Owens Corning (NYSE:OC) Price Target Lowered to $210.00 at Loop Capital

Owens Corning (NYSE:OC) had its price target lowered by stock analysts at Loop Capital from $215.00 to $210.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Loop Capital’s target price would indicate a potential upside of 25.48% from the stock’s previous close.

A number of other equities research analysts also recently commented on the stock. Citigroup reduced their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. UBS Group raised their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Royal Bank of Canada increased their target price on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Evercore ISI increased their target price on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and nine have assigned 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 $201.75.

Owens Corning Price Performance

Shares of OC opened at $167.36 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The company has a market capitalization of $14.36 billion, a price-to-earnings ratio of 14.24, a price-to-earnings-growth ratio of 2.14 and a beta of 1.46. Owens Corning has a fifty-two week low of $138.70 and a fifty-two week high of $214.53. The firm has a 50-day simple moving average of $186.88 and a 200-day simple moving average of $177.15.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating analysts’ consensus estimates of $4.05 by $0.33. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm’s revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the firm earned $4.15 earnings per share. On average, equities research analysts anticipate that Owens Corning will post 15.46 earnings per share for the current year.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction that occurred on 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 directly owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.89% of the company’s stock.

Institutional Trading of Owens Corning

Hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its holdings in shares of Owens Corning by 95.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 11,908 shares of the construction company’s stock valued at $2,069,000 after acquiring an additional 5,815 shares in the last quarter. TD Asset Management Inc lifted its holdings in Owens Corning by 81.6% in the 2nd quarter. TD Asset Management Inc now owns 15,675 shares of the construction company’s stock worth $2,723,000 after buying an additional 7,045 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Owens Corning in the 2nd quarter worth $167,000. Wedbush Securities Inc. lifted its holdings in Owens Corning by 6.8% in the 2nd quarter. Wedbush Securities Inc. now owns 2,160 shares of the construction company’s stock worth $375,000 after buying an additional 137 shares in the last quarter. Finally, Choreo LLC acquired a new position in Owens Corning in the 2nd quarter worth $384,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

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.