US stock futures muted with Jackson Hole, retail earnings on tap
In a challenging market environment, Owens Corning (NYSE:OC) stock has touched a 52-week low, dipping to $137.35. According to InvestingPro data, the company maintains a strong financial health score of "GOOD" and currently trades below its Fair Value, suggesting potential upside opportunity. This price level reflects a significant downturn from the company’s performance over the past year, with Owens Corning experiencing a 1-year change of -19.76%. Investors are closely monitoring the stock as it navigates through market pressures, with analyst price targets ranging from $165 to $235. InvestingPro has identified 12 additional key insights about Owens Corning, including management’s aggressive share buybacks and consistent dividend payments. Discover the complete analysis in the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Owens Corning delivered strong fourth-quarter results for 2024, surpassing consensus expectations in revenue, EBITDA, and earnings per share (EPS). The company’s performance was bolstered by continued demand for shingles, although the repair and remodel and new construction sectors faced challenges. Additionally, Owens Corning has terminated its trade receivables securitization program, marking a shift in its financial management practices. Evercore ISI has adjusted its financial outlook for Owens Corning, raising the price target to $185 while maintaining an In Line rating. This adjustment reflects revised sales estimates for the Roofing segment and a reevaluation of corporate expenses. Meanwhile, RBC Capital Markets maintained an Outperform rating but reduced the price target to $212, citing a transition in the Glass Reinforcements business and challenges in the Doors segment. Owens Corning also announced the promotion of Gina Beredo to Executive Vice President, Chief Administrative Officer, and General Counsel, reflecting the company’s focus on strategic leadership alignment. Benchmark analysts have maintained a Hold rating, keeping their price target unchanged but revising EPS estimates downward due to market conditions and the sale of the glass reinforcements business.
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