Owens Corning [OC] stock is trading at $155.56, up 3.09%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The OC shares have gain 3.86% over the last week, with a monthly amount glided 1.50%, and seem to be holding up well over a long-time horizon.
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On 14, February 2024, Owens Corning Delivers Full-Year Net Sales of $9.7 Billion; Generates Earnings of $1.2 Billion and Adjusted EBIT of $1.8 Billion. In a post published today on Yahoo Finance, Owens Corning (NYSE: OC), a global building and construction materials leader, today reported fourth-quarter and full-year 2023 results.
From an analyst’s perspective:
Owens Corning [NYSE: OC] stock has seen the most recent analyst activity on February 15, 2024, when Evercore ISI downgraded its rating to a In-line and also revised its price target to $154 from $163. Previously, Barclays downgraded its rating to Equal Weight on February 12, 2024, and dropped its price target to $160. On December 14, 2023, JP Morgan reiterated its Neutral rating and revised its price target to $161 on the stock. Deutsche Bank upgraded its rating to a Buy and increased its price target to $180 on December 08, 2023. Wells Fargo initiated its recommendation with a Equal Weight and recommended $143 as its price target on October 17, 2023. Goldman upgraded its rating to Neutral for this stock on September 07, 2023, and upped its price target to $150. In a note dated July 28, 2023, JP Morgan upgraded an Neutral rating on this stock and boosted its target price from $95 to $133.
Owens Corning [OC] stock has fluctuated between $88.86 and $160.18 over the past year. Currently, Wall Street analysts expect the stock to reach $102.73 within the next 12 months. Owens Corning [NYSE: OC] shares were valued at $155.56 at the most recent close of the market. An investor can expect a potential drop of -33.96% based on the average OC price forecast.
Analyzing the OC fundamentals
Owens Corning [NYSE:OC] reported sales of 9.68B for the trailing twelve months, which represents a growth of 0.83%. Gross Profit Margin for this corporation currently stands at 0.28% with Operating Profit Margin at 0.17%, Pretax Profit Margin comes in at 0.16%, and Net Profit Margin reading is 0.12%. To continue investigating profitability, this company’s Return on Assets is posted at 0.11, Equity is 0.24 and Total Capital is 0.18. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.63.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 153.05 points at the first support level, and at 150.55 for the second support level. However, for the 1st resistance point, the stock is sitting at 157.02, and for the 2nd resistance point, it is at 158.49.
Owens Corning [OC] reported earnings per share of $3.21 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $2.85/share, meaning a difference of $0.36 and a surprise factor of 12.60%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $4.15 per share as compared to estimates of $3.82 per share, a difference of $0.33 representing a surprise of 8.60%.
Ratios To Look Out For
For context, Owens Corning’s Current Ratio is 1.69. Also, the Quick Ratio is 1.17, while the Cash Ratio stands at 0.69. Considering the valuation of this stock, the price to sales ratio is 1.40, the price to book ratio is 2.63 and price to earnings (TTM) ratio is 11.86.
Transactions by insiders
Recent insider trading involved Smith Gunner, President, Roofing, that happened on Feb 14 ’24 when 7442.0 shares were sold. President, Roofing, Smith Gunner completed a deal on Feb 06 ’24 to sell 1447.0 shares. Meanwhile, President, Roofing Smith Gunner sold 657.0 shares on Feb 05 ’24.
