Owens Corning (NYSE:OC) Receives “Neutral” Rating from The Goldman Sachs Group

The Goldman Sachs Group reiterated their neutral rating on shares of Owens Corning (NYSE:OC) in a report published on Monday, MarketBeat Ratings reports. They currently have a $187.00 price objective on the construction company’s stock.

OC has been the subject of a number of other reports. UBS Group boosted their target price on Owens Corning from $169.00 to $192.00 and gave the company a buy rating in a research note on Thursday, April 25th. Loop Capital boosted their price objective on Owens Corning from $167.00 to $188.00 and gave the company a buy rating in a research report on Monday, April 1st. Citigroup raised their target price on shares of Owens Corning from $150.00 to $169.00 and gave the stock a neutral rating in a report on Friday, April 5th. JPMorgan Chase & Co. reduced their price target on shares of Owens Corning from $164.00 to $163.00 and set a neutral rating for the company in a report on Tuesday, February 20th. Finally, Argus raised their price objective on shares of Owens Corning from $175.00 to $182.00 and gave the stock a buy rating in a report on Thursday, April 25th. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $177.07.

Owens Corning Trading Up 0.3 %

OC opened at $177.16 on Monday. Owens Corning has a 1-year low of $109.95 and a 1-year high of $184.00. The stock has a market capitalization of $15.35 billion, a PE ratio of 14.34, a PEG ratio of 5.26 and a beta of 1.46. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $173.28 and a two-hundred day moving average price of $159.29.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, topping 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 firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the previous year, the business posted $2.77 EPS. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. As a group, equities analysts anticipate that Owens Corning will post 15.48 earnings per share for the current fiscal year.

Insider Activity

In other Owens Corning news, VP Mari Doerfler sold 240 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total value of $43,692.00. Following the completion of the transaction, the vice president now owns 4,954 shares in the company, valued at approximately $901,875.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Owens Corning news, VP Mari Doerfler sold 240 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $182.05, for a total value of $43,692.00. Following the transaction, the vice president now directly owns 4,954 shares in the company, valued at $901,875.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Marcio A. Sandri sold 9,697 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $178.00, for a total transaction of $1,726,066.00. Following the sale, the insider now owns 62,895 shares of the company’s stock, valued at approximately $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 over the last three months. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Owens Corning

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OC. Hsbc Holdings PLC grew its position in shares of Owens Corning by 66.0% in the fourth quarter. Hsbc Holdings PLC now owns 213,643 shares of the construction company’s stock valued at $31,692,000 after purchasing an additional 84,958 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Owens Corning by 11.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 42,827 shares of the construction company’s stock worth $6,348,000 after purchasing an additional 4,259 shares during the period. Campbell & CO Investment Adviser LLC grew its holdings in Owens Corning by 452.5% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 19,129 shares of the construction company’s stock valued at $2,835,000 after buying an additional 15,667 shares in the last quarter. EMG Holdings L.P. bought a new stake in shares of Owens Corning during the fourth quarter valued at about $5,336,000. Finally, Bridgefront Capital LLC purchased a new stake in shares of Owens Corning in the fourth quarter worth about $910,000. 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.