For Owens Corning [OC], Analyst sees a drop to $79. What next?

Owens Corning [NYSE: OC] gained 0.96% on the last trading session, reaching $88.23 price per share at the time. The company report on December 20, 2022 that Owens Corning Earns Place on Dow Jones Sustainability World Index for 13th Consecutive Year.

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Owens Corning (NYSE:OC) has earned a place on the Dow Jones Sustainability World Index (DJSI World) for the 13th consecutive year, and on the DJSI North America Index for the fifth consecutive year, with industry-leading assessment scores.

The DJSI World comprises an elite listing of the world’s largest companies based on long-term environmental, social, and governance criteria. Companies are selected for inclusion in the DJSI in part based on their scores in the S&P Global Corporate Sustainability Assessment (CSA). Owens Corning scored 88 out of a possible 100 points overall in the 2022 S&P Global CSA (score date: Dec. 9, 2022), achieving the highest score out of 71 companies assessed in the building products industry.

Owens Corning represents 96.30 million in outstanding shares, while the company has a total market value of $8.17 billion with the latest information. OC stock price has been found in the range of $86.835 to $88.35.

If compared to the average trading volume of 1.09M shares, OC reached a trading volume of 286937 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $100.47 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 2.60. 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.

JP Morgan have made an estimate for Owens Corning shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on December 20, 2022. While these analysts kept the previous recommendation, BofA Securities raised their target price from $82 to $95. The new note on the price target was released on October 18, 2022, representing the official price target for Owens Corning stock. Previously, the target price had yet another raise to $103, while Deutsche Bank analysts kept a Hold rating on OC stock. On June 17, 2022, analysts decreased their price target for OC shares from 119 to 80.

The Average True Range (ATR) for Owens Corning is set at 2.62, with the Price to Sales ratio for OC stock in the period of the last 12 months amounting to 0.85. The Price to Book ratio for the last quarter was 1.83, with the Price to Cash per share for the same quarter was set at 8.11. Price to Free Cash Flow for OC in the course of the last twelve months was 10.07 with Quick ratio for the last quarter at 1.10.

Trading performance analysis for OC stock

Owens Corning [OC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.18. With this latest performance, OC shares dropped by -3.19% in over the last four-week period, additionally plugging by 14.60% over the last 6 months – not to mention a drop of -0.68% 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 46.15, with the RSI for the last a single of trading hit 42.43, and the three-weeks RSI is set at 48.46 for Owens Corning [OC]. The present Moving Average for the last 50 days of trading for this stock 88.27, while it was recorded at 87.87 for the last single week of trading, and 87.23 for the last 200 days.

Owens Corning [OC]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Owens Corning [OC] shares currently have an operating margin of +16.12 and a Gross Margin at +26.08. Owens Corning’s Net Margin is presently recorded at +11.71.

Return on Equity for this stock inclined to 24.28, with Return on Assets sitting at 10.21.

Owens Corning’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.80.

Owens Corning [OC]: An earnings per share (EPS) analysis

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 7.40%.

An analysis of insider ownership at Owens Corning [OC]

There are presently around $7,953 million, in the hands of institutional investors. The top three institutional holders of OC stocks are: BLACKROCK INC. with ownership of 12,768,026, which is approximately 6.716% of the company’s market cap and around 0.60% of the total institutional ownership; VANGUARD GROUP INC, holding 9,715,972 shares of the stock with an approximate value of $857.24 million in OC stocks shares; and STATE STREET CORP, currently with $379.54 million in OC stock with ownership of nearly 3.742% of the company’s market capitalization.

Positions in Owens Corning stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 228 institutional holders increased their position in Owens Corning [NYSE:OC] by around 6,517,159 shares. Additionally, 254 investors decreased positions by around 7,399,745 shares, while 70 investors held positions by with 76,228,058 shares. The mentioned changes placed institutional holdings at 90,144,962 shares, according to the latest SEC report filing. OC stock had 67 new institutional investments in for a total of 1,069,591 shares, while 50 institutional investors sold positions of 1,084,830 shares during the same period.

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