Owens Corning (NYSE:OC) Stock Rating Lowered by Vertical Research

Owens Corning (NYSE:OC) was downgraded by stock analysts at Vertical Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, Marketbeat reports. They currently have a $106.00 price objective on the construction company’s stock. Vertical Research’s price objective would suggest a potential downside of 9.69% from the stock’s current price.

A number of other research firms have also issued reports on OC. Wells Fargo & Company reduced their price target on shares of Owens Corning from $172.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, September 11th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Owens Corning from $136.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. The Goldman Sachs Group upped their price objective on shares of Owens Corning from $141.00 to $159.00 and gave the company a “neutral” rating in a research note on Friday, July 10th. Barclays cut their target price on shares of Owens Corning from $177.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Owens Corning in a research note on Monday, September 21st. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and a consensus target price of $148.93.

Owens Corning Stock Performance

Shares of OC stock opened at $117.37 on Wednesday. The company has a market capitalization of $9.28 billion, a price-to-earnings ratio of -14.56, a P/E/G ratio of 1.85 and a beta of 1.32. Owens Corning has a 1-year low of $97.53 and a 1-year high of $159.91. The company has a current ratio of 1.16, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10. The stock’s fifty day simple moving average is $135.84 and its 200-day simple moving average is $129.07.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, August 5th. The construction company reported $3.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.84. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%.The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the business earned $4.21 EPS. The business’s revenue for the quarter was up .3% on a year-over-year basis. On average, sell-side analysts predict that Owens Corning will post 9.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Rachel Barthelemy Marcon sold 900 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $144.07, for a total value of $129,663.00. Following the transaction, the insider owned 21,449 shares in the company, valued at approximately $3,090,157.43. This represents a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.92% of the company’s stock.

Institutional Trading of Owens Corning

A number of institutional investors have recently added to or reduced their stakes in OC. HM Payson & Co. increased its stake in shares of Owens Corning by 203.6% during the 2nd quarter. HM Payson & Co. now owns 167 shares of the construction company’s stock worth $27,000 after purchasing an additional 112 shares during the last quarter. Fiduciary Financial Advisors acquired a new stake in shares of Owens Corning in the 2nd quarter valued at $35,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Owens Corning in the 1st quarter valued at $30,000. NBH Bank bought a new stake in Owens Corning in the second quarter worth $47,000. Finally, Root Financial Partners LLC boosted its holdings in Owens Corning by 212.7% in the first quarter. Root Financial Partners LLC now owns 419 shares of the construction company’s stock worth $45,000 after purchasing an additional 285 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning News Roundup

Here are the key news stories impacting Owens Corning this week:

• Positive Sentiment: Relative strength: Owens Corning shares rose while the overall market declined, indicating buying interest and a possible rebound following the previous session’s pressure. Owens Corning Ascends While Market Falls: Some Facts to Note
• Neutral Sentiment: Investor attention remains elevated: Owens Corning has been among the most heavily searched stocks on Zacks, which may be supporting trading activity but does not itself change the company’s earnings outlook. Investors Heavily Search Owens Corning
• Negative Sentiment: Vertical Research downgraded OC from Hold to Sell and assigned a $106 price target, implying downside from the stock’s recent trading level. Vertical Research Downgrades Owens Corning
• Negative Sentiment: RBC Capital downgraded Owens Corning from Outperform to Sector Perform and cut its price target sharply, from $172 to $127. The move signals reduced expectations for outperformance, although the revised target remains above the recent share price. RBC Downgrades Owens Corning
• Negative Sentiment: The analyst downgrades triggered a sharp decline in Owens Corning shares in the prior session, reinforcing concerns about valuation, construction-sector demand, and the company’s near-term outlook. Owens Corning Shares Fall After Vertical Research Downgrade

About Owens Corning

Owens Corning (NYSE:OC) is a global building materials company that develops and manufactures products used in residential, commercial and industrial construction. Its portfolio includes insulation, roofing and composite materials designed to improve energy efficiency, weather protection, durability and structural performance.

The company’s insulation business offers products such as fiberglass and mineral wool insulation, along with related air-sealing and acoustic solutions. Its roofing operations produce shingles, underlayment and other components for residential and commercial roofing systems.