Owens Corning (NYSE:OC) Price Target Raised to $198.00

Owens Corning (NYSE:OC) had its price objective raised by equities research analysts at The Goldman Sachs Group from $178.00 to $198.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 3.97% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Evercore ISI raised their target price on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday. Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and boosted their price target for the company from $178.00 to $191.00 in a report on Thursday, July 11th. Royal Bank of Canada boosted their price target on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday. Wells Fargo & Company boosted their price target on Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, UBS Group boosted their price objective on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $192.62.

Owens Corning Stock Up 1.6 %

Shares of NYSE:OC opened at $190.44 on Thursday. The firm has a market cap of $16.56 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 2.27 and a beta of 1.41. Owens Corning has a 12-month low of $121.08 and a 12-month high of $193.93. The company has a current ratio of 1.44, a quick ratio of 0.79 and a debt-to-equity ratio of 0.89. The stock’s 50-day moving average price is $175.83 and its two-hundred day moving average price is $173.64.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.01 by $0.37. The business had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company’s revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the company posted $4.15 EPS. On average, research analysts forecast that Owens Corning will post 15.34 EPS for the current year.

Insider Activity at Owens Corning

In related news, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the sale, the insider now owns 60,130 shares in the company, valued at $10,222,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the sale, the insider now owns 60,130 shares in the company, valued at $10,222,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the sale, the insider now owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Owens Corning

Several large investors have recently added to or reduced their stakes in the company. Foundry Partners LLC acquired a new position in Owens Corning in the 3rd quarter valued at approximately $611,000. Moran Wealth Management LLC raised its holdings in Owens Corning by 0.5% in the 3rd quarter. Moran Wealth Management LLC now owns 106,547 shares of the construction company’s stock valued at $18,808,000 after acquiring an additional 534 shares in the last quarter. Commerce Bank raised its holdings in Owens Corning by 13.8% in the 3rd quarter. Commerce Bank now owns 3,300 shares of the construction company’s stock valued at $583,000 after acquiring an additional 399 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Owens Corning in the 3rd quarter worth approximately $607,000. Finally, Banque Cantonale Vaudoise raised its holdings in shares of Owens Corning by 20.2% in the 3rd quarter. Banque Cantonale Vaudoise now owns 7,819 shares of the construction company’s stock worth $1,380,000 after buying an additional 1,314 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

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.