Owens Corning (NYSE:OC) Stock Rating Upgraded by StockNews.com

Owens Corning (NYSE:OC) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada lifted their price objective on Owens Corning from $192.00 to $201.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Barclays raised their target price on Owens Corning from $160.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, June 3rd. Jefferies Financial Group assumed coverage on Owens Corning in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $215.00 target price on the stock. Citigroup raised their target price on Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $187.00 price objective on shares of Owens Corning in a research report on Monday, June 17th. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $179.00.

Owens Corning Trading Up 1.1 %

NYSE OC opened at $173.71 on Thursday. The stock’s 50-day simple moving average is $175.48 and its two-hundred day simple moving average is $161.54. Owens Corning has a twelve month low of $109.95 and a twelve month high of $184.00. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $15.05 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 5.16 and a beta of 1.46.

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 firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.28 billion. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.77 earnings per share. Research analysts forecast that Owens Corning will post 15.48 EPS for the current fiscal year.

Insider Buying and Selling

In other Owens Corning news, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $180.85, for a total transaction of $542,550.00. Following the completion of the sale, the chief financial officer now directly owns 34,626 shares in the company, valued at approximately $6,262,112.10. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, VP Mari Doerfler sold 240 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $182.05, for a total transaction of $43,692.00. Following the completion of the sale, the vice president now owns 4,954 shares of the company’s stock, valued at approximately $901,875.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Todd W. Fister sold 3,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $180.85, for a total transaction of $542,550.00. Following the transaction, the chief financial officer now directly owns 34,626 shares of the company’s stock, valued at approximately $6,262,112.10. The disclosure for this sale can be found here. Insiders sold a total of 16,360 shares of company stock worth $2,916,365 in the last three months. Insiders own 0.89% of the company’s stock.

Institutional Trading of Owens Corning

Several hedge funds have recently made changes to their positions in OC. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in 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 worth $1,205,000 after purchasing an additional 67 shares during the period. Avantax Advisory Services Inc. raised its position in Owens Corning by 2.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,082 shares of the construction company’s stock worth $457,000 after purchasing an additional 69 shares during the period. GAMMA Investing LLC raised its position in Owens Corning by 7.5% in the 1st quarter. GAMMA Investing LLC now owns 1,104 shares of the construction company’s stock worth $184,000 after purchasing an additional 77 shares during the period. Blue Trust Inc. raised its position in Owens Corning by 42.2% in the 4th quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock worth $36,000 after purchasing an additional 78 shares during the period. Finally, Bessemer Group Inc. grew its stake in Owens Corning by 24.9% in the 1st quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock worth $65,000 after acquiring an additional 78 shares in the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Company Profile

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.