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

Owens Corning (NYSE:OC) had its price objective lifted by equities research analysts at Evercore ISI from $175.00 to $189.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “in-line” rating on the construction company’s stock. Evercore ISI’s price objective suggests a potential upside of 0.84% from the stock’s previous close.

Several other research analysts have also weighed in on the stock. Citigroup raised shares of Owens Corning from a “neutral” rating to a “buy” rating and increased their target price for the stock from $178.00 to $191.00 in a research note on Thursday, July 11th. Barclays lowered their target price on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. StockNews.com cut Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Loop Capital increased 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. Finally, Royal Bank of Canada boosted their price target on Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $187.77.

Owens Corning Trading Down 0.3 %

Shares of Owens Corning stock opened at $187.42 on Wednesday. The stock has a market cap of $16.24 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 3.62 and a beta of 1.41. The firm has a fifty day moving average price of $169.40 and a 200 day moving average price of $171.75. Owens Corning has a 1 year low of $109.95 and a 1 year high of $191.44. 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 (NYSE:OC) last announced its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.37 by $0.27. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the prior year, the firm posted $4.22 earnings per share. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. Equities research analysts predict that Owens Corning will post 15.38 earnings per share for the current year.

Insider Transactions at Owens Corning

In other news, insider Marcio A. Sandri sold 3,051 shares of the firm’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 in the company, valued at $10,074,443.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Marcio A. Sandri sold 3,051 shares of the business’s 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 sale, the insider now directly owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Owens Corning

Several institutional investors have recently modified their holdings of OC. MV Capital Management Inc. lifted its stake in Owens Corning by 112.9% during the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after purchasing an additional 79 shares during the last quarter. NBC Securities Inc. acquired a new position in Owens Corning in the 1st quarter worth about $26,000. ST Germain D J Co. Inc. lifted its stake in Owens Corning by 794.1% in the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after acquiring an additional 135 shares during the last quarter. Riverview Trust Co bought a new stake in Owens Corning in the first quarter worth $28,000. Finally, ORG Partners LLC acquired a new position in shares of Owens Corning during the 1st quarter valued at about $31,000. 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.