Owens Corning [OC] Stock trading around $73.60 per share: What’s Next?

Owens Corning [NYSE: OC] stock went on an upward path that rose over 1.15% on Tuesday, amounting to a one-week price increase of more than 8.83%. The company report on October 6, 2020 that Owens Corning to Announce Third-Quarter 2020 Financial Results on October 28.

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Owens Corning (NYSE: OC) is scheduled to announce third-quarter 2020 financial results on Wednesday, October 28, 2020, before the New York Stock Exchange opens. The company will host a call to discuss its financial results at 9 a.m. ET the same day.

Over the last 12 months, OC stock rose by 21.25%. The one-year Owens Corning stock forecast points to a potential downside of -0.22. The average equity rating for OC stock is currently 2.40, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $7.84 billion, with 108.60 million shares outstanding and 105.90 million shares in the current float. Compared to the average trading volume of 896.25K shares, OC stock reached a trading volume of 1223444 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Owens Corning [OC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OC shares is $73.44 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OC stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Benchmark Company have made an estimate for Owens Corning shares, keeping their opinion on the stock as Hold, with their previous recommendation back on July 21, 2020. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Neutral. The new note on the price target was released on May 28, 2020, representing the official price target for Owens Corning stock. Previously, the target price had yet another drop from $75 to $51, while The Benchmark Company kept a Buy rating on OC stock. On April 16, 2020, analysts decreased their price target for OC shares from 77 to 42.

The Average True Range (ATR) for Owens Corning is set at 2.35, with the Price to Sales ratio for OC stock in the period of the last 12 months amounting to 1.15. The Price to Book ratio for the last quarter was 2.21, with the Price to Cash per share for the same quarter was set at 5.47. Price to Free Cash Flow for OC in the course of the last twelve months was 15.49 with Quick ratio for the last quarter at 1.20.

OC Stock Performance Analysis:

Owens Corning [OC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.83. With this latest performance, OC shares gained by 11.53% in over the last four-week period, additionally plugging by 91.67% over the last 6 months – not to mention a rise of 21.25% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OC stock in for the last two-week period is set at 68.19, with the RSI for the last a single of trading hit 73.93, and the three-weeks RSI is set at 65.18 for Owens Corning [OC]. The present Moving Average for the last 50 days of trading for this stock 66.94, while it was recorded at 71.10 for the last single week of trading, and 56.26 for the last 200 days.

Insight into Owens Corning Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Owens Corning [OC] shares currently have an operating margin of +11.77 and a Gross Margin at +22.74. Owens Corning’s Net Margin is presently recorded at +5.66.

Return on Total Capital for OC is now 10.82, given the latest momentum, and Return on Invested Capital for the company is 5.26. Return on Equity for this stock inclined to 9.09, with Return on Assets sitting at 4.10. When it comes to the capital structure of this company, Owens Corning [OC] has a Total Debt to Total Equity ratio set at 69.03. Additionally, OC Total Debt to Total Capital is recorded at 40.84, with Total Debt to Total Assets ending up at 31.95. Long-Term Debt to Equity for the company is recorded at 67.46, with the Long-Term Debt to Total Capital now at 39.91.

Reflecting on the efficiency of the workforce at the company, Owens Corning [OC] managed to generate an average of $21,316 per employee. Receivables Turnover for the company is 9.16 with a Total Asset Turnover recorded at a value of 0.72.Owens Corning’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.90.

OC Stock EPS

With the latest financial reports released by the company, Owens Corning posted 1.63/share EPS, while the average EPS was predicted by analysts to be reported at 1.49/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 9.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Owens Corning go to 7.57%.

Owens Corning [OC] Insider Position Details

There are presently around $7,608 million, or 99.30% of OC stock, in the hands of institutional investors. The top three institutional holders of OC stocks are: BLACKROCK INC. with ownership of 11,493,085, which is approximately -0.548% of the company’s market cap and around 1.30% of the total institutional ownership; VANGUARD GROUP INC, holding 10,620,317 shares of the stock with an approximate value of $781.65 million in OC stocks shares; and BOSTON PARTNERS, currently with $615.91 million in OC stock with ownership of nearly -9.208% of the company’s market capitalization.

Positions in Owens Corning stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 205 institutional holders increased their position in Owens Corning [NYSE:OC] by around 10,617,448 shares. Additionally, 203 investors decreased positions by around 11,014,779 shares, while 42 investors held positions by with 81,731,804 shares. The mentioned changes placed institutional holdings at 103,364,031 shares, according to the latest SEC report filing. OC stock had 78 new institutional investments in for a total of 2,944,120 shares, while 49 institutional investors sold positions of 2,417,925 shares during the same period.

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