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

Owens Corning (NYSE:OC) had its price objective cut by Barclays from $190.00 to $189.00 in a report released on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the construction company’s stock. Barclays‘s price objective suggests a potential upside of 6.50% from the company’s previous close.

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

Owens Corning Stock Up 1.3 %

Owens Corning stock opened at $177.46 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76. The stock has a market cap of $15.38 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 5.28 and a beta of 1.42. Owens Corning has a fifty-two week low of $109.95 and a fifty-two week high of $184.00. The firm’s 50-day simple moving average is $175.56 and its 200 day simple moving average is $163.07.

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

Insider Buying and Selling

In other news, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total transaction of $520,950.00. Following the completion of the transaction, the chief financial officer now directly owns 31,626 shares in the company, valued at approximately $5,491,854.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Mari Doerfler sold 240 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $182.05, for a total value of $43,692.00. Following the sale, the vice president now directly owns 4,954 shares of the company’s stock, valued at $901,875.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $173.65, for a total transaction of $520,950.00. Following the completion of the transaction, the chief financial officer now directly owns 31,626 shares of the company’s stock, valued at approximately $5,491,854.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,360 shares of company stock valued at $3,437,315. Company insiders own 0.89% of the company’s stock.

Institutional Trading of Owens Corning

Several institutional investors and hedge funds have recently made changes to their positions in OC. MV Capital Management Inc. increased its stake in Owens Corning by 112.9% in the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after acquiring an additional 79 shares during the last quarter. ST Germain D J Co. Inc. increased its position in shares of Owens Corning by 794.1% during the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after purchasing an additional 135 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of Owens Corning during the 1st quarter valued at about $26,000. Riverview Trust Co bought a new stake in Owens Corning in the 1st quarter worth approximately $28,000. Finally, Contravisory Investment Management Inc. purchased a new stake in Owens Corning in the fourth quarter worth approximately $27,000. Hedge funds and other 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.