Last Updated: 19 Sep 2024
Executive Summary
Owens Corning Inc. (OC) is a leading manufacturer and marketer of fiberglass, roofing, and insulation composites. The company has a strong market position, with a wide range of products and a global presence. OC's financial performance has been solid in recent years, with strong revenue and earnings growth. The company's stock price has outperformed the broader market in the past year.
Company Overview
Owens Corning was founded in 1938 and is headquartered in Toledo, Ohio. The company has operations in over 30 countries and employs over 19,000 people. OC's products are used in a variety of applications, including residential and commercial construction, transportation, and industrial manufacturing.
Fundamental Analysis
OC's financial performance has been solid in recent years. The company's revenue has grown from $7.5 billion in 2018 to $9.9 billion in 2023. Net income has also increased significantly, from $832 million in 2018 to $1.2 billion in 2023.
OC's financial ratios are also strong. The company's gross profit margin is 26.9%, and its operating profit margin is 20.3%. OC's return on assets is 8.4%, and its return on equity is 19.9%.
Technical Analysis
OC's stock price has outperformed the broader market in the past year. The stock price has risen from $120.00 in June 2023 to $172.33 as of the latest closing price.
The stock's technical indicators are also bullish. The 50-day moving average is $167.60, and the 200-day moving average is $162.57. The relative strength index (RSI) is 62.32, which indicates that the stock is not overbought.
Short Term Outlook
The short-term outlook for OC's stock is positive. The company's financial performance is strong, and the stock price is trading above its moving averages. The RSI is also indicating that the stock is not overbought.
Long Term Outlook
The long-term outlook for OC's stock is also positive. The company is a leader in its industry, and it has a strong track record of financial performance. The company's products are used in a variety of applications, which gives it a wide range of growth opportunities.
Analyst Recommendations
Analysts are generally positive on OC's stock. The consensus analyst rating is "Buy," and the average analyst target price is $188.92.
Conclusion
Owens Corning Inc. is a strong company with a solid financial performance. The company's stock price has outperformed the broader market in the past year, and the technical indicators are bullish. The short-term and long-term outlook for OC's stock is positive.
