Tuesday, December 1, 2020

Market cap of Owens Corning [OC] reaches 7.81B – now what?

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Owens Corning [NYSE: OC] closed the trading session at $72.44 on 10/21/20. The day’s price range saw the stock hit a low of $70.69, while the highest price level was $73.91. The company report on October 7, 2020 that Owens Corning Announces “Aged Copper” as 2021 Shingle Color of the Year.

Shingle integrates nature-inspired hues with powerful performance technology.


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Owens Corning (NYSE:OC) today announced Aged Copper as the 2021 Shingle Color of the Year and the fifth shingle in the Owens Corning® TruDefinition® Duration® Designer Colors Collection to receive this designation.

The stocks have a year to date performance of 11.24 percent and weekly performance of -3.58 percent. The stock has been moved at 96.47 percent over the last six months. The stock has performed 6.11 percent around the most recent 30 days and changed 18.37 percent over the most recent 3-months.

If compared to the average trading volume of 875.20K shares, OC reached to a volume of 1251778 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 $75.65 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 2.30. 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 Buy, with their previous recommendation back on October 13, 2020. The new note on the price target was released on July 21, 2020, representing the official price target for Owens Corning stock. Previously, the target price had yet another raise to $48, while Credit Suisse analysts kept a Neutral rating on OC stock. On May 04, 2020, analysts decreased their price target for OC shares from 75 to 51.

The Average True Range (ATR) for Owens Corning is set at 2.14, 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 2.17, with the Price to Cash per share for the same quarter was set at 5.40. Price to Free Cash Flow for OC in the course of the last twelve months was 15.44 with Quick ratio for the last quarter at 1.20.

OC stock trade performance evaluation

Owens Corning [OC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.58. With this latest performance, OC shares gained by 6.11% in over the last four-week period, additionally plugging by 96.47% over the last 6 months – not to mention a rise of 14.31% 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 51.68, with the RSI for the last a single of trading hit 46.20, and the three-weeks RSI is set at 56.20 for Owens Corning [OC]. The present Moving Average for the last 50 days of trading for this stock 69.37, while it was recorded at 74.24 for the last single week of trading, and 56.79 for the last 200 days.

Owens Corning [OC]: An insightful look at the core fundamentals

Owens Corning’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.90.

Earnings per share (EPS) analysis for Owens Corning [OC] stock

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 Ownership positions

There are presently around $7,478 million, or 99.10% 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 0.60% of the total institutional ownership; VANGUARD GROUP INC, holding 10,620,317 shares of the stock with an approximate value of $769.34 million in OC stocks shares; and BOSTON PARTNERS, currently with $606.2 million in OC stock with ownership of nearly -9.208% of the company’s market capitalization.

206 institutional holders increased their position in Owens Corning [NYSE:OC] by around 10,559,983 shares. Additionally, 207 investors decreased positions by around 11,026,194 shares, while 38 investors held positions by with 81,640,169 shares. The mentioned changes placed institutional holdings at 103,226,346 shares, according to the latest SEC report filing. OC stock had 73 new institutional investments in for a total of 2,923,260 shares, while 48 institutional investors sold positions of 2,417,272 shares during the same period.

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