Owens Corning Inc (OC) Now Covered by Credit Suisse Group

Analysts at Credit Suisse Group initiated coverage on shares of Owens Corning Inc (NYSE:OC) in a report issued on Thursday. The firm set an “outperform” rating and a $75.00 price target on the construction company’s stock. Credit Suisse Group’s target price would indicate a potential upside of 12.44% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Nomura started coverage on shares of Owens Corning in a report on Wednesday, April 12th. They set a “buy” rating and a $74.00 target price on the stock. Stifel Nicolaus boosted their target price on shares of Owens Corning from $64.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, May 1st. Zacks Investment Research lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Wednesday, April 12th. Royal Bank Of Canada reissued an “outperform” rating and set a $71.00 target price (up from $67.00) on shares of Owens Corning in a report on Thursday, April 27th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $71.00 target price on shares of Owens Corning in a report on Thursday, March 23rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company. Owens Corning has a consensus rating of “Buy” and an average price target of $64.47.

Analyst Recommendations for Owens Corning (NYSE:OC)

Owens Corning (NYSE:OC) opened at 66.70 on Thursday. The firm has a market capitalization of $7.46 billion, a price-to-earnings ratio of 17.48 and a beta of 1.04. The stock’s 50 day moving average is $62.73 and its 200-day moving average is $58.70. Owens Corning has a 12 month low of $46.45 and a 12 month high of $67.31.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, April 26th. The construction company reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.24. Owens Corning had a net margin of 7.38% and a return on equity of 11.56%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the firm posted $0.53 EPS. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. Equities analysts anticipate that Owens Corning will post $4.03 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, July 13th. This represents a $0.80 annualized dividend and a yield of 1.20%. Owens Corning’s payout ratio is 21.00%.

ILLEGAL ACTIVITY NOTICE: This news story was originally posted by BBNS and is the property of of BBNS. If you are viewing this news story on another publication, it was stolen and republished in violation of United States and international copyright laws. The correct version of this news story can be viewed at https://baseballnewssource.com/markets/owens-corning-inc-oc-now-covered-by-credit-suisse-group/1093912.html.

In other news, Director James J. Mcmonagle sold 2,000 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $64.60, for a total value of $129,200.00. Following the completion of the sale, the director now owns 50,906 shares in the company, valued at approximately $3,288,527.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Arnaud Genis sold 21,544 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $65.44, for a total transaction of $1,409,839.36. Following the completion of the sale, the insider now owns 80,143 shares of the company’s stock, valued at approximately $5,244,557.92. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of OC. World Asset Management Inc raised its stake in Owens Corning by 1.1% in the first quarter. World Asset Management Inc now owns 4,941 shares of the construction company’s stock valued at $303,000 after buying an additional 52 shares during the last quarter. Opus Capital Group LLC raised its stake in Owens Corning by 1.5% in the first quarter. Opus Capital Group LLC now owns 5,126 shares of the construction company’s stock valued at $314,000 after buying an additional 76 shares during the last quarter. Laurion Capital Management LP raised its stake in Owens Corning by 1.8% in the first quarter. Laurion Capital Management LP now owns 5,700 shares of the construction company’s stock valued at $350,000 after buying an additional 103 shares during the last quarter. New York State Teachers Retirement System raised its stake in Owens Corning by 2.0% in the fourth quarter. New York State Teachers Retirement System now owns 10,200 shares of the construction company’s stock valued at $526,000 after buying an additional 200 shares during the last quarter. Finally, Penserra Capital Management LLC raised its stake in Owens Corning by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,668 shares of the construction company’s stock valued at $163,000 after buying an additional 232 shares during the last quarter.

Owens Corning Company Profile

Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.

Receive News & Ratings for Owens Corning Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning Inc and related companies with our FREE daily email newsletter.

 


Latest News

Hitters in Major League Baseball on Record Home Run Pace
Hitters in Major League Baseball on Record Home Run Pace
Atlanta Considering Playing Freddie Freeman at Third
Atlanta Considering Playing Freddie Freeman at Third
Injury to Gleyber Torres Adds to Questions About Yankees
Injury to Gleyber Torres Adds to Questions About Yankees
Game Winning Home Run Completes Nolan Arenado Cycle
Game Winning Home Run Completes Nolan Arenado Cycle
New York Yankees and Masahiro Tanaka Hit Hard Again
New York Yankees and Masahiro Tanaka Hit Hard Again
Victor Martinez Diagnosed with Irregular Heartbeat
Victor Martinez Diagnosed with Irregular Heartbeat


Leave a Reply

 
© 2006-2017 BBNS.