The stock of Owens Corning (NYSE:OC) decreased by -$0.22 on Friday to finish at $141.18, down -0.16 percent. The last five days have seen an average of 704,160 shares of common stock traded. 42 times new highs were reached in the current year, with a gain of $55.88. The average number of shares traded over the last 20 days was 911,575, while the average volume over the last 50 days totaled 869,528.
OC stock appreciated 5.78% since last month. On 07/24/23, the company’s shares reached a one-month low of $129.26. The stock touched a high of $143.67 on 07/27/23, after rallying from a low of $74.22 in 52 weeks. The price of OC stock has risen by 65.51% or $55.88 this year, reaching a new high 42 times. Still, the stock price is down -1.73% from the 52-week high.
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Insider Transactions
OC stock investors should be aware that Owens Corning (OC) stock had its last reported insider trading activity 7 days ago on Aug 07. On Aug 07, Director MORRIS W HOWARD sold 1,033 shares at $141.63 each. This transaction resulted in the insider making $146,304. On Jun 07, Doerfler Mari sold 300 shares at a price of US$117.91. After the transaction, the insider now owns 4,873 shares. President, Roofing Smith Gunner had earlier sold 6,900 shares on Jun 06 for $115.01 a share. The transaction was completed for $793,569.
Valuation Metrics
Owens Corning (OC) has a trailing price-to-earnings (P/E) ratio of 10.02. Beta for the stock is 1.48. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.31, the price-to-book (PB) ratio of 2.55, and the price-to-cash flow ratio of 13.34.
Company paid $0.52 per share in dividends, remained unchanged from $0.52 last year. A $0.17 dividend increase was reported on Friday December 2 2022.
Financial Health
For the three months ended June 29, Owens Corning’s quick ratio was 1.40, while its current ratio was 2.10, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.60, and the total debt to equity ratio is 0.60. As far as profitability goes, gross margin for the trailing twelve months is 27.40% percent. Owens Corning’s EBITDA margin for the year ended June 29 was 23.40%, whereas its operating margin stood at 18.60% for the same period. Based on annual data, it had gross profit of $2.62 billion and revenue of $9.76 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. OC’s return on assets (ROA) during the last 12 months has been 12.20%. There was a 17.70% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 27.80%.
Earnings Surprise
According to Owens Corning’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $2.56 billion, while revenues fell by -1.48% to $2.33 billion. It was predicted that Owens Corning’s quarterly earnings would be $4.22, but it ended up being $3.23, beating the consensus by 30.70%. EBITDA was $646.0 million for the quarter. At the end of Owens Corning’s most recent quarter ended June 29, its liabilities totaled 5.97 billion, while its total debt was $3.26 billion. Equity owned by shareholders amounts to $89.83 million.
Technical Picture
Here’s a quick look at Owens Corning’s (OC) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 62.52%, suggesting the stock is Neutral, with a 11.81% historical volatility rate.
The stochastic %K and %D were 84.92% and 88.53% respectively, while the average true range (ATR) was 2.95. Based on the 14-day stochastic reading of 82.10%, the RSI (14) reading is 65.11%. On the 9-day MACD Oscillator, the stock is at -0.01, and the 14-day reading is at 1.36.
Analyst Ratings
In its most recent analyst report, JP Morgan raised its rating on Owens Corning (NYSE: OC) to a Neutral. Prior to this, analysts firm rated the stock as an Underweight. Analysts have assigned Owens Corning (OC) an Overweight rating. OC is a stock that is recommended for selling by 1 brokerage firm, while 9 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 7 others recommend it as a buy.
What is OC’s price target for the next 12 months?
The current consensus forecast for the stock is between $113.00 and $185.00, with a median target price of $160.00. In analyzing these forecasts, the average price target given by analysts for Owens Corning (OC) is $154.43.
