Owens Corning Inc (OC) has been under a strong bear grip, hence the stock is down -2.97% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.61% in the past 1 week. The stock has risen by 1.04% in the past week indicating that the buyers are active at lower levels, but the stock is down -0.56% in the past 4 weeks.
Owens Corning Inc (NYSE:OC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $53.50 and $53.23 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $53.96. The buying momentum continued till the end and the stock did not give up its gains. It closed at $53.46, notching a gain of 0.51% for the day. The total traded volume was 1,519,068 . The stock had closed at $53.19 on the previous day.
The stock has recorded a 20-day Moving Average of 1.18% and the 50-Day Moving Average is 2.77%. Owens Corning is up 11.58% in the last 3-month period. Year-to-Date the stock performance stands at 14.51%.
Owens Corning Inc (OC) : Currently there are 9 street experts covering Owens Corning Inc (OC) stock. The most bullish and bearish price target for the stock is $63 and $42 respectively for the short term. The average price target of all the analysts comes to $56.22. The estimated standard deviation from the target is $6.89.
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.