Argus Increases Owens Corning (NYSE:OC) Price Target to $182.00

Owens Corning (NYSE:OC) had its target price boosted by Argus from $175.00 to $182.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Argus’ price target would indicate a potential upside of 7.98% from the company’s previous close.

OC has been the subject of several other research reports. UBS Group increased their target price on shares of Owens Corning from $169.00 to $192.00 and gave the stock a “buy” rating in a research note on Thursday. Truist Financial increased their target price on shares of Owens Corning from $115.00 to $145.00 and gave the stock a “hold” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. lowered their target price on shares of Owens Corning from $164.00 to $163.00 and set a “neutral” rating for the company in a research note on Tuesday, February 20th. Barclays lowered shares of Owens Corning from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $170.00 to $160.00 in a research note on Monday, February 12th. Finally, Loop Capital increased their target price on shares of Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Eight 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $168.21.

Owens Corning Price Performance

Owens Corning stock opened at $168.55 on Thursday. Owens Corning has a 12-month low of $99.49 and a 12-month high of $173.65. The stock has a market cap of $14.66 billion, a P/E ratio of 13.65, a PEG ratio of 6.98 and a beta of 1.47. The company has a 50-day moving average price of $159.88 and a 200 day moving average price of $146.32. The company has a current ratio of 1.76, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.55. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. Owens Corning’s revenue was down 1.3% compared to the same quarter last year. During the same period last year, the business earned $2.77 earnings per share. Sell-side analysts anticipate that Owens Corning will post 13.92 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Brian Chambers sold 9,100 shares of Owens Corning stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $153.57, for a total value of $1,397,487.00. Following the completion of the transaction, the chief executive officer now owns 269,696 shares in the company, valued at $41,417,214.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Owens Corning news, CEO Brian Chambers sold 9,100 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the sale, the chief executive officer now owns 269,696 shares of the company’s stock, valued at $41,417,214.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Paula Russell sold 3,765 shares of the firm’s stock in a transaction that occurred on 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 directly owns 20,419 shares in the company, valued at approximately $3,307,878. The disclosure for this sale can be found here. Insiders sold 21,672 shares of company stock worth $3,325,799 over the last 90 days. 0.89% of the stock is owned by insiders.

Institutional Trading of Owens Corning

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OC. AE Wealth Management LLC acquired a new position in shares of Owens Corning in the 3rd quarter valued at $1,749,000. IFP Advisors Inc increased its holdings in shares of Owens Corning by 59.8% in the 3rd quarter. IFP Advisors Inc now owns 390 shares of the construction company’s stock valued at $53,000 after acquiring an additional 146 shares during the period. Global Retirement Partners LLC increased its holdings in shares of Owens Corning by 17.2% in the 3rd quarter. Global Retirement Partners LLC now owns 1,054 shares of the construction company’s stock valued at $140,000 after acquiring an additional 155 shares during the period. DAVENPORT & Co LLC increased its holdings in shares of Owens Corning by 12.4% in the 3rd quarter. DAVENPORT & Co LLC now owns 3,688 shares of the construction company’s stock valued at $503,000 after acquiring an additional 406 shares during the period. Finally, UMB Bank n.a. increased its holdings in shares of Owens Corning by 26.4% in the 3rd quarter. UMB Bank n.a. now owns 469 shares of the construction company’s stock valued at $64,000 after acquiring an additional 98 shares during the period. 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.