Owens Corning (NYSE:OC) has been given a consensus recommendation of “Hold” by the twenty-one ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $81.56.
Several research firms have recently weighed in on OC. Wells Fargo & Co reissued a “hold” rating on shares of Owens Corning in a research note on Thursday, July 26th. Bank of America downgraded shares of Owens Corning from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $90.00 to $75.00 in a research note on Thursday, July 26th. Zacks Investment Research raised shares of Owens Corning from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Monday, July 2nd. Credit Suisse Group reduced their target price on shares of Owens Corning from $84.00 to $72.00 and set an “outperform” rating on the stock in a research note on Thursday, July 26th. Finally, Northcoast Research reaffirmed a “buy” rating and set a $81.00 target price on shares of Owens Corning in a research note on Friday, July 27th.
Shares of NYSE:OC traded up $1.17 during midday trading on Friday, hitting $58.31. The company’s stock had a trading volume of 142,728 shares, compared to its average volume of 1,125,094. The company has a current ratio of 1.59, a quick ratio of 0.88 and a debt-to-equity ratio of 0.87. The company has a market cap of $6.32 billion, a P/E ratio of 13.05, a P/E/G ratio of 0.66 and a beta of 0.97. Owens Corning has a 12-month low of $55.39 and a 12-month high of $96.52.
Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, July 25th. The construction company reported $1.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by ($0.28). The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Owens Corning had a return on equity of 11.72% and a net margin of 4.47%. The business’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.20 earnings per share. analysts expect that Owens Corning will post 5.27 earnings per share for the current year.
In other Owens Corning news, Director W Howard Morris sold 1,514 shares of Owens Corning stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $58.47, for a total transaction of $88,523.58. Following the completion of the sale, the director now directly owns 36,332 shares in the company, valued at $2,124,332.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in Owens Corning during the 2nd quarter worth approximately $127,000. Balter Liquid Alternatives LLC acquired a new position in Owens Corning during the 1st quarter worth approximately $162,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in Owens Corning during the 2nd quarter worth approximately $163,000. Synovus Financial Corp grew its holdings in Owens Corning by 2,016.9% during the 2nd quarter. Synovus Financial Corp now owns 3,133 shares of the construction company’s stock worth $198,000 after acquiring an additional 2,985 shares in the last quarter. Finally, Cornerstone Wealth Management LLC acquired a new position in Owens Corning during the 2nd quarter worth approximately $218,000.
About Owens Corning
Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential and commercial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.
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