Owens Corning (NYSE:OC) Now Covered by Analysts at Northcoast Research

Analysts at Northcoast Research started coverage on shares of Owens Corning (NYSE:OC) in a research report issued to clients and investors on Thursday, Zacks reports. The firm set a “hold” rating on the construction company’s stock.

A number of other analysts also recently commented on OC. Wells Fargo & Company boosted their price target on shares of Owens Corning from $125.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, November 5th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a report on Wednesday, July 15th. Evercore set a $185.00 price objective on shares of Owens Corning in a research note on Thursday, October 1st. DA Davidson set a $143.00 target price on Owens Corning in a report on Friday, October 9th. Finally, Weiss Ratings cut shares of Owens Corning from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Monday, November 9th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $140.93.

Owens Corning Stock Performance

Shares of NYSE OC traded down $1.85 during midday trading on Thursday, hitting $115.68. 955,248 shares of the company’s stock were exchanged, compared to its average volume of 1,231,648. Owens Corning has a twelve month low of $97.53 and a twelve month high of $159.91. The firm has a market cap of $8.92 billion, a P/E ratio of -21.74, a PEG ratio of 2.83 and a beta of 1.31. The stock’s 50 day moving average price is $120.38 and its 200-day moving average price is $126.06. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.13 and a quick ratio of 0.58.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, November 4th. The construction company reported $2.44 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.63). The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.62 billion. Owens Corning had a negative net margin of 4.42% and a positive return on equity of 19.14%. The firm’s revenue was down 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.67 earnings per share. Equities research analysts anticipate that Owens Corning will post 8.47 EPS for the current year.

Insider Buying and Selling at Owens Corning

In related news, insider Rachel Barthelemy Marcon sold 900 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $144.07, for a total transaction of $129,663.00. Following the completion of the sale, the insider directly owned 21,449 shares in the company, valued at approximately $3,090,157.43. This trade represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Basecamp Wealth Advisors LLC raised its stake in Owens Corning by 3.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 3,317 shares of the construction company’s stock valued at $359,000 after buying an additional 97 shares during the last quarter. HM Payson & Co. boosted its holdings in shares of Owens Corning by 203.6% in the second quarter. HM Payson & Co. now owns 167 shares of the construction company’s stock worth $27,000 after buying an additional 112 shares during the last quarter. V Square Quantitative Management LLC boosted its holdings in shares of Owens Corning by 26.9% in the third quarter. V Square Quantitative Management LLC now owns 556 shares of the construction company’s stock worth $65,000 after buying an additional 118 shares during the last quarter. Versant Capital Management Inc grew its position in Owens Corning by 13.8% during the second quarter. Versant Capital Management Inc now owns 1,017 shares of the construction company’s stock valued at $162,000 after buying an additional 123 shares during the period. Finally, Cidel Asset Management Inc. grew its position in Owens Corning by 7.9% during the third quarter. Cidel Asset Management Inc. now owns 1,841 shares of the construction company’s stock valued at $215,000 after buying an additional 135 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

About Owens Corning

Owens Corning is a building-products company that develops and manufactures materials for residential and commercial construction. Its products include roofing shingles and components, insulation for buildings and industrial applications, and interior and exterior doors. Founded in 1938 through the combination of Owens-Illinois Glass Company and Corning Glass Works’ fiberglass operations, the company has a long history of developing glass-fiber-based materials. It is headquartered in Toledo, Ohio, and serves customers in North America and international markets.