In a report released yesterday, Matthew Bouley from Barclays maintained a Buy rating on Owens Corning (OC), with a price target of $50.00. The company’s shares closed last Wednesday at $44.82.
According to TipRanks.com, Bouley is a 4-star analyst with an average return of 5.8% and a 48.8% success rate. Bouley covers the Consumer Goods sector, focusing on stocks such as Mohawk Industries, Skyline Champion, and Taylor Morrison.
Owens Corning has an analyst consensus of Moderate Buy, with a price target consensus of $49.92.
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Based on Owens Corning’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.69 billion and net profit of $73 million. In comparison, last year the company earned revenue of $1.72 billion and had a net profit of $171 million.
Based on the recent corporate insider activity of 145 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OC in relation to earlier this year.
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Owens Corning engages in the development, manufacture, and marketing of insulation, roofing, and fiberglass composites. It operates through the following segments: Composites, Insulation and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber, and also includes vertically integrated downstream activities. The Insulation segment provides insulating products which help customers conserve energy; provide improved acoustical performance; and offer convenience of installation and use. The Roofing segment offers laminate and strip asphalt roofing shingles and other products including oxidized asphalt and roofing accessories. The company was founded on October 31, 1938 and is headquartered in Toledo, OH.
