A share price of Owens Corning [OC] is currently trading at $166.14, up 3.42%. An important factor to consider is whether the stock is rising or falling in short-term value. The OC shares have gain 5.47% over the last week, with a monthly amount glided 15.64%, and seem to be holding up well over a long-time horizon.
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On 19, March 2024, Owens Corning Publishes 2023 Sustainability Report. In a post published today on Yahoo Finance, Owens Corning (NYSE:OC) today published its 2023 Sustainability Report, Making the Difference, outlining the company’s progress toward its 2030 sustainability goals.
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 experienced fluctuations in its stock price throughout the past year between $89.60 and $163.44. Currently, Wall Street analysts expect the stock to reach $102.73 within the next 12 months. Owens Corning [NYSE: OC] shares were valued at $166.14 at the most recent close of the market. An investor can expect a potential drop of -38.17% based on the average OC price forecast.
Analyzing the OC fundamentals
Trailing Twelve Months sales for Owens Corning [NYSE:OC] were 9.68B which represents 0.83% growth. 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 162.55 points at the first support level, and at 158.97 for the second support level. However, for the 1st resistance point, the stock is sitting at 168.39, and for the 2nd resistance point, it is at 170.65.
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
To put it in perspective, the Current Ratio for Owens Corning [NYSE:OC] is 1.69. On the other hand, the Quick Ratio is 1.17, and the Cash Ratio is 0.69. Considering the valuation of this stock, the price to sales ratio is 1.49, the price to book ratio is 2.80 and price to earnings (TTM) ratio is 12.67.
Transactions by insiders
Recent insider trading involved Mendez-Andino Jose, EVP, Chief R&D Officer, that happened on Mar 15 ’24 when 2833.0 shares were sold. EVP, Chief HR Officer, Russell Paula completed a deal on Mar 14 ’24 to sell 3765.0 shares. Meanwhile, President, Roofing Smith Gunner sold 7442.0 shares on Feb 14 ’24.
