UBS Group Issues Pessimistic Forecast for Owens Corning (NYSE:OC) Stock Price

Owens Corning (NYSE:OC) had its price target reduced by equities researchers at UBS Group from $245.00 to $235.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. UBS Group’s price objective would suggest a potential upside of 52.68% from the stock’s current price.

OC has been the topic of several other reports. Evercore ISI increased their target price on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Barclays upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $192.00 to $245.00 in a research note on Wednesday, December 11th. Royal Bank of Canada lifted their price target on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company cut their price target on Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.00.

Owens Corning Stock Performance

NYSE OC opened at $153.92 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The business’s 50 day moving average is $176.07 and its two-hundred day moving average is $178.84. Owens Corning has a 12-month low of $147.20 and a 12-month high of $214.53. The stock has a market capitalization of $13.20 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 1.88 and a beta of 1.46.

Owens Corning (NYSE:OC) last announced its earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the prior year, the firm earned $3.21 EPS. Owens Corning’s quarterly revenue was up 23.3% on a year-over-year basis. Research analysts expect that Owens Corning will post 15.49 EPS for the current year.

Insider Activity at Owens Corning

In related news, insider Gunner Smith sold 17,450 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the completion of the sale, the insider now owns 18,866 shares in the company, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the transaction, the insider now directly owns 11,635 shares of the company’s stock, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Institutional Trading of Owens Corning

A number of hedge funds and other institutional investors have recently modified their holdings of OC. Creative Planning boosted its stake in Owens Corning by 16.4% in the third quarter. Creative Planning now owns 9,789 shares of the construction company’s stock valued at $1,728,000 after acquiring an additional 1,379 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Owens Corning in the 3rd quarter valued at $156,000. Forsta AP Fonden increased its stake in Owens Corning by 18.6% in the 3rd quarter. Forsta AP Fonden now owns 24,900 shares of the construction company’s stock valued at $4,395,000 after buying an additional 3,900 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. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Owens Corning by 3.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,793 shares of the construction company’s stock worth $1,199,000 after purchasing an additional 211 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

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.