Evercore ISI Forecasts Strong Price Appreciation for Owens Corning (NYSE:OC) Stock

Owens Corning (NYSE:OC) had its price target raised by equities researchers at Evercore ISI from $189.00 to $196.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “in-line” rating on the construction company’s stock. Evercore ISI’s target price suggests a potential upside of 3.76% from the stock’s current price.

OC has been the subject of several other reports. StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Wells Fargo & Company increased their price objective on shares of Owens Corning from $165.00 to $175.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Barclays reduced their price objective on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Finally, UBS Group lifted their price target on Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $188.31.

Owens Corning Stock Up 2.3 %

Shares of OC stock traded up $4.25 during trading on Thursday, reaching $188.89. The company’s stock had a trading volume of 23,589 shares, compared to its average volume of 678,818. The company has a market cap of $16.42 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 2.20 and a beta of 1.41. Owens Corning has a one year low of $120.17 and a one year high of $191.44. The business has a fifty day moving average price of $174.98 and a 200-day moving average price of $173.36. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating analysts’ consensus estimates of $4.01 by $0.37. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The business’s revenue was up 22.9% compared to the same quarter last year. During the same period last year, the company earned $4.15 earnings per share. Analysts anticipate that Owens Corning will post 15.34 earnings per share for the current year.

Insider Buying and Selling at Owens Corning

In other news, insider Marcio A. Sandri sold 3,050 shares of the business’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 completion of the transaction, the insider now 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the sale, the insider now 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 filing with the SEC, which is available at this link. Also, insider Marcio A. Sandri sold 3,050 shares of the company’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 of the company’s stock, valued at $10,222,100. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Owens Corning

Several large investors have recently bought and sold shares of the company. ST Germain D J Co. Inc. increased its holdings 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 purchasing an additional 135 shares during the period. ORG Partners LLC bought a new position in Owens Corning during the 1st quarter worth approximately $31,000. Innealta Capital LLC acquired a new position in shares of Owens Corning in the 2nd quarter worth approximately $32,000. Tobam boosted its stake in shares of Owens Corning by 115.7% in the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after purchasing an additional 103 shares during the last quarter. Finally, Quarry LP raised its stake in Owens Corning by 165.5% during the second quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after buying an additional 144 shares during the last quarter. 88.40% of the stock is currently 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.