Owens Corning (NYSE:OC) Given New $100.00 Price Target at Barclays

Owens Corning (NYSE:OCGet Rating) had its price objective lowered by analysts at Barclays from $111.00 to $100.00 in a research note issued on Thursday, The Fly reports. Barclays‘s price target suggests a potential upside of 11.58% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Owens Corning from a “buy” rating to a “hold” rating and set a $91.00 price objective for the company. in a report on Tuesday, April 19th. Bank of America boosted their price target on shares of Owens Corning from $112.00 to $119.00 and gave the stock a “buy” rating in a report on Thursday, February 17th. Truist Financial cut shares of Owens Corning from a “buy” rating to a “hold” rating and cut their price target for the stock from $115.00 to $85.00 in a report on Tuesday, April 5th. Jefferies Financial Group boosted their price target on shares of Owens Corning from $136.00 to $144.00 and gave the stock a “buy” rating in a report on Thursday, February 17th. Finally, UBS Group initiated coverage on shares of Owens Corning in a research report on Wednesday, January 19th. They issued a “buy” rating and a $122.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Owens Corning has a consensus rating of “Hold” and a consensus target price of $108.75.

Shares of NYSE OC opened at $89.62 on Thursday. Owens Corning has a twelve month low of $79.35 and a twelve month high of $109.89. The firm has a fifty day simple moving average of $90.41 and a 200 day simple moving average of $90.94. The company has a market capitalization of $8.88 billion, a PE ratio of 9.40, a P/E/G ratio of 0.60 and a beta of 1.47. The company has a quick ratio of 1.19, a current ratio of 1.83 and a debt-to-equity ratio of 0.68.

Owens Corning (NYSE:OCGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The construction company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.41. Owens Corning had a net margin of 11.71% and a return on equity of 22.58%. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the previous year, the firm posted $1.73 earnings per share. The business’s revenue was up 22.5% compared to the same quarter last year. As a group, equities analysts expect that Owens Corning will post 10.38 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of OC. Norges Bank purchased a new position in Owens Corning in the 4th quarter worth approximately $95,105,000. Nordea Investment Management AB grew its stake in Owens Corning by 23.6% in the 4th quarter. Nordea Investment Management AB now owns 3,653,227 shares of the construction company’s stock worth $328,937,000 after buying an additional 696,841 shares in the last quarter. FMR LLC grew its stake in Owens Corning by 509.6% in the 1st quarter. FMR LLC now owns 693,589 shares of the construction company’s stock worth $32,682,000 after buying an additional 579,805 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in Owens Corning by 155.2% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 920,385 shares of the construction company’s stock worth $78,693,000 after buying an additional 559,700 shares in the last quarter. Finally, State Street Corp grew its stake in Owens Corning by 9.2% in the 4th quarter. State Street Corp now owns 4,890,796 shares of the construction company’s stock worth $442,617,000 after buying an additional 413,742 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

Owens Corning Company Profile (Get Rating)

Owens Corning manufactures and markets insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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