Owens Corning (OC) Ascends While Market Falls: Some Facts to Note

In the latest market close, Owens Corning (OC) reached $187.92, with a +0.08% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.29%. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 0.5%.The construction materials company's shares have seen an increase of 8.87% over the last month, surpassing the Construction sector's gain of 4.49% and the S&P 500's gain of 2.52%.The investment community will be closely monitoring the performance of Owens Corning in its forthcoming earnings report. It is anticipated that the company will report an EPS of $2.85, marking a 11.21% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $2.78 billion, indicating a 20.53% upward movement from the same quarter last year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Owens Corning. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.59% higher. Owens Corning currently has a Zacks Rank of #2 (Buy).Looking at its valuation, Owens Corning is holding a Forward P/E ratio of 11.85. This signifies a discount in comparison to the average Forward P/E of 18.14 for its industry.One should further note that OC currently holds a PEG ratio of 2.05. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Building Products - Miscellaneous industry held an average PEG ratio of 1.93.The Building Products - Miscellaneous industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 182, placing it within the bottom 28% of over 250 industries.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Owens Corning Inc (OC): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks