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Here's Why Owens Corning (OC) is a Strong Value Stock

Zacks Equity Research
·2 min read

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.

Why Investors Should Pay Attention to This Value Stock

Value investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, and Price/Cash Flow, the Value Style Score identifies the most attractive and most discounted stocks.

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Owens Corning (OC)

Owens Corning is a world leader in building materials systems and composite solutions. Since its inception in 1938, the company has evolved as a market-leading innovator of glass fiber technology. Its products include glass fiber that is used to support composite materials for transportation, electronics, marine, infrastructure, wind energy and other high-performance markets for insulation as well as roofing for residential, commercial and industrial applications.

OC is a Zacks Rank #1 (Strong Buy) stock, with a Value Style Score of B and VGM Score of B. Shares are currently trading at a forward P/E of 11.5X for the current fiscal year compared to the Building Products - Miscellaneous industry's P/E of 18.1X. Additionally, OC has a PEG Ratio of 5.3 and a Price/Cash Flow ratio of 8.3X. Value investors should also note OC's Price/Sales ratio of 1.6X.

Value investors don't just pay attention to a company's valuation ratios; positive earnings play a crucial role, too. One analyst revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.28 to $15.48 per share. OC has an average earnings surprise of 17.4%.

With strong valuation and earnings metrics, a good Zacks Rank, and top-tier Value and VGM Style Scores, investors should strongly think about adding OC to their portfolios.

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Owens Corning Inc (OC) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research