Owens Corning (NYSE:OC) Downgraded to Hold Rating by StockNews.com

Owens Corning (NYSE:OC) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Company decreased their price target on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday. Citigroup reduced their price objective on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th. The Goldman Sachs Group upped their target price on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Loop Capital reduced their price target on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, Evercore ISI boosted their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Four 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.00.

Owens Corning Stock Down 2.5 %

Owens Corning stock traded down $4.14 during trading hours on Tuesday, hitting $158.75. 2,362,115 shares of the stock traded hands, compared to its average volume of 783,214. Owens Corning has a one year low of $145.50 and a one year high of $214.53. The company has a market cap of $13.62 billion, a PE ratio of 13.51, a PEG ratio of 1.88 and a beta of 1.46. The firm’s 50-day moving average price is $176.48 and its two-hundred day moving average price is $179.01. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping the consensus estimate of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the previous year, the firm posted $3.21 earnings per share. Owens Corning’s quarterly revenue was up 23.3% on a year-over-year basis. On average, research analysts forecast that Owens Corning will post 15.49 EPS for the current year.

Insider Buying and Selling

In other news, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the sale, the insider now directly owns 18,866 shares in the company, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the transaction, the insider now directly owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Owens Corning

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning raised its holdings in Owens Corning by 16.4% during the 3rd quarter. Creative Planning now owns 9,789 shares of the construction company’s stock valued at $1,728,000 after buying an additional 1,379 shares during the period. International Assets Investment Management LLC bought a new position in Owens Corning during the third quarter valued at $156,000. Forsta AP Fonden raised its stake in shares of Owens Corning by 18.6% in the third quarter. Forsta AP Fonden now owns 24,900 shares of the construction company’s stock valued at $4,395,000 after acquiring an additional 3,900 shares during the period. PFG Investments LLC lifted its holdings in shares of Owens Corning by 3.9% in the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock worth $323,000 after acquiring an additional 68 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Owens Corning by 3.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,793 shares of the construction company’s stock worth $1,199,000 after purchasing an additional 211 shares during the period. 88.40% of the stock is currently 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.