Owens Corning (NYSE:OC): This building products maker as its on the rise. The shares are trading at 96.71, +1.9% at press time, and have a consensus price target of 114.86.
OC broke out on 23 August at 92.51 and confirmed on on 24 August at 94.95. Thus, posting an LTN Cash Pile Buy signal with a 1yr price target at 120.70/share.
The stock is oversold in here and the Key indicator has turned Very Bullish, the Key support is at 93.84 and the Key resistance is at 99.59. The 23 August DOJI indicates a further move North.
Owens Corning manufactures and markets a range of insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, and internationally.
OC operates in 3 segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.
Its products are used in pipe, roofing shingles, sporting goods, consumer electronics, telecommunications cables, boats, aviation, automotive, industrial containers, and wind-energy applications in the building and construction, transportation, consumer, industrial, and power and energy markets.
The Insulation segment manufactures and sells fiberglass insulation for residential, commercial, industrial, and other markets for thermal and acoustical applications; and manufactures and sells glass fiber pipe insulation, flexible duct media, bonded and granulated mineral fiber insulation, cellular glass insulation, and foam insulation used in construction applications.
This segment sells its products primarily to the insulation installers, home centers, lumberyards, retailers, and distributors under the Thermafiber, FOAMULAR, FOAMGLAS, Paroc, Owens Corning PINK, and FIBERGLAS Insulation brand names. The Roofing segment manufactures and sells residential roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications, as well as synthetic packaging materials.
This segment sells its products through distributors, home centers, lumberyards, retailers, and contractors, as well as to roofing contractors for built-up roofing asphalt systems; and manufacturers in automotive, chemical, rubber, and construction industries.
Owens Corning was incorporated in Y 1938 and is HQ’d in Toledo, Ohio.
Have a prosperous day, Keep the Faith!
