Citigroup Lowers Owens Corning (NYSE:OC) Price Target to $207.00

Owens Corning (NYSE:OC) had its target price cut by Citigroup from $212.00 to $207.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Citigroup’s price target points to a potential upside of 22.61% from the stock’s current price.

Other analysts also recently issued research reports about the stock. The Goldman Sachs Group increased their target price on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Evercore ISI raised 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. UBS Group upped their price target on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Barclays upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $192.00 to $245.00 in a report on Wednesday, December 11th. Finally, Wells Fargo & Company upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $195.00 to $225.00 in a research note on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $202.17.

Owens Corning Stock Down 1.4 %

Shares of NYSE:OC opened at $168.83 on Monday. 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 has a market cap of $14.48 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 2.14 and a beta of 1.46. The stock’s 50-day moving average price is $187.46 and its two-hundred day moving average price is $177.28. Owens Corning has a 12-month low of $138.70 and a 12-month high of $214.53.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) 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 analysts’ expectations of $3.04 billion. During the same period last year, the company earned $4.15 earnings per share. The company’s quarterly revenue was up 22.9% on a year-over-year basis. On average, research analysts forecast that Owens Corning will post 15.46 EPS for the current year.

Insider Transactions at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the sale, the insider now owns 18,866 shares in the company, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.89% of the company’s stock.

Institutional Trading of Owens Corning

Several hedge funds and other institutional investors have recently bought and sold shares of OC. Fortem Financial Group LLC increased its stake in Owens Corning by 2.2% during the fourth quarter. Fortem Financial Group LLC now owns 11,842 shares of the construction company’s stock valued at $2,017,000 after purchasing an additional 252 shares during the last quarter. CWA Asset Management Group LLC boosted its holdings in shares of Owens Corning by 29.9% in the 4th quarter. CWA Asset Management Group LLC now owns 7,697 shares of the construction company’s stock valued at $1,311,000 after buying an additional 1,773 shares during the period. Nordea Investment Management AB grew its position in shares of Owens Corning by 12.5% during the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock valued at $366,166,000 after buying an additional 238,694 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in Owens Corning during the fourth quarter worth about $341,000. Finally, GAMMA Investing LLC lifted its holdings in Owens Corning by 33.4% in the fourth quarter. GAMMA Investing LLC now owns 2,015 shares of the construction company’s stock worth $343,000 after acquiring an additional 505 shares during the last quarter. 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.