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

Zacks Equity Research
·2-min read

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Is This 1 Momentum Stock a Screaming Buy Right Now?

For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

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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 sits at a Zacks Rank #1 (Strong Buy), holds a Momentum Style Score of B, and has a VGM Score of B. The stock is down 2.2% and up 0.4% over the past one-week and four-week period, respectively, and Owens Corning has gained 46.8% in the last one-year period as well. Additionally, an average of 561,939.69 shares were traded over the last 20 trading sessions.

Momentum investors also pay close attention to a company's earnings. For OC, one analyst revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $1.79 to $15.48 per share for 2024. OC boasts an average earnings surprise of 17.4%.

Investors should take the time to consider OC for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.

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Owens Corning Inc (OC) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research