- Owens Corning announces a robust new stock repurchase program.
- Analysts see a potential 17.79% upside in the stock.
- Current analyst recommendation leans towards "Outperform."
Owens Corning (OC, Financial) has taken a significant step to enhance shareholder value by authorizing a comprehensive stock repurchase plan for an additional 12 million shares. This move augments its current program, which still has 5.7 million shares available for buyback. Following this announcement, Owens Corning's shares saw a boost, climbing 0.92% to reach $143.92 during morning trading. The company has also announced plans to host its 2025 Investor Day, an event that promises to shed light on its strategic initiatives for the coming years.
Wall Street Analysts Forecast
Analysts remain optimistic about Owens Corning's stock trajectory. The one-year price targets from 15 seasoned analysts result in an average projection of $169.29. The forecasts range from a high of $218.00 to a low of $146.00, averaging an impressive 17.79% upside from the current trading price of $143.73. Investors seeking more detailed forecast data can explore the Owens-Corning Inc (OC, Financial) Forecast page on GuruFocus for additional insights.
In terms of broader market sentiment, the consensus recommendation from 19 brokerage firms positions Owens-Corning Inc (OC, Financial) at an average rating of 2.1. This indicates an "Outperform" stance on the stock, based on a scale where 1 is a "Strong Buy" and 5 is a "Sell." Such a rating suggests positive expectations for the company's performance in the near term.
According to GuruFocus estimates, the projected GF Value places Owens-Corning Inc (OC, Financial)'s one-year fair value at $156.19. This estimate reflects an anticipated upside of 8.67% from the current price of $143.725. The GF Value is a proprietary GuruFocus metric that calculates what the stock's fair trading price should be, considering its historical price multiples, past growth, and future business performance estimates. For more comprehensive data, investors are encouraged to visit the Owens-Corning Inc (OC) Summary page.
