As of Friday close, Owens Corning’s (NYSE:OC) stock was up $0.71, moving up 0.52 percent to $136.37. The average number of shares traded per day over the past five days has been 519,780 shares. 2 times new highs have been achieved over the past 5 days, with a -$4.81 fall in that time frame. In the last twenty days, the average volume was 832,395, while in the previous 50 days, it was 829,396.
Since last month, OC stock rose 4.18%. Shares of the company fell to $129.26 on 07/24/23, the lowest level in the past month. A 52-week high of $143.70 was reached on 08/15/23 after having rallying from a 52-week low of $74.22. Since the beginning of this year, OC’s stock price has risen by 59.87% or $51.07, and marked a new high 43 times. However, the stock has declined by -5.10% since its 52-week high.
OC stock investors should be aware that Owens Corning (OC) stock had its last reported insider trading activity 12 days ago on Aug 07. MORRIS W HOWARD, the Director of the company, disposed of 1,033 shares for $141.63 on Aug 07. It resulted in a $146,304 divestment by the insider. Doerfler Mari sold 300 shares at an average price of $117.91 on Jun 07. The insider now owns 4,873 shares following the transaction. On Jun 06, President, Roofing Smith Gunner sold 6,900 shares at $115.01 apiece. The transaction was valued at $793,569.
Valuation Metrics
Right now, Owens Corning (OC) has a P/E ratio of about 9.67. The stock’s beta is 1.48. Besides these, the trailing price-to-sales (P/S) ratio of 1.26, the price-to-book (PB) ratio of 2.46, and the price-to-cash flow ratio of 12.89 may also be considered.
The latest dividend of $0.52 per share was paid out, remained unchanged from last year’s $0.52. On Friday December 2 2022, a $0.17 dividend increase was announced.
Financial Health
In the three months ended June 29, Owens Corning’s quick ratio stood at 1.40, while its current ratio was 2.10, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.60, and the total debt-to-equity ratio was 0.60. On the profitability front, the trailing twelve-month gross margin is 27.40% percent. In the year ended June 29, EBITDA margin amounted to 23.40%, whereas operating margins totaled 18.60%. Based on annual data, OC earned $2.62 billion in gross profit and brought in $9.76 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 17.70%. Return on equity (ROE) for the past 12 months was 27.80%.
In Owens Corning’s quarter-end financial report for June 29, it reported total debt of $3.0 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. OC’s revenue fell -1.48% to $2.33 billion during the quarter, while net income inched up to $2.56 billion. While analysts expected Owens Corning to report $3.23 quarterly earnings, the actual figure was $4.22 per share, beating the consensus estimate by 30.70%. During the quarter, the company generated $646.0 million in EBITDA. The liabilities of Owens Corning were 5.97 billion at the end of its most recent quarter ended June 29, and its total debt was $3.26 billion. The value of shareholders’ equity is $89.83 million.
Technical Picture
This quick technical analysis looks at Owens Corning’s (OC) price momentum. With a historical volatility rate of 18.59%, the RSI 9-day stood at 39.28% on 18 August.
With respect to its five-day moving average, the current Owens Corning price is down by -3.41% percent or -$4.81. At present, OC shares trade +4.64% above its 20-day simple moving average and +49.54% percent above its 100-day simple moving average. However, the stock is currently trading approximately +16.12% above its SMA50 and +59.29% above its SMA200.
Stochastic coefficient K was 19.06% and Stochastic coefficient D was 37.92%, while ATR was 3.05. Given the Stochastic reading of 15.55% for the 14-day period, the RSI (14) reading has been calculated as 48.14%. As of today, the MACD Oscillator reading stands at -3.00, while the 14-day reading stands at -3.31.
Analyst Ratings
JP Morgan upgraded its rating on Owens Corning (NYSE: OC) to a Neutral in a note to investors on July 28, 2023. The analysts firm previously had an Underweight rating on the stock.Owens Corning (OC) has been rated Overweight by analysts. According to 1 brokerage firm, OC is a sell, and 9 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Owens Corning stock as buy, with 7 recommending it as overweight.
With a median target price of $160.00, the current consensus forecast for the stock is $113.00 – $185.00. Based on these forecasts, analysts predict Owens Corning (OC) will achieve an average price target of $154.43.
