Owens Corning Inc (OC) Stock Rating Reaffirmed by Jefferies Group LLC

Owens Corning Inc (NYSE:OC)‘s stock had its “buy” rating reiterated by Jefferies Group LLC in a research report issued to clients and investors on Friday. They presently have a $82.00 price target on the construction company’s stock. Jefferies Group LLC’s price objective would suggest a potential upside of 3.47% from the company’s current price.

Other analysts also recently issued research reports about the company. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Owens Corning in a research note on Tuesday, October 3rd. Citigroup Inc. reaffirmed a “sell” rating and set a $69.00 price objective (up previously from $49.00) on shares of Owens Corning in a research note on Tuesday, October 3rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $83.00 price objective on shares of Owens Corning in a research note on Friday, July 28th. BidaskClub raised Owens Corning from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Finally, Macquarie raised Owens Corning from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $54.00 to $68.00 in a research note on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $72.47.

Shares of Owens Corning (NYSE:OC) opened at 79.25 on Friday. The firm has a market capitalization of $8.81 billion, a price-to-earnings ratio of 22.77 and a beta of 1.05. The stock’s 50 day moving average price is $74.33 and its 200-day moving average price is $66.43. Owens Corning has a 12 month low of $46.45 and a 12 month high of $79.44.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, July 26th. The construction company reported $1.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.12. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.48 billion. Owens Corning had a return on equity of 11.12% and a net margin of 6.61%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.29 EPS. On average, equities research analysts predict that Owens Corning will post $4.32 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This news story was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://ledgergazette.com/2017/10/08/owens-corning-inc-oc-stock-rating-reaffirmed-by-jefferies-group-llc.html.

In other news, VP Kelly Schmidt sold 1,462 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $70.35, for a total value of $102,851.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael C. Mcmurray sold 14,000 shares of the firm’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $76.52, for a total value of $1,071,280.00. Following the completion of the transaction, the chief financial officer now owns 40,903 shares of the company’s stock, valued at approximately $3,129,897.56. The disclosure for this sale can be found here. Insiders sold a total of 212,866 shares of company stock valued at $15,644,970 in the last 90 days. 1.80% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in Owens Corning by 4,010.8% during the first quarter. BlackRock Inc. now owns 6,496,203 shares of the construction company’s stock worth $398,669,000 after purchasing an additional 6,338,177 shares during the period. Renaissance Technologies LLC grew its holdings in Owens Corning by 71.7% during the first quarter. Renaissance Technologies LLC now owns 1,169,800 shares of the construction company’s stock worth $71,791,000 after purchasing an additional 488,500 shares during the period. PGGM Investments bought a new position in Owens Corning during the second quarter worth about $26,366,000. Boston Partners bought a new position in Owens Corning during the second quarter worth about $26,195,000. Finally, Schwab Charles Investment Management Inc. grew its holdings in Owens Corning by 36.0% during the first quarter. S

Other analysts also recently issued research reports about the company. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Owens Corning in a research note on Tuesday, October 3rd. Citigroup Inc. reaffirmed a “sell” rating and set a $69.00 price objective (up previously from $49.00) on shares of Owens Corning in a research note on Tuesday, October 3rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $83.00 price objective on shares of Owens Corning in a research note on Friday, July 28th. BidaskClub raised Owens Corning from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Finally, Macquarie raised Owens Corning from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $54.00 to $68.00 in a research note on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $72.47.

Shares of Owens Corning (NYSE:OC) opened at 79.25 on Friday. The firm has a market capitalization of $8.81 billion, a price-to-earnings ratio of 22.77 and a beta of 1.05. The stock’s 50 day moving average price is $74.33 and its 200-day moving average price is $66.43. Owens Corning has a 12 month low of $46.45 and a 12 month high of $79.44.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, July 26th. The construction company reported $1.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.12. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.48 billion. Owens Corning had a return on equity of 11.12% and a net margin of 6.61%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.29 EPS. On average, equities research analysts predict that Owens Corning will post $4.32 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This news story was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://ledgergazette.com/2017/10/08/owens-corning-inc-oc-stock-rating-reaffirmed-by-jefferies-group-llc.html.

In other news, VP Kelly Schmidt sold 1,462 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $70.35, for a total value of $102,851.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael C. Mcmurray sold 14,000 shares of the firm’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $76.52, for a total value of $1,071,280.00. Following the completion of the transaction, the chief financial officer now owns 40,903 shares of the company’s stock, valued at approximately $3,129,897.56. The disclosure for this sale can be found here. Insiders sold a total of 212,866 shares of company stock valued at $15,644,970 in the last 90 days. 1.80% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in Owens Corning by 4,010.8% during the first quarter. BlackRock Inc. now owns 6,496,203 shares of the construction company’s stock worth $398,669,000 after purchasing an additional 6,338,177 shares during the period. Renaissance Technologies LLC grew its holdings in Owens Corning by 71.7% during the first quarter. Renaissance Technologies LLC now owns 1,169,800 shares of the construction company’s stock worth $71,791,000 after purchasing an additional 488,500 shares during the period. PGGM Investments bought a new position in Owens Corning during the second quarter worth about $26,366,000. Boston Partners bought a new position in Owens Corning during the second quarter worth about $26,195,000. Finally, Schwab Charles Investment Management Inc. grew its holdings in Owens Corning by 36.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,383,533 shares of the construction company’s stock worth $84,908,000 after purchasing an additional 366,192 shares during the period. Institutional investors own 96.84% of the company’s stock.

Owens Corning Company Profile

Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.

Analyst Recommendations for Owens Corning (NYSE:OC)

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