Owens Corning (OC) PT Set at $58.00 by Barclays

Owens Corning (NYSE:OC) has been given a $58.00 price target by investment analysts at Barclays in a report issued on Tuesday, February 5th. The brokerage presently has a “buy” rating on the construction company’s stock. Barclays‘s target price points to a potential upside of 15.65% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. Credit Suisse Group decreased their price target on shares of Owens Corning from $57.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, October 25th. Zacks Investment Research lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, January 8th. SunTrust Banks cut their price target on Owens Corning to $45.00 and set a “positive” rating for the company in a research note on Thursday, October 25th. Seaport Global Securities downgraded shares of Owens Corning from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 24th. Finally, TheStreet downgraded shares of Owens Corning from a “b-” rating to a “c+” rating in a research note on Tuesday, October 30th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $69.12.

OC stock traded up $0.22 during trading on Tuesday, reaching $50.15. The company had a trading volume of 1,717,217 shares, compared to its average volume of 1,433,031. The company has a market cap of $5.60 billion, a P/E ratio of 10.15, a PEG ratio of 0.80 and a beta of 1.32. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.58 and a quick ratio of 0.87. Owens Corning has a 52 week low of $40.64 and a 52 week high of $84.56.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, February 20th. The construction company reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.09. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Owens Corning had a net margin of 7.72% and a return on equity of 12.92%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.11 earnings per share. On average, equities research analysts expect that Owens Corning will post 5.01 earnings per share for the current fiscal year.

In other news, VP Daniel T. Smith sold 18,681 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $50.75, for a total value of $948,060.75. Following the transaction, the vice president now owns 74,891 shares of the company’s stock, valued at $3,800,718.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Owens Corning by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 9,479,115 shares of the construction company’s stock worth $514,432,000 after buying an additional 58,689 shares in the last quarter. Vanguard Group Inc grew its stake in Owens Corning by 0.6% in the 3rd quarter. Vanguard Group Inc now owns 9,479,115 shares of the construction company’s stock valued at $514,432,000 after buying an additional 58,689 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Owens Corning by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,164,180 shares of the construction company’s stock valued at $139,161,000 after buying an additional 92,537 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Owens Corning by 13.2% during the 4th quarter. Victory Capital Management Inc. now owns 3,121,717 shares of the construction company’s stock valued at $137,293,000 after purchasing an additional 362,922 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Owens Corning by 46.6% during the 3rd quarter. Wells Fargo & Company MN now owns 2,981,084 shares of the construction company’s stock valued at $161,784,000 after purchasing an additional 947,108 shares in the last quarter. Institutional investors and hedge funds own 87.67% of the company’s stock.

About Owens Corning

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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