Owens Corning Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Owens Corning and related companies with MarketBeat.com’s FREE daily email newsletter.