Owens Corning Inc (OC) : Traders are bullish on Owens Corning Inc (OC) as it has outperformed the S&P 500 by a wide margin of 2.22% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.53%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.86% in the last 1 week, and is up 2% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Company shares have received an average consensus rating of Hold for the current week The stock has recorded a twenty day Moving Average of 0.23% and the fifty day Moving Average is 1.61%. Owens Corning is up 5.25% in the last three month period. Year-to-Date the stock performance stands at 15.6%.
Owens Corning Inc (OC) has been rated by 9 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $63 and the lowest price target forecast is $42. The average forecast of all the analysts is $56.44 and the expected standard deviation is $6.84.
Owens Corning Inc (NYSE:OC): On Fridays trading session , Opening price of the stock was $54.41 with an intraday high of $54.69. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $53.47. However, the stock managed to close at $53.97, a loss of 0.41% for the day. On the previous day, the stock had closed at $54.19. The total traded volume of the day was 713,517 shares.
Owens Corning is a holding company. The Company is engaged in composite and building materials systems. The Companys products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind energy and other markets to insulation and roofing for residential, commercial and industrial applications. The Company operates under three segments: Composites, Insulation and Roofing. The Composites segment is comprised of the Companys Reinforcements and Downstream businesses. Insulation segment includes products, such as thermal and acoustical batts, loosefill insulation, foam sheathing and accessories. The Roofing segment includes products, such as laminate and strip asphalt roofing shingles. The Companys subsidiaries are Owens Corning Sales, LLC and Owens Corning Receivables LLC.