Published on 6 May 2024 on Zacks via Yahoo Finance
Owens Corning Inc (OC) Hit a 52 Week High, Can the Run Continue?
Shares of Owens Corning (OC) have been strong performers lately, with the stock up 1.3% over the past month. The stock hit a new 52-week high of $178.24 in the previous session. Owens Corning has gained 17.9% since the start of the year compared to the 8.8% move for the Zacks Construction sector and the 10% return for the Zacks Building Products - Miscellaneous industry.
What's Driving the Outperformance?
The stock has an impressive record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on April 24, 2024, Owens Corning reported EPS of $3.59 versus consensus estimate of $3.04 while it beat the consensus revenue estimate by 2.97%.