This Stock Offers Investors Unmistakable Value in a Sky-High Market

Despite a stellar rise in its stock price this year, shares of Owens Corning (NYSE: OC) still offer investors a good value. While other areas of the stock market are starting to look expensive, Owens Corning's stock price rise has been backed by earnings guidance hikes and ongoing strategic improvements which are preparing the company for good long-term growth.

There are two key arguments that make it a good buy, which I'll go into in detail below:

Back in March Owens Corning looked like a good value, and despite a 44% increase in its stock price the following charts suggest it's still a good value now. As you can see below, its valuation is compelling on both an absolute and relative basis. (I'll outline why Home Depot and Lowe's Companies, Inc. (NYSE: LOW) are good comparisons shortly.)

Source: Fool.com