Owens Corning (NYSE:OC) Price Target Cut to $207.00 by Analysts at Citigroup

Owens Corning (NYSE:OC) had its target price lowered by stock analysts at Citigroup from $212.00 to $207.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Citigroup’s target price would suggest a potential upside of 21.00% from the stock’s previous close.

A number of other research firms have also recently weighed in on OC. UBS Group lifted their price objective on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Barclays raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $192.00 to $245.00 in a report on Wednesday, December 11th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Evercore ISI lifted their target price on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group increased their price target on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $202.17.

Owens Corning Stock Performance

NYSE:OC traded down $0.37 during trading hours on Monday, reaching $171.08. The company had a trading volume of 240,477 shares, compared to its average volume of 455,620. The firm has a market cap of $14.68 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 2.14 and a beta of 1.46. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The firm’s 50 day moving average price is $187.98 and its 200-day moving average price is $177.38. Owens Corning has a 52 week low of $138.70 and a 52 week high of $214.53.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period last year, the firm earned $4.15 earnings per share. The company’s quarterly revenue was up 22.9% on a year-over-year basis. On average, analysts forecast that Owens Corning will post 15.46 EPS for the current year.

Insider Transactions at Owens Corning

In related news, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the sale, the insider now owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.89% of the company’s stock.

Institutional Trading of Owens Corning

Large investors have recently made changes to their positions in the business. Alpha DNA Investment Management LLC grew its position in Owens Corning by 147.4% in the third quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock worth $754,000 after acquiring an additional 2,544 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Owens Corning by 53.3% in the 3rd quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock worth $832,000 after purchasing an additional 1,643 shares during the period. Atria Investments Inc increased its position in shares of Owens Corning by 93.3% during the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock valued at $2,330,000 after purchasing an additional 6,373 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in Owens Corning during the 3rd quarter valued at $1,046,000. Finally, Retirement Systems of Alabama boosted its stake in Owens Corning by 3.1% during the third quarter. Retirement Systems of Alabama now owns 196,672 shares of the construction company’s stock worth $34,717,000 after buying an additional 5,916 shares during the period. 88.40% of the stock is currently owned by institutional investors.

About Owens Corning

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.