Owens Corning (NYSE:OC) PT Lowered to $189.00

Owens Corning (NYSE:OC) had its target price reduced by Barclays from $190.00 to $189.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the construction company’s stock. Barclays‘s price objective would suggest a potential upside of 5.23% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. Loop Capital upped their price target on shares of Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Jefferies Financial Group assumed coverage on shares of Owens Corning in a research note on Wednesday, May 22nd. They set a “buy” rating and a $215.00 target price for the company. UBS Group increased their price target on Owens Corning from $169.00 to $192.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. The Goldman Sachs Group reissued a “neutral” rating and issued a $187.00 target price on shares of Owens Corning in a research report on Monday, June 17th. Finally, Royal Bank of Canada boosted their target price on shares of Owens Corning from $192.00 to $201.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $180.50.

Owens Corning Stock Performance

OC stock traded up $4.45 on Friday, reaching $179.60. The company’s stock had a trading volume of 98,757 shares, compared to its average volume of 655,234. Owens Corning has a 52 week low of $109.95 and a 52 week high of $184.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 1.22. The company has a market capitalization of $15.56 billion, a P/E ratio of 14.54, a price-to-earnings-growth ratio of 4.98 and a beta of 1.42. The firm has a fifty day moving average of $175.51 and a two-hundred day moving average of $162.76.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.55. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the prior year, the business posted $2.77 earnings per share. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, analysts predict that Owens Corning will post 15.48 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Monaco Nicolas Del sold 3,423 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $176.47, for a total value of $604,056.81. Following the completion of the sale, the insider now owns 11,381 shares in the company, valued at $2,008,405.07. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Todd W. Fister sold 3,000 shares of the stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total value of $520,950.00. Following the completion of the transaction, the chief financial officer now owns 31,626 shares in the company, valued at approximately $5,491,854.90. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Monaco Nicolas Del sold 3,423 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $176.47, for a total transaction of $604,056.81. Following the transaction, the insider now directly owns 11,381 shares of the company’s stock, valued at $2,008,405.07. The disclosure for this sale can be found here. Insiders have sold a total of 19,360 shares of company stock valued at $3,437,315 in the last three months. Company insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

A number of institutional investors have recently added to or reduced their stakes in OC. Comerica Bank acquired a new position in Owens Corning in the third quarter valued at about $5,837,000. B. Riley Wealth Advisors Inc. bought a new stake in Owens Corning during the 3rd quarter worth approximately $250,000. VisionPoint Advisory Group LLC increased its holdings in Owens Corning by 53.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company’s stock valued at $35,000 after purchasing an additional 88 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in Owens Corning by 87.4% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 31,865 shares of the construction company’s stock valued at $4,347,000 after purchasing an additional 14,864 shares during the last quarter. Finally, Anchor Investment Management LLC acquired a new position in Owens Corning in the fourth quarter worth $248,000. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Company Profile

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.