Owens Corning (NYSE:OC) Stock Rating Upgraded by StockNews.com

Owens Corning (NYSE:OC) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Saturday.

A number of other equities analysts have also recently issued reports on OC. Barclays decreased their target price on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. Loop Capital increased their price objective on Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Royal Bank of Canada upped their price target on Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Jefferies Financial Group began coverage on shares of Owens Corning in a report on Wednesday, May 22nd. They issued a “buy” rating and a $215.00 target price on the stock. Finally, UBS Group upped their price target on Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $184.23.

Owens Corning Trading Down 1.1 %

Owens Corning stock opened at $157.15 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37. The firm’s 50-day moving average is $168.14 and its 200-day moving average is $168.45. Owens Corning has a 1 year low of $109.95 and a 1 year high of $191.13. The company has a market cap of $13.62 billion, a P/E ratio of 12.72, a PEG ratio of 3.35 and a beta of 1.41.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.37 by $0.27. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.92 billion. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company posted $4.22 EPS. On average, equities analysts expect that Owens Corning will post 15.38 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Mari Doerfler sold 240 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total value of $43,692.00. Following the transaction, the vice president now owns 4,954 shares in the company, valued at approximately $901,875.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Mari Doerfler sold 240 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total transaction of $43,692.00. Following the sale, the vice president now directly owns 4,954 shares in the company, valued at approximately $901,875.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Todd W. Fister sold 3,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $180.85, for a total value of $542,550.00. Following the completion of the transaction, the chief financial officer now owns 34,626 shares in the company, valued at $6,262,112.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,240 shares of company stock valued at $1,107,192. Corporate insiders own 0.89% of the company’s stock.

Institutional Trading of Owens Corning

Several hedge funds and other institutional investors have recently made changes to their positions in OC. SG Americas Securities LLC increased its position in Owens Corning by 102.0% in the second quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock worth $7,214,000 after buying an additional 20,971 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Owens Corning by 66.0% in the fourth quarter. Hsbc Holdings PLC now owns 213,643 shares of the construction company’s stock worth $31,692,000 after buying an additional 84,958 shares during the period. State Board of Administration of Florida Retirement System lifted its position in shares of Owens Corning by 14.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 112,356 shares of the construction company’s stock worth $18,741,000 after purchasing an additional 14,011 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Owens Corning by 11.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 42,827 shares of the construction company’s stock valued at $6,348,000 after buying an additional 4,259 shares during the period. Finally, Campbell & CO Investment Adviser LLC grew its stake in Owens Corning by 452.5% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 19,129 shares of the construction company’s stock worth $2,835,000 after purchasing an additional 15,667 shares in the last quarter. Hedge funds and other 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.