Owens Corning (NYSE:OC – Get Free Report) had its target price reduced by research 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 suggest a potential upside of 25.48% from the company’s previous close.
Other equities research analysts also recently issued reports about the company. The Goldman Sachs Group increased their price target on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $192.00 to $245.00 in a research report on Wednesday, December 11th. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Citigroup dropped their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Evercore ISI raised their target price on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $201.75.
Read Our Latest Analysis on OC
Owens Corning Stock Performance
Owens Corning (NYSE:OC – Get Free Report) last issued its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. The company had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the business posted $4.15 EPS. Equities research analysts predict that Owens Corning will post 15.46 earnings per share for the current fiscal year.
Insider Transactions at Owens Corning
In related news, insider Gunner Smith sold 17,450 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the transaction, the insider now owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.89% of the company’s stock.
Hedge Funds Weigh In On Owens Corning
Hedge funds have recently made changes to their positions in the company. Brooklyn Investment Group purchased a new position in shares of Owens Corning during the third quarter worth about $38,000. Quarry LP grew its holdings in shares of Owens Corning by 165.5% during the second quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after purchasing an additional 144 shares during the last quarter. Tobam grew its holdings in shares of Owens Corning by 38.0% during the third quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after purchasing an additional 73 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Owens Corning by 88.1% during the fourth quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock worth $65,000 after buying an additional 178 shares during the period. Finally, NBC Securities Inc. boosted its stake in shares of Owens Corning by 85.3% during the third quarter. NBC Securities Inc. now owns 515 shares of the construction company’s stock worth $90,000 after buying an additional 237 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.
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