Analysts Set Owens Corning Inc (NYSE:OC) Price Target at $144.82

Owens Corning Inc (NYSE:OC) has earned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $144.8182.

OC has been the topic of several research analyst reports. UBS Group boosted their price objective on Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. The Goldman Sachs Group boosted their price objective on Owens Corning from $125.00 to $141.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Barclays boosted their price objective on Owens Corning from $135.00 to $144.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Finally, Bank of America dropped their price target on Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, April 20th.

Insiders Place Their Bets

In other news, insider Rachel Barthelemy Marcon sold 700 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $120.71, for a total transaction of $84,497.00. Following the transaction, the insider owned 15,848 shares of the company’s stock, valued at $1,913,012.08. This represents a 4.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mari Doerfler sold 1,926 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $120.92, for a total value of $232,891.92. Following the transaction, the vice president directly owned 3,093 shares in the company, valued at $374,005.56. This represents a 38.37% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in OC. Geneos Wealth Management Inc. lifted its position in shares of Owens Corning by 61.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock valued at $69,000 after buying an additional 184 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Owens Corning during the 2nd quarter valued at $277,000. EverSource Wealth Advisors LLC raised its stake in shares of Owens Corning by 1,433.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,273 shares of the construction company’s stock valued at $175,000 after purchasing an additional 1,190 shares during the period. Cerity Partners LLC raised its stake in shares of Owens Corning by 294.3% during the 2nd quarter. Cerity Partners LLC now owns 17,372 shares of the construction company’s stock valued at $2,389,000 after purchasing an additional 12,966 shares during the period. Finally, Bank of Nova Scotia raised its stake in shares of Owens Corning by 12.2% during the 2nd quarter. Bank of Nova Scotia now owns 3,059 shares of the construction company’s stock valued at $421,000 after purchasing an additional 333 shares during the period. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Down 0.1%

OC stock opened at $120.28 on Thursday. The stock’s fifty day simple moving average is $116.88 and its two-hundred day simple moving average is $117.02. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27. Owens Corning has a 1-year low of $97.53 and a 1-year high of $159.42. The stock has a market cap of $9.69 billion, a P/E ratio of -18.20, a P/E/G ratio of 2.18 and a beta of 1.34.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.21. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The business had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the firm earned $2.97 earnings per share. The business’s revenue was down 10.5% on a year-over-year basis. Analysts expect that Owens Corning will post 9.53 EPS for the current year.

About Owens Corning

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.