Barclays Lowers Owens Corning (NYSE:OC) Price Target to $215.00

Owens Corning (NYSE:OC) had its price target dropped by stock analysts at Barclays from $245.00 to $215.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. Barclays‘s price objective would indicate a potential upside of 41.57% from the company’s current price.

A number of other brokerages also recently issued reports on OC. Evercore ISI upped their price objective on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Company cut their price objective on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday. Loop Capital lowered their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, The Goldman Sachs Group upped their price target on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $207.00.

Owens Corning Trading Down 1.6 %

Shares of OC opened at $151.86 on Wednesday. Owens Corning has a fifty-two week low of $148.62 and a fifty-two week high of $214.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The company’s fifty day moving average is $175.72 and its 200 day moving average is $178.65. The stock has a market capitalization of $13.03 billion, a PE ratio of 12.92, a P/E/G ratio of 1.88 and a beta of 1.46.

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

Insider Transactions at Owens Corning

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

Hedge Funds Weigh In On Owens Corning

A number of large investors have recently bought and sold shares of the business. International Assets Investment Management LLC bought a new position in shares of Owens Corning in the 3rd quarter worth $156,000. Forsta AP Fonden grew its stake in Owens Corning by 18.6% in the third quarter. Forsta AP Fonden now owns 24,900 shares of the construction company’s stock valued at $4,395,000 after purchasing an additional 3,900 shares during the last quarter. PFG Investments LLC raised its holdings in Owens Corning by 3.9% in the third quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock worth $323,000 after purchasing an additional 68 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Owens Corning by 3.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,793 shares of the construction company’s stock valued at $1,199,000 after buying an additional 211 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Owens Corning by 132.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 11,893 shares of the construction company’s stock valued at $2,099,000 after buying an additional 6,778 shares in the last quarter. Institutional investors 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.