Owens Corning (NYSE:OC) Upgraded by StockNews.com to Buy Rating

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

A number of other research analysts have also recently commented on the stock. Barclays decreased their target price on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. UBS Group raised their target price on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a report on Thursday. Evercore ISI raised 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. Wells Fargo & Company upped their price objective on shares of Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, The Goldman Sachs Group raised their target price on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.62.

Owens Corning Price Performance

Shares of Owens Corning stock opened at $190.44 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.79. The business has a 50 day simple moving average of $175.83 and a two-hundred day simple moving average of $173.64. The stock has a market capitalization of $16.56 billion, a P/E ratio of 16.21, a PEG ratio of 2.27 and a beta of 1.41. Owens Corning has a 12 month low of $121.08 and a 12 month high of $193.93.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $4.01 by $0.37. The firm had revenue of $3.05 billion for 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 company’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period last year, the firm posted $4.15 earnings per share. As a group, analysts predict that Owens Corning will post 15.34 EPS for the current fiscal year.

Insider Activity at Owens Corning

In related news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the transaction, the insider now directly owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares in the company, valued at approximately $10,222,100. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is owned by insiders.

Hedge Funds Weigh In On Owens Corning

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. ST Germain D J Co. Inc. boosted its stake in shares of Owens Corning by 794.1% during the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after buying an additional 135 shares during the last quarter. Innealta Capital LLC acquired a new position in Owens Corning in the second quarter worth $32,000. Tobam increased its stake in Owens Corning by 115.7% during the second quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after purchasing an additional 103 shares during the last quarter. Quarry LP lifted its position in shares of Owens Corning by 165.5% in the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after buying an additional 144 shares during the last quarter. Finally, Friedenthal Financial bought a new stake in shares of Owens Corning during the 2nd quarter valued at about $48,000. 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.