Key Points
- Insider sale: Owens Corning insider Rachel Barthelemy Marcon sold 700 shares at $120.71 each, totaling $84,497. The transaction was made under a pre-arranged Rule 10b5-1 trading plan.
- Recent performance: Owens Corning reported quarterly EPS of $1.22, beating estimates of $1.01, and revenue of $2.27 billion, also above expectations. However, revenue was still down 10.5% year over year.
- Analyst sentiment: Wall Street remains broadly positive on the stock, with a Moderate Buy consensus and an average target price of $144.82. Several firms recently raised price targets, including RBC, UBS, and Wells Fargo.
Owens Corning Inc (NYSE:OC - Get Free Report) insider Rachel Barthelemy Marcon sold 700 shares of the business's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total transaction of $84,497.00. Following the sale, the insider owned 15,848 shares of the company's stock, valued at approximately $1,913,012.08. The trade was a 4.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Owens Corning Stock Up 1.5%
OC stock opened at $126.07 on Friday. The firm has a market cap of $10.15 billion, a price-to-earnings ratio of -19.07, a PEG ratio of 2.25 and a beta of 1.35. The firm has a fifty day moving average price of $115.82 and a two-hundred day moving average price of $116.55. Owens Corning Inc has a 1-year low of $97.53 and a 1-year high of $159.42. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.24 and a quick ratio of 0.74.
Owens Corning (NYSE:OC - Get Free Report) last posted its earnings results on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.01 by $0.21. The company had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.18 billion. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The business's revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.97 earnings per share. Research analysts predict that Owens Corning Inc will post 9.53 EPS for the current year.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the company. Royal Bank Of Canada upped their target price on Owens Corning from $134.00 to $148.00 and gave the company an "outperform" rating in a report on Thursday, May 7th. UBS Group upped their price target on shares of Owens Corning from $160.00 to $172.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Evercore set a $139.00 price target on shares of Owens Corning in a research report on Thursday, May 7th. Truist Financial upped their price target on shares of Owens Corning from $120.00 to $125.00 and gave the stock a "hold" rating in a research report on Thursday, May 7th. Finally, Wells Fargo & Company upped their price target on shares of Owens Corning from $135.00 to $150.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.82.
Check Out Our Latest Report on Owens Corning
Hedge Funds Weigh In On Owens Corning
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Groupama Asset Managment grew its position in Owens Corning by 4.2% in the 1st quarter. Groupama Asset Managment now owns 6,411 shares of the construction company's stock valued at $694,000 after buying an additional 258 shares in the last quarter. Lodge Hill Capital LLC grew its position in Owens Corning by 14.1% in the 1st quarter. Lodge Hill Capital LLC now owns 363,570 shares of the construction company's stock valued at $39,346,000 after buying an additional 45,000 shares in the last quarter. Janus Henderson Group PLC grew its position in Owens Corning by 51.9% in the 1st quarter. Janus Henderson Group PLC now owns 56,351 shares of the construction company's stock valued at $6,099,000 after buying an additional 19,251 shares in the last quarter. Oddo BHF Asset Management Sas bought a new position in Owens Corning in the 1st quarter valued at about $410,000. Finally, Bull Harbor Capital LLC bought a new position in Owens Corning in the 1st quarter valued at about $521,000. 88.40% of the stock is owned by institutional investors.
About Owens Corning
(
Get Free Report)
Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.
The company's core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.
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