Owens Corning Inc (NYSE:OC) had its price target boosted by equities researchers at Nomura from $79.00 to $83.00 in a research note issued to investors on Tuesday, October 31st. The brokerage currently has a “neutral” rating on the construction company’s stock. Nomura’s target price suggests a potential upside of 1.36% from the company’s current price.
OC has been the subject of several other research reports. Wells Fargo & Company upgraded Owens Corning from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $68.00 to $83.00 in a research note on Wednesday, August 30th. Royal Bank Of Canada restated a “buy” rating on shares of Owens Corning in a research note on Tuesday, October 3rd. Evercore ISI reiterated an “outperform” rating and set a $80.00 price target (down previously from $88.00) on shares of Owens Corning in a research report on Wednesday, October 11th. MKM Partners upgraded Owens Corning from a “sell” rating to a “neutral” rating and lifted their price target for the company from $47.00 to $62.00 in a research report on Thursday, July 27th. Finally, FBR & Co lifted their price target on Owens Corning from $63.00 to $70.00 and gave the company a “mkt perform” rating in a research report on Thursday, July 27th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $76.95.
Shares of Owens Corning (NYSE:OC) opened at $81.89 on Tuesday. Owens Corning has a 12-month low of $49.80 and a 12-month high of $83.31. The stock has a market capitalization of $9,109.53, a price-to-earnings ratio of 20.37, a PEG ratio of 1.43 and a beta of 1.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.99 and a current ratio of 1.66.
Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, October 25th. The construction company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.01). Owens Corning had a return on equity of 11.40% and a net margin of 6.15%. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the business posted $1.09 EPS. The company’s revenue was up 12.2% compared to the same quarter last year. sell-side analysts predict that Owens Corning will post 4.32 earnings per share for the current year.
In other news, Chairman Michael H. Thaman sold 130,700 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $74.95, for a total transaction of $9,795,965.00. Following the transaction, the chairman now directly owns 847,992 shares of the company’s stock, valued at $63,557,000.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Kelly Schmidt sold 1,462 shares of the company’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $70.35, for a total value of $102,851.70. The disclosure for this sale can be found here. Insiders sold 196,266 shares of company stock worth $14,529,782 over the last three months. Corporate insiders own 1.80% of the company’s stock.
Large investors have recently made changes to their positions in the company. TIAA FSB bought a new position in shares of Owens Corning during the third quarter valued at $3,022,000. Geneva Advisors LLC increased its position in Owens Corning by 6.2% during the second quarter. Geneva Advisors LLC now owns 10,380 shares of the construction company’s stock valued at $695,000 after acquiring an additional 603 shares during the last quarter. Marshall Wace North America L.P. increased its position in Owens Corning by 317.3% during the second quarter. Marshall Wace North America L.P. now owns 92,940 shares of the construction company’s stock valued at $6,227,000 after acquiring an additional 70,667 shares during the last quarter. Aviva PLC increased its position in Owens Corning by 14.3% during the second quarter. Aviva PLC now owns 39,967 shares of the construction company’s stock valued at $2,674,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Northpointe Capital LLC increased its position in Owens Corning by 4.6% during the second quarter. Northpointe Capital LLC now owns 40,348 shares of the construction company’s stock valued at $2,700,000 after acquiring an additional 1,778 shares during the last quarter. 97.61% of the stock is currently owned by hedge funds and other institutional investors.
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.
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