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Fly News Breaks for May 27, 2015
OC
May 27, 2015 | 07:45 EDT
After the fourth largest roofing manufacturer, TAMKO, announced a 7% price increase for residential and commercial roofing products, Jefferies noted that TAMKO historically has been more aggressive on pricing than the market leaders and the firm believes the industry is showing much better pricing discipline. Jefferies thinks Owens Corning shares should work as long as shingle prices hold steady and keeps its Buy rating and $51 price target on the stock.
News For OC From the Last 2 Days
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Apr 25, 2024 | 09:32 EDT
Argus raised the firm's price target on Owens Corning to $182 from $175 and keeps a Buy rating on the shares. The analyst cites the company's Q1 earnings beat while noting that the composite and building materials demand is impacted by the changes in the housing and construction markets which have been strong in recent quarters. Argus adds that the company's balance sheet is clean, and the management has recently hiked the dividend by 15%, signaling confidence in the outlook and a commitment to shareholder returns.
OC
Apr 25, 2024 | 08:56 EDT
RBC Capital raised the firm's price target on Owens Corning to $192 from $175 and keeps an Outperform rating on the shares. The company's Q1 results saw another strong margin result in Roofing, with incremental pricing gains in Roofing/Insulation driving further upside while more than offsetting ongoing Composites weakness, the analyst tells investors in a research note. RBC adds that it continues to see strength supported by lean channel inventories and solid sell-through even as comps become more difficult.
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Apr 24, 2024 | 06:23 EDT
Sees Q2 EBIT margin 20%. Sees FY24 effective tax rate 24%-26%.
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Apr 24, 2024 | 06:12 EDT
Sees FY24 interest expense $70M-$80M; effective tax rate on adjusted earnings 24%-26%; capital additions $550M; and depreciation and amortization $550M.
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