Owens Corning (NYSE:OC) saw an upside of 0.06% to close Friday at $134.81 after adding $0.08 on the day. The 5-day average trading volume is 743,280 shares of the company’s common stock. It has gained $139.29 in the past week and touched a new high 2 times within the past 5 days. An average of 847,865 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 812,124.
OC’s 1-month performance is -2.81% or -$1.07 on its low of $131.30 reached on 08/25/23. The company’s shares have touched a 52-week low of $74.22 and high of $147.00, with the stock’s rally to the 52-week high happening on 09/01/23. YTD, OC has achieved 58.04% or $49.51 and has reached a new high 45 times. However, the current price is down -8.29% from the 52-week high price.
Insider Transactions
OC stock investors last saw insider trading activity on Aug 23.Fister Todd W (President, Insulation) most recently sold 5,375 shares at $136.23 per share on Aug 23. This transaction cost the insider $732,236. Director, MORRIS W HOWARD, sold 1,033 shares at a price of $141.63 on Aug 07. Then, on Jun 07, Vice President and Controller Doerfler Mari sold 300 shares at a price of $117.91 per share. This transaction amounted to $35,373.
Valuation Metrics
OC stock has a beta of 1.48. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.25 while the price-to-book (PB) in the most recent quarter is 2.41, with the price to cash flow ratio at 12.72.
Owens Corning’s quick ratio for the period ended June 29 was 1.37, with the current ratio over the same period at 2.07. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.63, while the total debt to equity was 0.64. In terms of profitability, the gross margin trailing 12 months is 27.47%. The trailing 12-month EBITDA margin is 23.40% while for the period ending June 29, Owens Corning’s operating margin was 17.80%. The firm’s gross profit as reported stood at $2.62 billion against revenue of $9.76 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 0.58% to $345.0 million, while revenue of $383.0 million was -11.01% off the previous quarter. Analysts expected OC to announce $3.23 per share in earnings in its latest quarter, but it posted $4.22, representing a 30.70% surprise. EBITDA for the quarter stood at more than $646.0 million. OC stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 5.97 billion, with total debt at $3.26 billion. Shareholders hold equity totaling $89.83 million.
Let’s look briefly at Owens Corning (OC) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 September was 35.46% to suggest the stock is trending Neutral, with historical volatility in this time period at 21.43%.
The stock’s 5-day moving average is $136.01, reflecting a -1.45% or -$1.98 change from its current price. OC is currently trading -1.54% above its 20-day SMA, +27.08% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +1.01% and SMA200 by+51.68%.
Stochastic %K and %D was 10.98% and 15.47% and the average true range (ATR) pointed at 3.07. The RSI (14) points at 41.08%, while the 14-day stochastic is at 10.70% with the period’s ATR at 3.17. The stock’s 9-day MACD Oscillator is pointing at -1.88 and -3.94 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Owens Corning (NYSE: OC), Goldman upgraded it to a Neutral rating. They previously had a Sell rating on the stock. Analysts offering their rating for OC stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate OC as a “sell,”, while 9 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 7 have offered a “buy” rating.
What is OC’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $133.00 and a high of $185.00, with their median price target at $161.00. Looking at these predictions, the average price target given by analysts is for Owens Corning (OC) stock is $160.31.
