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In a challenging market environment, Owens Corning (NYSE:OC) stock has touched a 52-week low, dipping to $148.9. The company, known for its comprehensive range of insulation, roofing, and fiberglass composite materials, has faced headwinds that have pressured its stock price over the past year, culminating in this recent low point. With a market capitalization of $12.8 billion and annual revenue of $11 billion, the company maintains strong fundamentals. InvestingPro analysis indicates the stock is trading at Fair Value, with technical indicators suggesting oversold conditions. Despite the broader market’s volatility, Owens Corning has experienced a relatively modest 1-year change, with its stock value actually gaining 2.65%. Investors are closely monitoring the stock as it navigates through the current economic landscape, which has been marked by rising interest rates and supply chain uncertainties. InvestingPro subscribers have access to 13 additional exclusive insights about Owens Corning, including detailed analysis of its financial health score of GOOD and comprehensive valuation metrics.
In other recent news, Owens Corning reported its fourth-quarter 2024 earnings, surpassing analyst expectations with an adjusted EPS of $3.22, compared to the forecasted $2.90, and revenue of $2.84 billion against the projected $2.78 billion. The company experienced a year-over-year revenue growth of 23% in the quarter, driven by strategic acquisitions and expansions in manufacturing capabilities. Owens Corning also announced the sale of its Glass Reinforcements business, which has been transitioned to discontinued operations, impacting earnings forecasts. RBC Capital Markets maintained an Outperform rating on Owens Corning but lowered the price target from $224.00 to $212.00, citing adjustments in fiscal year 2025 earnings expectations due to the business transition and ongoing challenges in the Doors segment. Despite these adjustments, RBC Capital remains optimistic about Owens Corning’s financial strategy and operational performance, highlighting strong free cash flow and anticipated proceeds from the sale. Meanwhile, Benchmark analysts maintained a Hold rating on Owens Corning, noting the company’s robust fourth-quarter performance but adjusting EPS estimates downward by $2.00 for the current and following year, considering the sale of the glass reinforcements business. These developments reflect a mixed outlook for Owens Corning, with strong financial results tempered by strategic shifts and market challenges.
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