Owens Corning (NYSE:OC) Upgraded to Strong-Buy at StockNews.com

Owens Corning (NYSE:OC) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday.

OC has been the subject of a number of other reports. Argus increased their price objective on shares of Owens Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Jefferies Financial Group started coverage on Owens Corning in a report on Wednesday, May 22nd. They set a “buy” rating and a $215.00 price target on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $187.00 price objective on shares of Owens Corning in a research note on Monday, June 17th. Evercore ISI lifted their target price on Owens Corning from $154.00 to $172.00 and gave the company an “in-line” rating in a research note on Thursday, April 25th. Finally, Loop Capital upped their price target on Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $179.00.

Owens Corning Trading Down 0.3 %

NYSE:OC opened at $173.40 on Thursday. Owens Corning has a one year low of $109.95 and a one year high of $184.00. The business has a fifty day moving average price of $174.98 and a 200-day moving average price of $161.26. The firm has a market capitalization of $15.03 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 5.18 and a beta of 1.46. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 1.22.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.55. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the company posted $2.77 earnings per share. Owens Corning’s revenue for the quarter was down 1.3% on a year-over-year basis. Sell-side analysts forecast that Owens Corning will post 15.48 EPS for the current year.

Insider Buying and Selling at Owens Corning

In related news, insider Marcio A. Sandri sold 9,697 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $178.00, for a total value of $1,726,066.00. Following the transaction, the insider now owns 62,895 shares of the company’s stock, valued at $11,195,310. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Monaco Nicolas Del sold 3,423 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $176.47, for a total value of $604,056.81. Following the completion of the sale, the insider now owns 11,381 shares in the company, valued at approximately $2,008,405.07. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Marcio A. Sandri sold 9,697 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $178.00, for a total transaction of $1,726,066.00. Following the transaction, the insider now owns 62,895 shares in the company, valued at $11,195,310. The disclosure for this sale can be found here. Insiders sold a total of 16,360 shares of company stock valued at $2,916,365 in the last three months. Company insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

A number of institutional investors have recently added to or reduced their stakes in the stock. MV Capital Management Inc. increased its position in shares of Owens Corning by 112.9% during the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after purchasing an additional 79 shares in the last quarter. NBC Securities Inc. acquired a new stake in Owens Corning in the first quarter worth about $26,000. Contravisory Investment Management Inc. acquired a new stake in Owens Corning in the fourth quarter worth about $27,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Owens Corning during the fourth quarter worth about $27,000. Finally, Riverview Trust Co purchased a new position in shares of Owens Corning in the 1st quarter valued at approximately $28,000. 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.