Trade-Ideas LLC identified Owens-Corning ( OC) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Owens-Corning as such a stock due to the following factors:

  • OC has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $53.5 million.
  • OC has traded 4,674 shares today.
  • OC is trading at a new lifetime high.

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More details on OC:

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential and commercial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The stock currently has a dividend yield of 1.4%. OC has a PE ratio of 17. Currently there are 5 analysts that rate Owens-Corning a buy, 1 analyst rates it a sell, and 6 rate it a hold.

The average volume for Owens-Corning has been 1.3 million shares per day over the past 30 days. Owens-Corning has a market cap of $6.1 billion and is part of the industrial goods sector and materials & construction industry. The stock has a beta of 0.91 and a short float of 4.7% with 5.40 days to cover. Shares are up 11.8% year-to-date as of the close of trading on Tuesday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Owens-Corning as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and reasonable valuation levels. We feel its strengths outweigh the fact that the company shows low profit margins.

Highlights from the ratings report include:
  • Looking at where the stock is today compared to one year ago, we find that it is not only higher, but it has also clearly outperformed the rise in the S&P 500 over the same period. Although other factors naturally played a role, the company's strong earnings growth was key. Looking ahead, unless broad bear market conditions prevail, we still see more upside potential for this stock, despite the fact that it has already risen over the past year.
  • OWENS CORNING reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past year. We feel that this trend should continue. During the past fiscal year, OWENS CORNING increased its bottom line by earning $2.79 versus $1.91 in the prior year. This year, the market expects an improvement in earnings ($3.05 versus $2.79).
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Building Products industry. The net income increased by 216.7% when compared to the same quarter one year prior, rising from $18.00 million to $57.00 million.
  • Despite its growing revenue, the company underperformed as compared with the industry average of 10.9%. Since the same quarter one year prior, revenues slightly increased by 2.3%. Growth in the company's revenue appears to have helped boost the earnings per share.

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