Owens Corning (NYSE:OC) Raised to “Buy” at StockNews.com

Owens Corning (NYSE:OC) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Other equities research analysts have also recently issued research reports about the stock. The Goldman Sachs Group increased their price target on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday. Benchmark reiterated a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Wells Fargo & Company upped their target price on shares of Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a research note on Thursday. Royal Bank of Canada lifted their target price on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Evercore ISI boosted their price target on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.62.

Owens Corning Stock Up 1.6 %

Shares of NYSE:OC opened at $190.44 on Friday. The firm has a market capitalization of $16.56 billion, a P/E ratio of 16.21, a P/E/G ratio of 2.27 and a beta of 1.41. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.79 and a current ratio of 1.44. The stock has a 50 day moving average price of $175.83 and a 200-day moving average price of $173.64. Owens Corning has a 52-week low of $121.08 and a 52-week high of $193.93.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.01 by $0.37. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period last year, the company posted $4.15 EPS. Owens Corning’s revenue was up 22.9% on a year-over-year basis. As a group, equities research analysts anticipate that Owens Corning will post 15.34 EPS for the current fiscal year.

Insider Activity at Owens Corning

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

Institutional Investors Weigh In On Owens Corning

A number of institutional investors and hedge funds have recently modified their holdings of OC. SG Americas Securities LLC lifted its holdings in shares of Owens Corning by 102.0% in the 2nd quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock valued at $7,214,000 after buying an additional 20,971 shares during the period. State Board of Administration of Florida Retirement System grew its position in Owens Corning by 14.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 112,356 shares of the construction company’s stock valued at $18,741,000 after buying an additional 14,011 shares during the period. Ontario Teachers Pension Plan Board purchased a new position in Owens Corning in the first quarter valued at $997,000. Twin Tree Management LP boosted its stake in shares of Owens Corning by 61.8% during the 1st quarter. Twin Tree Management LP now owns 8,997 shares of the construction company’s stock worth $1,501,000 after acquiring an additional 3,436 shares in the last quarter. Finally, Verus Capital Partners LLC purchased a new position in shares of Owens Corning in the 1st quarter valued at about $539,000. 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.