Owens Corning (NYSE:OC) Earns Buy Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Owens Corning (NYSE:OC) in a research note issued to investors on Wednesday, Marketbeat reports. The firm issued a buy rating and a $215.00 target price on the construction company’s stock.

Several other research analysts also recently commented on the company. JPMorgan Chase & Co. reduced their price objective on Owens Corning from $164.00 to $163.00 and set a neutral rating for the company in a research note on Tuesday, February 20th. Citigroup increased their price objective on Owens Corning from $150.00 to $169.00 and gave the company a neutral rating in a research note on Friday, April 5th. Argus increased their price objective on Owens Corning from $175.00 to $182.00 and gave the company a buy rating in a research note on Thursday, April 25th. Royal Bank of Canada upped their target price on Owens Corning from $192.00 to $201.00 and gave the company an outperform rating in a report on Tuesday. Finally, UBS Group upped their target price on Owens Corning from $169.00 to $192.00 and gave the company a buy rating in a report on Thursday, April 25th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Owens Corning presently has an average rating of Moderate Buy and an average price target of $172.07.

Owens Corning Trading Up 2.7 %

Owens Corning stock opened at $181.52 on Wednesday. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.50. Owens Corning has a 12 month low of $105.56 and a 12 month high of $181.60. The stock’s 50 day simple moving average is $169.59 and its two-hundred day simple moving average is $153.76. The firm has a market cap of $15.73 billion, a PE ratio of 14.70, a P/E/G ratio of 5.26 and a beta of 1.45.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, topping the consensus estimate of $3.04 by $0.55. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.28 billion. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.77 EPS. Analysts anticipate that Owens Corning will post 15.48 earnings per share for the current year.

Insider Transactions at Owens Corning

In other news, EVP Paula Russell sold 3,765 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the sale, the executive vice president now owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Paula Russell sold 3,765 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the sale, the executive vice president now owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Monaco Nicolas Del sold 3,423 shares of Owens Corning stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $176.47, for a total value of $604,056.81. Following the transaction, the insider now directly owns 11,381 shares in the company, valued at approximately $2,008,405.07. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Owens Corning by 0.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,130 shares of the construction company’s stock valued at $1,205,000 after purchasing an additional 67 shares during the last quarter. Avantax Advisory Services Inc. grew its stake in shares of Owens Corning by 2.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,082 shares of the construction company’s stock valued at $457,000 after purchasing an additional 69 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Owens Corning by 7.5% in the 1st quarter. GAMMA Investing LLC now owns 1,104 shares of the construction company’s stock valued at $184,000 after purchasing an additional 77 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Owens Corning by 42.2% in the 4th quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock valued at $36,000 after purchasing an additional 78 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of Owens Corning by 24.9% in the 1st quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock valued at $65,000 after purchasing an additional 78 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

About Owens Corning

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.