Barclays Lowers Owens Corning (NYSE:OC) Price Target to $135.00

Owens Corning (NYSE:OC) had its price target cut by stock analysts at Barclays from $138.00 to $135.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. Barclays‘s price target would indicate a potential upside of 17.44% from the company’s previous close.

A number of other brokerages have also issued reports on OC. Wells Fargo & Company increased their price objective on shares of Owens Corning from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, February 11th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Owens Corning in a report on Friday, March 27th. Royal Bank Of Canada set a $143.00 price objective on shares of Owens Corning in a report on Friday, January 9th. Zacks Research lowered shares of Owens Corning from a “hold” rating to a “strong sell” rating in a report on Monday, March 16th. Finally, Argus raised shares of Owens Corning to a “strong-buy” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.73.

Owens Corning Price Performance

NYSE OC opened at $114.95 on Wednesday. Owens Corning has a 12 month low of $97.53 and a 12 month high of $159.42. The stock has a market cap of $9.24 billion, a price-to-earnings ratio of -17.96, a PEG ratio of 1.83 and a beta of 1.35. The company’s 50 day moving average is $117.46 and its two-hundred day moving average is $118.99. The company has a current ratio of 1.26, a quick ratio of 0.70 and a debt-to-equity ratio of 1.20.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, February 25th. The construction company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.26). Owens Corning had a positive return on equity of 21.93% and a negative net margin of 5.17%.The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the previous year, the business posted $3.22 EPS. Owens Corning’s revenue was down 16.8% on a year-over-year basis. As a group, research analysts anticipate that Owens Corning will post 15.49 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Rexford Capital Inc. purchased a new position in shares of Owens Corning in the second quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Owens Corning in the second quarter valued at $30,000. Itau Unibanco Holding S.A. purchased a new position in shares of Owens Corning in the fourth quarter valued at $29,000. Root Financial Partners LLC purchased a new position in shares of Owens Corning in the third quarter valued at $39,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of Owens Corning in the third quarter valued at $42,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Company Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.