The Latest Breaking News from OC

Wells Fargo analyst Deepa Raghavan raised the price target on Owens Corning (NYSE:OC) to $105 (an upside of 7.6%) from $98 and maintained an Equal Weight rating on the shares. The analyst believes stock reaction is well deserved. Raghavan says that the shares' outperformance is likely reflective of strong outlooks, in keeping with recent themes…

Owens Corning (NYSE:OC) reported fourth-quarter FY21 net sales growth of 10.7% year-over-year to $2.13 billion, beating the consensus of $2.04 billion. Sales by segments: Composites $608 million (+11% Y/Y), Insulation $863 million (+19% Y/Y), and Roofing $712 million (+1% Y/Y). Adjusted EPS was $2.20 (+16% Y/Y), beating the consensus of $1.91. The gross margin…