Loop Capital Cuts Owens Corning (NYSE:OC) Price Target to $210.00

Owens Corning (NYSE:OC) had its price target dropped by analysts at Loop Capital from $215.00 to $210.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Loop Capital’s price target would indicate a potential upside of 25.27% from the company’s previous close.

A number of other equities analysts also recently commented on OC. UBS Group increased their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Wells Fargo & Company upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $195.00 to $225.00 in a research note on Tuesday, December 17th. Citigroup decreased their target price on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research report on Monday. Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $192.00 to $245.00 in a research report on Wednesday, December 11th. Finally, The Goldman Sachs Group upped their price objective 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. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Owens Corning presently has a consensus rating of “Moderate Buy” and an average price target of $201.75.

Owens Corning Trading Down 2.3 %

NYSE OC traded down $3.97 during trading hours on Friday, hitting $167.64. The company’s stock had a trading volume of 219,010 shares, compared to its average volume of 487,980. The stock has a fifty day moving average of $187.14 and a 200 day moving average of $177.20. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. Owens Corning has a twelve month low of $138.70 and a twelve month high of $214.53. The firm has a market capitalization of $14.38 billion, a P/E ratio of 14.27, a PEG ratio of 2.14 and a beta of 1.46.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.05 by $0.33. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.15 earnings per share. Equities research analysts forecast that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Insider Activity

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the sale, the insider now directly owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.89% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Owens Corning

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Retirement Guys Formula LLC increased its holdings in Owens Corning by 3.1% during the third quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock worth $342,000 after buying an additional 58 shares during the last quarter. PFG Investments LLC increased its stake in shares of Owens Corning by 3.9% during the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock worth $323,000 after purchasing an additional 68 shares during the last quarter. Tobam raised its holdings in shares of Owens Corning by 38.0% in the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after purchasing an additional 73 shares during the period. First Bank & Trust lifted its stake in Owens Corning by 2.0% in the third quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock valued at $646,000 after purchasing an additional 73 shares during the last quarter. Finally, KMG Fiduciary Partners LLC grew its holdings in Owens Corning by 1.5% during the third quarter. KMG Fiduciary Partners LLC now owns 5,432 shares of the construction company’s stock valued at $959,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors 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.