Owens Corning (NYSE:OC) Given New $135.00 Price Target at Barclays

Owens Corning (NYSE:OC) had its target price cut by Barclays from $138.00 to $135.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the construction company’s stock.

Other analysts also recently issued research reports about the company. Citigroup cut their price objective on Owens Corning from $137.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. UBS Group boosted their price objective on Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Royal Bank Of Canada set a $143.00 price objective on Owens Corning in a report on Friday, January 9th. Zacks Research downgraded Owens Corning from a “hold” rating to a “strong sell” rating in a report on Monday, March 16th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Owens Corning in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and an average price target of $145.73.

Owens Corning Price Performance

NYSE OC opened at $112.91 on Wednesday. The stock’s 50-day moving average price is $117.56 and its two-hundred day moving average price is $119.01. The company has a current ratio of 1.26, a quick ratio of 0.70 and a debt-to-equity ratio of 1.20. The company has a market cap of $9.08 billion, a PE ratio of -17.64, a PEG ratio of 1.71 and a beta of 1.35. Owens Corning has a 1 year low of $97.53 and a 1 year high of $159.42.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, February 25th. The construction company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.26). The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. Owens Corning had a positive return on equity of 21.93% and a negative net margin of 5.17%.Owens Corning’s quarterly revenue was down 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.22 EPS. On average, analysts predict that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Monday, March 9th will be issued a $0.79 dividend. The ex-dividend date is Monday, March 9th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.8%. Owens Corning’s dividend payout ratio is currently -49.38%.

Hedge Funds Weigh In On Owens Corning

Large investors have recently made changes to their positions in the business. Ariel Investments LLC increased its holdings in shares of Owens Corning by 24.8% in the 2nd quarter. Ariel Investments LLC now owns 140,449 shares of the construction company’s stock valued at $19,315,000 after purchasing an additional 27,871 shares during the period. Ashton Thomas Private Wealth LLC increased its holdings in shares of Owens Corning by 231.4% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 48,843 shares of the construction company’s stock valued at $6,909,000 after purchasing an additional 34,106 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Owens Corning by 99.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 911,334 shares of the construction company’s stock valued at $128,917,000 after purchasing an additional 454,382 shares during the period. Caprock Group LLC bought a new stake in shares of Owens Corning in the 3rd quarter valued at approximately $1,742,000. Finally, Rakuten Investment Management Inc. bought a new stake in shares of Owens Corning in the 3rd quarter valued at approximately $8,135,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Company Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.