Owens Corning (NYSE:OC) had its target price boosted by research analysts at MKM Partners to $86.00 in a research note issued on Thursday. The brokerage currently has a “neutral” rating on the construction company’s stock. MKM Partners’ price objective would suggest a potential upside of 1.14% from the stock’s current price.
Other research analysts have also issued reports about the company. Bank of America raised their price target on Owens Corning from $84.00 to $97.00 and gave the company a “buy” rating in a report on Friday, November 17th. Stifel Nicolaus reissued a “buy” rating and set a $83.00 price target on shares of Owens Corning in a report on Thursday, October 26th. Argus initiated coverage on Owens Corning in a report on Wednesday, December 6th. They set a “buy” rating and a $109.00 price target on the stock. Zacks Investment Research raised Owens Corning from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a report on Wednesday, December 27th. Finally, Seaport Global Securities raised their price target on Owens Corning from $90.00 to $107.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Nine equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $87.38.
Shares of Owens Corning (NYSE:OC) traded up $2.00 on Thursday, hitting $85.03. The stock had a trading volume of 1,060,204 shares, compared to its average volume of 955,671. The firm has a market capitalization of $9,530.00, a price-to-earnings ratio of 33.35, a price-to-earnings-growth ratio of 1.05 and a beta of 0.98. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 0.99. Owens Corning has a 52 week low of $57.36 and a 52 week high of $96.52.
Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, February 21st. The construction company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.07. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.52 billion. Owens Corning had a return on equity of 11.40% and a net margin of 6.15%. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the company earned $0.72 earnings per share. research analysts expect that Owens Corning will post 4.34 earnings per share for the current fiscal year.
In related news, Director James J. Mcmonagle sold 4,136 shares of Owens Corning stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $87.20, for a total value of $360,659.20. Following the transaction, the director now owns 47,925 shares of the company’s stock, valued at approximately $4,179,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John David Williams sold 3,684 shares of Owens Corning stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $88.64, for a total value of $326,549.76. Following the completion of the transaction, the director now directly owns 24,762 shares in the company, valued at approximately $2,194,903.68. The disclosure for this sale can be found here. Insiders sold a total of 25,820 shares of company stock worth $2,321,249 in the last three months. 1.80% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its stake in Owens Corning by 9.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,689 shares of the construction company’s stock worth $247,000 after purchasing an additional 304 shares in the last quarter. Worth Venture Partners LLC increased its stake in Owens Corning by 20.7% in the 4th quarter. Worth Venture Partners LLC now owns 3,320 shares of the construction company’s stock worth $306,000 after purchasing an additional 570 shares in the last quarter. Penserra Capital Management LLC increased its stake in Owens Corning by 18.6% in the 4th quarter. Penserra Capital Management LLC now owns 3,990 shares of the construction company’s stock worth $366,000 after purchasing an additional 627 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Owens Corning by 2.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,472 shares of the construction company’s stock worth $1,738,000 after purchasing an additional 632 shares in the last quarter. Finally, ETRADE Capital Management LLC increased its stake in Owens Corning by 5.4% in the 4th quarter. ETRADE Capital Management LLC now owns 12,534 shares of the construction company’s stock worth $1,152,000 after purchasing an additional 639 shares in the last quarter. 93.65% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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