Instinet lowered shares of Owens Corning Inc (NYSE:OC) from a buy rating to a neutral rating in a research note released on Monday. Instinet currently has $79.00 price objective on the construction company’s stock, up from their previous price objective of $74.00.

Other equities analysts have also recently issued research reports about the stock. Jefferies Group LLC reaffirmed a buy rating and set a $77.00 price objective on shares of Owens Corning in a research note on Wednesday, July 19th. BidaskClub raised shares of Owens Corning from a hold rating to a buy rating in a research note on Saturday, June 24th. Royal Bank Of Canada reaffirmed a buy rating and set a $71.00 price objective on shares of Owens Corning in a research note on Monday, June 19th. Zacks Investment Research raised shares of Owens Corning from a hold rating to a buy rating and set a $75.00 price target for the company in a research note on Wednesday, June 28th. Finally, Northcoast Research set a $76.00 price target on shares of Owens Corning and gave the stock a buy rating in a research note on Tuesday, June 27th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $71.65.

Owens Corning (NYSE OC) traded up 1.108% during mid-day trading on Monday, hitting $75.305. 87,491 shares of the company traded hands. The firm has a 50 day moving average of $69.13 and a 200 day moving average of $64.22. Owens Corning has a one year low of $46.45 and a one year high of $76.84. The firm has a market capitalization of $8.37 billion, a P/E ratio of 21.633 and a beta of 1.04.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, July 26th. The construction company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.08 by $0.12. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Owens Corning had a net margin of 6.61% and a return on equity of 11.12%. Owens Corning’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.29 earnings per share. Equities research analysts expect that Owens Corning will post $4.29 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This piece was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another website, it was stolen and reposted in violation of United States & international trademark and copyright law. The legal version of this piece can be accessed at https://www.thecerbatgem.com/2017/09/12/owens-corning-inc-oc-lowered-to-neutral-at-instinet.html.

In related news, insider Julian Francis sold 2,679 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $74.12, for a total transaction of $198,567.48. Following the completion of the sale, the insider now directly owns 25,643 shares in the company, valued at approximately $1,900,659.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael C. Mcmurray sold 14,000 shares of the company’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $76.52, for a total transaction of $1,071,280.00. Following the sale, the chief financial officer now owns 40,903 shares of the company’s stock, valued at $3,129,897.56. The disclosure for this sale can be found here. Insiders have sold a total of 105,710 shares of company stock valued at $7,388,045 over the last quarter. 1.80% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. Raymond James Trust N.A. raised its holdings in Owens Corning by 0.4% during the 2nd quarter. Raymond James Trust N.A. now owns 7,114 shares of the construction company’s stock valued at $476,000 after buying an additional 26 shares during the last quarter. World Asset Management Inc raised its holdings in Owens Corning by 1.1% during the 1st 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. Laurion Capital Management LP raised its holdings in Owens Corning by 1.8% during the 1st 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. First Bank & Trust raised its holdings in Owens Corning by 3.6% during the 2nd quarter. First Bank & Trust now owns 3,024 shares of the construction company’s stock valued at $202,000 after buying an additional 104 shares during the last quarter. Finally, Vantage Financial Partners Ltd. Inc. bought a new stake in Owens Corning during the 2nd quarter valued at $228,000. Institutional investors own 96.78% of the company’s stock.

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.

Analyst Recommendations for Owens Corning (NYSE:OC)

Receive News & Stock 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 stocks with our FREE daily email newsletter.