Evercore ISI Increases Owens Corning (NYSE:OC) Price Target to $172.00

Owens Corning (NYSE:OC) had its target price raised by equities researchers at Evercore ISI from $154.00 to $172.00 in a report released on Thursday, Benzinga reports. The firm currently has an “in-line” rating on the construction company’s stock. Evercore ISI’s price objective suggests a potential upside of 2.05% from the stock’s current price.

OC has been the subject of a number of other reports. Royal Bank of Canada cut their price target on Owens Corning from $183.00 to $175.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Citigroup boosted their price target on Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. UBS Group cut their price target on Owens Corning from $175.00 to $169.00 and set a “buy” rating for the company in a report on Thursday, February 15th. Barclays cut Owens Corning from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $170.00 to $160.00 in a report on Monday, February 12th. Finally, Truist Financial boosted their price target on Owens Corning from $115.00 to $145.00 and gave the stock a “hold” rating in a report on Thursday, February 15th. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $168.21.

Owens Corning Stock Performance

Shares of OC stock opened at $168.55 on Thursday. The stock has a fifty day moving average price of $159.88 and a 200 day moving average price of $146.32. The stock has a market cap of $14.66 billion, a PE ratio of 13.65, a P/E/G ratio of 6.98 and a beta of 1.47. Owens Corning has a 1 year low of $99.49 and a 1 year high of $173.65. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.76.

Owens Corning (NYSE:OC) last issued 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 return on equity of 26.52% and a net margin of 11.53%. Owens Corning’s revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.77 earnings per share. Sell-side analysts forecast that Owens Corning will post 13.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the business’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 completion of the sale, the executive vice president now owns 20,419 shares of the company’s stock, valued at $3,307,878. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the business’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 completion of the sale, the executive vice president now owns 20,419 shares of the company’s stock, valued at $3,307,878. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gunner Smith sold 7,442 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $148.99, for a total value of $1,108,783.58. Following the sale, the insider now directly owns 36,140 shares of the company’s stock, valued at approximately $5,384,498.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,672 shares of company stock valued at $3,325,799. Company insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Owens Corning by 0.8% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,130 shares of the construction company’s stock worth $1,205,000 after buying an additional 67 shares during the period. Avantax Advisory Services Inc. lifted its stake in shares of Owens Corning by 2.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,082 shares of the construction company’s stock worth $457,000 after acquiring an additional 69 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Owens Corning by 7.5% in the first quarter. GAMMA Investing LLC now owns 1,104 shares of the construction company’s stock worth $184,000 after acquiring an additional 77 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Owens Corning by 42.2% in the fourth quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock worth $36,000 after acquiring an additional 78 shares in the last quarter. Finally, Caprock Group LLC lifted its stake in shares of Owens Corning by 3.7% in the fourth quarter. Caprock Group LLC now owns 2,214 shares of the construction company’s stock worth $328,000 after acquiring an additional 79 shares in the last quarter. Hedge funds and other institutional investors 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.