StockNews.com Lowers Owens Corning (NYSE:OC) to Hold

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

Several other research firms have also commented on OC. The Goldman Sachs Group reissued a “neutral” rating and issued a $187.00 target price on shares of Owens Corning in a report on Monday, June 17th. Benchmark restated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and lifted their price target for the company from $178.00 to $191.00 in a research note on Thursday, July 11th. UBS Group lifted their target price on Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada increased their target price on shares of Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $184.23.

Owens Corning Stock Performance

Owens Corning stock traded down $1.98 during midday trading on Tuesday, hitting $174.54. The company’s stock had a trading volume of 541,663 shares, compared to its average volume of 677,886. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. The company has a market cap of $15.13 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 3.47 and a beta of 1.41. Owens Corning has a 1-year low of $109.95 and a 1-year high of $191.13. The company has a 50-day moving average price of $167.32 and a two-hundred day moving average price of $170.44.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, topping analysts’ consensus estimates of $4.37 by $0.27. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.92 billion. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The company’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the company earned $4.22 EPS. As a group, sell-side analysts predict that Owens Corning will post 15.38 earnings per share for the current year.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the sale, the insider now owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the sale, the insider now owns 57,079 shares of the company’s stock, valued at $10,074,443.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the sale, the insider now owns 60,130 shares of the company’s stock, valued at $10,222,100. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Owens Corning

Several institutional investors have recently added to or reduced their stakes in OC. MV Capital Management Inc. increased its position in Owens Corning by 112.9% in the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after buying an additional 79 shares in the last quarter. ST Germain D J Co. Inc. raised its position in shares of Owens Corning by 794.1% during the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after purchasing an additional 135 shares during the period. NBC Securities Inc. bought a new position in shares of Owens Corning in the 1st quarter worth $26,000. Riverview Trust Co acquired a new stake in Owens Corning in the 1st quarter valued at $28,000. Finally, ORG Partners LLC bought a new stake in Owens Corning during the 1st quarter valued at $31,000. 88.40% of the stock is owned by institutional investors and hedge funds.

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.