Owens Corning (NYSE:OC) PT Raised to $192.00

Owens Corning (NYSE:OC) had its price objective raised by equities researchers at UBS Group from $169.00 to $192.00 in a report issued on Thursday, 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 16.84% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada cut their target price on shares of Owens Corning from $183.00 to $175.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Truist Financial boosted their price target on shares of Owens Corning from $115.00 to $145.00 and gave the company a “hold” rating in a report on Thursday, February 15th. Loop Capital boosted their price objective on shares of Owens Corning from $167.00 to $188.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Barclays cut shares of Owens Corning from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $170.00 to $160.00 in a research report on Monday, February 12th. Finally, Evercore ISI boosted 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. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.07.

Owens Corning Stock Performance

OC stock traded down $0.89 during trading on Thursday, reaching $164.33. 108,089 shares of the stock were exchanged, compared to its average volume of 666,405. The company has a market capitalization of $14.30 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 7.08 and a beta of 1.47. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. Owens Corning has a twelve month low of $98.02 and a twelve month high of $173.65. The stock has a 50 day simple moving average of $158.41 and a 200-day simple moving average of $145.80.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.55. Owens Corning had a net margin of 12.36% and a return on equity of 25.88%. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter last year, the company earned $2.77 earnings per share. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Owens Corning will post 13.92 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Paula Russell sold 3,765 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the transaction, the executive vice president now owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Brian Chambers sold 9,100 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $153.57, for a total value of $1,397,487.00. Following the completion of the transaction, the chief executive officer now owns 269,696 shares of the company’s stock, valued at approximately $41,417,214.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Paula Russell sold 3,765 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total transaction of $609,930.00. Following the completion of the transaction, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,672 shares of company stock worth $3,325,799. Corporate insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Owens Corning

Several large investors have recently modified their holdings of OC. AE Wealth Management LLC bought a new position in shares of Owens Corning during the third quarter valued at $1,749,000. IFP Advisors Inc raised its stake in shares of Owens Corning by 59.8% during the third quarter. IFP Advisors Inc now owns 390 shares of the construction company’s stock valued at $53,000 after acquiring an additional 146 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of Owens Corning by 17.2% during the third quarter. Global Retirement Partners LLC now owns 1,054 shares of the construction company’s stock valued at $140,000 after acquiring an additional 155 shares during the last quarter. DAVENPORT & Co LLC raised its stake in shares of Owens Corning by 12.4% during the third quarter. DAVENPORT & Co LLC now owns 3,688 shares of the construction company’s stock valued at $503,000 after acquiring an additional 406 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in Owens Corning by 26.4% during the third quarter. UMB Bank n.a. now owns 469 shares of the construction company’s stock worth $64,000 after buying an additional 98 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Owens Corning Company Profile

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.