Owens Corning (NYSE:OC) Rating Reiterated by The Goldman Sachs Group

Owens Corning (NYSE:OCGet Free Report)‘s stock had its “neutral” rating reaffirmed by The Goldman Sachs Group in a report issued on Monday, MarketBeat reports. They currently have a $187.00 price target on the construction company’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 4.27% from the company’s current price.

Other analysts also recently issued research reports about the stock. UBS Group raised their price target on shares of Owens Corning from $169.00 to $192.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Evercore ISI raised their price target on shares of Owens Corning from $154.00 to $172.00 and gave the stock an “in-line” rating in a research report on Thursday, April 25th. Argus raised their price target on shares of Owens Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Royal Bank of Canada raised their price objective on Owens Corning from $192.00 to $201.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 21st. Finally, Jefferies Financial Group began coverage on Owens Corning in a research note on Wednesday, May 22nd. They set a “buy” rating and a $215.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $177.07.

View Our Latest Research Report on OC

Owens Corning Stock Up 1.2 %

Shares of NYSE:OC opened at $179.34 on Monday. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.50. Owens Corning has a 52-week low of $109.95 and a 52-week high of $184.00. The company has a 50 day moving average of $173.39 and a two-hundred day moving average of $159.58. The company has a market capitalization of $15.54 billion, a price-to-earnings ratio of 14.52, a price-to-earnings-growth ratio of 5.26 and a beta of 1.46.

Owens Corning (NYSE:OCGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.55. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter last year, the company earned $2.77 earnings per share. Owens Corning’s revenue for the quarter was down 1.3% on a year-over-year basis. As a group, analysts forecast that Owens Corning will post 15.48 earnings per share for the current fiscal year.

Insider Activity at Owens Corning

In related news, VP Mari Doerfler sold 240 shares of Owens Corning stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total transaction of $43,692.00. Following the transaction, the vice president now directly owns 4,954 shares of the company’s stock, valued at $901,875.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Marcio A. Sandri sold 9,697 shares of Owens Corning stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $178.00, for a total value of $1,726,066.00. Following the transaction, the insider now owns 62,895 shares of the company’s stock, valued at approximately $11,195,310. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Mari Doerfler sold 240 shares of Owens Corning stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total value of $43,692.00. Following the completion of the transaction, the vice president now directly owns 4,954 shares in the company, valued at approximately $901,875.70. The disclosure for this sale can be found here. Insiders have sold a total of 16,360 shares of company stock worth $2,916,365 over the last ninety days. 0.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Owens Corning

A number of institutional investors have recently bought and sold shares of the stock. Invesco Ltd. grew its stake in Owens Corning by 156.1% during the 3rd quarter. Invesco Ltd. now owns 1,487,665 shares of the construction company’s stock valued at $202,932,000 after acquiring an additional 906,782 shares in the last quarter. Pacer Advisors Inc. grew its stake in Owens Corning by 6,116.6% during the 4th quarter. Pacer Advisors Inc. now owns 832,594 shares of the construction company’s stock valued at $123,415,000 after acquiring an additional 819,201 shares in the last quarter. Norges Bank purchased a new position in Owens Corning during the 4th quarter valued at about $118,251,000. Nordea Investment Management AB grew its stake in Owens Corning by 74.4% during the 1st quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock valued at $210,040,000 after acquiring an additional 533,910 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in Owens Corning by 1,602.4% during the 3rd quarter. Federated Hermes Inc. now owns 475,539 shares of the construction company’s stock valued at $64,868,000 after acquiring an additional 447,606 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

About Owens Corning

(Get Free Report)

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.

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Analyst Recommendations for Owens Corning (NYSE:OC)

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