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7 Home-Related Stocks to Watch

4. Owens Corning is a manufacturer of glass fiber reinforcements and building materials for residential and commercial use.

During the second quarter of 2011, net sales grew 5.3% to $1.45 billion from $1.37 billion in the second quarter of 2010. Earnings before taxes were $107 million compared with $94 million in the second quarter of 2010.

Commenting on the financials, Mike Thaman, Owens Corning⿿s CEO, said, "Given the performance of our portfolio, we have increased our 2011 estimate for EBIT to $500 million or more. This translates into adjusted earnings per share growth of more than 40% vs. 2010.⿝

On average, analysts expect the stock to rise to $44.80 in the next 12 months, 55% greater than current levels. Fifty-seven percent of analysts have buy ratings on the stock, which is trading with a P/E of 10, based on 2012 earnings estimates.

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