Owens Corning (NYSE:OC) Downgraded by Zacks Research to “Strong Sell”

Owens Corning (NYSE:OC) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other analysts have also weighed in on OC. UBS Group upped their target price on shares of Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Evercore lowered their price target on shares of Owens Corning from $121.00 to $117.00 and set an “in-line” rating for the company in a report on Thursday, December 4th. Royal Bank Of Canada set a $143.00 price objective on shares of Owens Corning in a research report on Friday, January 9th. Wells Fargo & Company raised their price objective on shares of Owens Corning from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Owens Corning in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Owens Corning presently has a consensus rating of “Moderate Buy” and an average price target of $151.58.

Owens Corning Trading Down 1.1%

NYSE:OC opened at $107.74 on Monday. Owens Corning has a 12-month low of $97.53 and a 12-month high of $159.42. The firm has a market cap of $8.66 billion, a PE ratio of -16.83, a price-to-earnings-growth ratio of 1.76 and a beta of 1.35. The company has a current ratio of 1.26, a quick ratio of 0.70 and a debt-to-equity ratio of 1.20. The stock has a fifty day moving average price of $122.54 and a 200 day moving average price of $123.71.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, February 25th. The construction company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.26). The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Owens Corning had a positive return on equity of 21.93% and a negative net margin of 5.17%.Owens Corning’s revenue for the quarter was down 16.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.22 EPS. Sell-side analysts anticipate that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Institutional Trading of Owens Corning

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. boosted its holdings in shares of Owens Corning by 61.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock valued at $69,000 after buying an additional 184 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Owens Corning during the 2nd quarter worth $277,000. ProShare Advisors LLC raised its stake in Owens Corning by 3.2% during the 2nd quarter. ProShare Advisors LLC now owns 3,771 shares of the construction company’s stock worth $519,000 after acquiring an additional 118 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Owens Corning by 5.1% in the second quarter. PNC Financial Services Group Inc. now owns 7,301 shares of the construction company’s stock valued at $1,004,000 after acquiring an additional 357 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Owens Corning by 6.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,853 shares of the construction company’s stock valued at $3,005,000 after acquiring an additional 1,347 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Company Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.