Owens Corning (NYSE:OC) Lowered to Hold at StockNews.com

Owens Corning (NYSE:OC) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Other equities research analysts also recently issued reports about the company. UBS Group boosted their target price on Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Evercore ISI lowered their target price on Owens Corning from $188.00 to $175.00 and set an “in-line” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada boosted their price target on shares of Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group reiterated a “neutral” rating and set a $187.00 price objective on shares of Owens Corning in a research report on Monday, June 17th. Finally, Barclays reduced their target price on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Owens Corning presently has a consensus rating of “Hold” and a consensus price target of $184.23.

Owens Corning Trading Down 1.1 %

Shares of OC opened at $172.55 on Tuesday. The firm has a market cap of $14.95 billion, a P/E ratio of 13.97, a price-to-earnings-growth ratio of 3.47 and a beta of 1.41. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. Owens Corning has a 1 year low of $109.95 and a 1 year high of $191.13. The company has a 50 day simple moving average of $167.28 and a two-hundred day simple moving average of $170.45.

Owens Corning (NYSE:OC) last posted its earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, beating the consensus estimate of $4.37 by $0.27. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. Owens Corning’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the company posted $4.22 earnings per share. On average, equities analysts expect that Owens Corning will post 15.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the sale, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the transaction, the insider now owns 60,130 shares in the company, valued at $10,222,100. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the sale, the insider now directly owns 57,079 shares of the company’s stock, valued at $10,074,443.50. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

Large investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in shares of Owens Corning by 7.5% during the 1st quarter. GAMMA Investing LLC now owns 1,104 shares of the construction company’s stock worth $184,000 after purchasing an additional 77 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Owens Corning by 24.9% in the 1st quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock valued at $65,000 after buying an additional 78 shares in the last quarter. MV Capital Management Inc. grew its position in shares of Owens Corning by 112.9% in the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after buying an additional 79 shares during the last quarter. Tobam raised its stake in shares of Owens Corning by 115.7% during the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after acquiring an additional 103 shares in the last quarter. Finally, Atlas Capital Advisors LLC raised its stake in shares of Owens Corning by 2.5% during the 2nd quarter. Atlas Capital Advisors LLC now owns 4,508 shares of the construction company’s stock worth $783,000 after acquiring an additional 112 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

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.