Owens Corning (NYSE:OC) Price Target Lowered to $235.00 at UBS Group

Owens Corning (NYSE:OC) had its price target reduced by equities research analysts at UBS Group from $245.00 to $235.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. UBS Group’s target price would suggest a potential upside of 47.03% from the stock’s previous close.

A number of other research analysts also recently commented on OC. Loop Capital dropped their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $192.00 to $245.00 in a report on Wednesday, December 11th. Wells Fargo & Company reduced their target price on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Finally, Royal Bank of Canada lifted their target price on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Owens Corning currently has an average rating of “Moderate Buy” and an average price target of $210.50.

Owens Corning Price Performance

OC traded down $3.06 during midday trading on Tuesday, hitting $159.83. 233,042 shares of the company traded hands, compared to its average volume of 722,436. The company has a market capitalization of $13.71 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 1.88 and a beta of 1.46. The business has a 50 day simple moving average of $176.97 and a two-hundred day simple moving average of $179.00. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a 52-week low of $145.50 and a 52-week high of $214.53.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.35. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. Owens Corning’s revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.21 EPS. On average, equities analysts forecast that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Insider Activity at Owens Corning

In related news, insider Gunner Smith sold 17,450 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the sale, the insider now owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the sale, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Owens Corning

Large investors have recently made changes to their positions in the company. Alpha DNA Investment Management LLC lifted its holdings in Owens Corning by 147.4% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock valued at $754,000 after acquiring an additional 2,544 shares during the last quarter. Janus Henderson Group PLC increased its stake in Owens Corning by 3.1% in the 3rd quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company’s stock worth $1,189,000 after purchasing an additional 200 shares in the last quarter. Penserra Capital Management LLC lifted its position in shares of Owens Corning by 53.3% in the 3rd quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock valued at $832,000 after acquiring an additional 1,643 shares in the last quarter. Atria Investments Inc grew its position in Owens Corning by 93.3% during the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock worth $2,330,000 after purchasing an additional 6,373 shares in the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in shares of Owens Corning in the third quarter valued at $1,046,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

About Owens Corning

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.