Jefferies Financial Group Cuts Owens Corning (NYSE:OC) Price Target to $180.00

Owens Corning (NYSE:OC) had its price target cut by Jefferies Financial Group from $185.00 to $180.00 in a research report report published on Tuesday, MarketBeat Ratings reports. They currently have a buy rating on the construction company’s stock.

OC has been the subject of a number of other research reports. Weiss Ratings restated a “hold (c)” rating on shares of Owens Corning in a research report on Saturday, September 27th. UBS Group decreased their price target on Owens Corning from $218.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Royal Bank Of Canada decreased their price target on Owens Corning from $184.00 to $180.00 and set an “outperform” rating on the stock in a research note on Thursday, August 7th. Bank of America decreased their price target on Owens Corning from $180.00 to $168.00 and set a “buy” rating on the stock in a research note on Wednesday, October 1st. Finally, Barclays lifted their price target on Owens Corning from $167.00 to $173.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and a consensus target price of $178.31.

Owens Corning Stock Performance

NYSE:OC opened at $129.61 on Tuesday. The business has a 50 day moving average of $146.71 and a 200 day moving average of $142.10. The company has a market capitalization of $10.84 billion, a price-to-earnings ratio of 33.66, a PEG ratio of 9.62 and a beta of 1.32. Owens Corning has a 1-year low of $123.40 and a 1-year high of $214.53. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.52 and a quick ratio of 0.95.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, August 6th. The construction company reported $4.21 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.41. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. Owens Corning had a return on equity of 24.49% and a net margin of 2.98%.Owens Corning’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.64 EPS. On average, sell-side analysts predict that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Monday, October 20th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, October 20th. Owens Corning’s dividend payout ratio is presently 71.69%.

Institutional Investors Weigh In On Owens Corning

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OC. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Owens Corning in the second quarter worth $26,000. Bangor Savings Bank purchased a new stake in shares of Owens Corning in the second quarter worth $28,000. Rexford Capital Inc. purchased a new stake in shares of Owens Corning in the second quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Owens Corning in the second quarter worth $30,000. Finally, Vermillion & White Wealth Management Group LLC grew its stake in shares of Owens Corning by 149.4% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 222 shares of the construction company’s stock worth $31,000 after acquiring an additional 133 shares during the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

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.