Owens Corning (NYSE:OC) Given New $215.00 Price Target at Barclays

Owens Corning (NYSE:OC) had its price objective reduced by equities researchers at Barclays from $245.00 to $215.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. Barclays‘s price target points to a potential upside of 35.43% from the company’s current price.

Several other research firms also recently weighed in on OC. UBS Group dropped their price target on Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday. The Goldman Sachs Group upped their target price on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday. Loop Capital dropped their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Royal Bank of Canada cut their price objective on Owens Corning from $224.00 to $212.00 and set an “outperform” rating for the company in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $207.00.

Owens Corning Stock Down 2.5 %

Shares of OC stock opened at $158.75 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. Owens Corning has a one year low of $145.50 and a one year high of $214.53. The company’s fifty day moving average price is $176.48 and its 200-day moving average price is $179.01. The company has a market capitalization of $13.62 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 1.88 and a beta of 1.46.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same period last year, the firm earned $3.21 earnings per share. The business’s quarterly revenue was up 23.3% on a year-over-year basis. Sell-side analysts expect that Owens Corning will post 15.49 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 18,866 shares in the company, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Institutional Trading of Owens Corning

A number of hedge funds and other institutional investors have recently bought and sold shares of OC. International Assets Investment Management LLC bought a new position in Owens Corning in the third quarter worth approximately $156,000. Forsta AP Fonden raised its holdings in Owens Corning by 18.6% in the third quarter. Forsta AP Fonden now owns 24,900 shares of the construction company’s stock worth $4,395,000 after purchasing an additional 3,900 shares in the last quarter. PFG Investments LLC boosted 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 valued at $323,000 after buying an additional 68 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Owens Corning by 3.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,793 shares of the construction company’s stock worth $1,199,000 after buying an additional 211 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Owens Corning by 132.5% during the third quarter. Nisa Investment Advisors LLC now owns 11,893 shares of the construction company’s stock valued at $2,099,000 after acquiring an additional 6,778 shares during 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.