Owens Corning (NYSE:OC) shares, rose in value on Friday, November 01, with the stock price up by 2.01% to the previous day’s close as strong demand from buyers drove the stock to $180.34.
Actively observing the price movement in the last trading, the stock closed the session at $176.79, falling within a range of $177.73 and $182.49. The value of beta (5-year monthly) was 1.404 whereas the PE ratio was 15.27 over 12-month period. Referring to stock’s 52-week performance, its high was $191.44, and the low was $112.32. On the whole, OC has fluctuated by 4.58% over the past month.
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With the market capitalization of Owens Corning currently standing at about $15.68 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2024-Nov-06. The company’s Forward Dividend Ratio is 2.40, with its dividend yield at 1.33%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 11.01B, with a low estimate of 3.02B and a high estimate of 3.09B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 3.04B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that OC’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 2.88, with the price of OC currently trading nearly -1.50% and 3.53% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 50.72, while the 7-day volatility ratio is showing 2.37% which for the 30-day chart, stands at 2.72%. Furthermore, Owens Corning (OC)’s beta value is 1.41, and its average true range (ATR) is 5.05.
A comparison of Owens Corning (OC) with its peers suggests the former has fared considerably weaker in the market. OC showed an intraday change of 2.01% in last session, and over the past year, it grew by 55.72%%.
Data on historical trading for Owens Corning (NYSE:OC) indicates that the trading volumes over the past 10 days have averaged 0.66 and over the past 3 months, they’ve averaged 726.56K. According to company’s latest data on outstanding shares, there are 87.20 million shares outstanding.
Nearly 1.00% of Owens Corning’s shares belong to company insiders and institutional investors own 94.03% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 1.63 million shares as on 2024-10-15, resulting in a short ratio of 2.15. According to the data, the short interest in Owens Corning (OC) stood at 246.00 of shares outstanding as of 2024-10-15; the number of short shares registered in 2024-09-13 reached 1.57 million. The stock has risen by 21.66% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the OC stock heading into the next quarter.
