Owens Corning (NYSE:OC) Price Target Raised to $188.00 at Evercore ISI

Owens Corning (NYSE:OC) had its target price upped by research analysts at Evercore ISI from $172.00 to $188.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “in-line” rating on the construction company’s stock. Evercore ISI’s price objective suggests a potential upside of 6.09% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Citigroup upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $178.00 to $191.00 in a report on Thursday. Loop Capital upped their price objective on shares of Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Jefferies Financial Group started coverage on shares of Owens Corning in a research report on Wednesday, May 22nd. They set a “buy” rating and a $215.00 target price for the company. Royal Bank of Canada boosted their target price 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. Finally, Argus boosted their target price on shares of Owens Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $183.92.

Owens Corning Stock Down 0.1 %

Shares of Owens Corning stock traded down $0.26 on Monday, hitting $177.20. 142,368 shares of the company traded hands, compared to its average volume of 655,048. The company has a 50-day moving average price of $175.56 and a 200 day moving average price of $163.17. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.50. Owens Corning has a 12-month low of $109.95 and a 12-month high of $184.00. The company has a market cap of $15.36 billion, a PE ratio of 14.35, a PEG ratio of 5.28 and a beta of 1.42.

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

Insider Activity

In related news, CFO Todd W. Fister sold 3,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $180.85, for a total value of $542,550.00. Following the completion of the transaction, the chief financial officer now owns 34,626 shares of the company’s stock, valued at $6,262,112.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Todd W. Fister sold 3,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $180.85, for a total value of $542,550.00. Following the completion of the transaction, the chief financial officer now owns 34,626 shares of the company’s stock, valued at $6,262,112.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mari Doerfler sold 240 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total transaction of $43,692.00. Following the completion of the transaction, the vice president now directly owns 4,954 shares of the company’s stock, valued at approximately $901,875.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,360 shares of company stock valued at $3,437,315. Insiders own 0.89% of the company’s stock.

Institutional Trading of Owens Corning

Several large investors have recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Owens Corning by 12.4% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 36,150 shares of the construction company’s stock worth $6,277,000 after buying an additional 4,000 shares during the last quarter. SG Americas Securities LLC grew its stake in Owens Corning by 102.0% during the second quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock worth $7,214,000 after buying an additional 20,971 shares during the last quarter. QRG Capital Management Inc. grew its stake in Owens Corning by 19.7% during the second quarter. QRG Capital Management Inc. now owns 17,067 shares of the construction company’s stock worth $2,965,000 after buying an additional 2,811 shares during the last quarter. Carolina Wealth Advisors LLC grew its stake in Owens Corning by 12.5% during the second quarter. Carolina Wealth Advisors LLC now owns 4,713 shares of the construction company’s stock worth $819,000 after buying an additional 523 shares during the last quarter. Finally, BDF Gestion bought a new stake in Owens Corning during the second quarter worth about $4,230,000. 88.40% of the stock is 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.