Owens Corning (NYSE:OC) Earns Buy Rating from Analysts at Deutsche Bank

Analysts at Deutsche Bank initiated coverage on shares of Owens Corning (NYSE:OC) in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage set a “buy” rating on the construction company’s stock.

A number of other research analysts have also weighed in on OC. ValuEngine lowered shares of Owens Corning from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 24th. Barclays upped their price objective on shares of Owens Corning from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Wells Fargo & Co upgraded shares of Owens Corning from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $65.15 to $77.00 in a research note on Monday. Buckingham Research raised shares of Owens Corning from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 22nd. Finally, Argus raised shares of Owens Corning from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $61.12.

OC stock traded up $0.73 during mid-day trading on Wednesday, reaching $67.20. 1,211,887 shares of the company traded hands, compared to its average volume of 1,623,341. The company has a quick ratio of 0.87, a current ratio of 1.69 and a debt-to-equity ratio of 0.73. The firm’s 50 day moving average price is $62.61 and its 200 day moving average price is $56.61. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of 13.60, a P/E/G ratio of 1.76 and a beta of 1.24. Owens Corning has a fifty-two week low of $40.64 and a fifty-two week high of $67.61.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, October 23rd. The construction company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.50 by $0.13. Owens Corning had a return on equity of 12.14% and a net margin of 6.99%. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the business posted $1.54 earnings per share. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, analysts anticipate that Owens Corning will post 4.61 EPS for the current fiscal year.

In other Owens Corning news, Chairman Michael H. Thaman sold 50,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $62.00, for a total value of $3,100,000.00. Following the completion of the sale, the chairman now directly owns 777,513 shares of the company’s stock, valued at $48,205,806. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director W Howard Morris sold 1,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $65.16, for a total value of $65,160.00. Following the completion of the sale, the director now directly owns 37,766 shares of the company’s stock, valued at $2,460,832.56. The disclosure for this sale can be found here. Insiders have sold 65,558 shares of company stock valued at $4,093,346 in the last 90 days. 1.70% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Quantamental Technologies LLC purchased a new stake in Owens Corning in the 2nd quarter worth about $33,000. Private Capital Group LLC lifted its holdings in Owens Corning by 95.8% during the second quarter. Private Capital Group LLC now owns 793 shares of the construction company’s stock valued at $50,000 after purchasing an additional 388 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in Owens Corning by 103.9% during the third quarter. Quadrant Capital Group LLC now owns 1,052 shares of the construction company’s stock valued at $65,000 after purchasing an additional 536 shares during the last quarter. MUFG Americas Holdings Corp bought a new position in Owens Corning during the second quarter worth about $76,000. Finally, NEXT Financial Group Inc boosted its position in Owens Corning by 105.1% during the second quarter. NEXT Financial Group Inc now owns 1,641 shares of the construction company’s stock worth $96,000 after purchasing an additional 841 shares during the period. Institutional investors own 97.83% of the company’s stock.

Owens Corning Company Profile

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial 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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Analyst Recommendations for Owens Corning (NYSE:OC)

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