Owens Corning (NYSE:OC) PT Lowered to $153.00

Posted by on Oct 28th, 2023

Owens Corning (NYSE:OC – Get Free Report) had its price objective lowered by investment analysts at Barclays from $185.00 to $153.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. Barclays‘s price target indicates a potential upside of 37.18% from the stock’s current price.

OC has been the topic of a number of other reports. StockNews.com initiated coverage on Owens Corning in a research note on Thursday, October 5th. They set a “buy” rating on the stock. Benchmark lowered Owens Corning from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. Bank of America upped their price target on Owens Corning from $127.00 to $152.00 in a report on Friday, July 14th. Argus lifted their price objective on Owens Corning from $120.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. Finally, JPMorgan Chase & Co. upgraded shares of Owens Corning from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $95.00 to $133.00 in a research note on Friday, July 28th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and a consensus price target of $138.00.

Read Our Latest Stock Report on OC

Owens Corning Stock Down 2.0 %

NYSE:OC opened at $111.53 on Thursday. The company has a quick ratio of 1.37, a current ratio of 2.16 and a debt-to-equity ratio of 0.59. The stock’s fifty day moving average is $134.04 and its two-hundred day moving average is $125.13. Owens Corning has a 52 week low of $80.24 and a 52 week high of $147.00. The stock has a market capitalization of $10.02 billion, a price-to-earnings ratio of 8.59, a price-to-earnings-growth ratio of 1.04 and a beta of 1.48.

Owens Corning (NYSE:OC – Get Free Report) last released its quarterly earnings results on Wednesday, October 25th. The construction company reported $4.15 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.26. Owens Corning had a return on equity of 25.59% and a net margin of 12.31%. The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the prior year, the firm earned $3.57 earnings per share. The firm’s revenue was down 2.0% compared to the same quarter last year. Research analysts anticipate that Owens Corning will post 13.58 EPS for the current year.

Insiders Place Their Bets

In other news, Director W Howard Morris sold 1,033 shares of Owens Corning stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $141.63, for a total transaction of $146,303.79. Following the sale, the director now owns 40,889 shares in the company, valued at $5,791,109.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Todd W. Fister sold 5,375 shares of Owens Corning stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $136.23, for a total transaction of $732,236.25. Following the sale, the insider now owns 26,067 shares in the company, valued at $3,551,107.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director W Howard Morris sold 1,033 shares of Owens Corning stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $141.63, for a total value of $146,303.79. Following the sale, the director now owns 40,889 shares in the company, valued at approximately $5,791,109.07. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Owens Corning

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Financial Gravity Asset Management Inc. purchased a new position in shares of Owens Corning during the second quarter worth about $911,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Owens Corning during the second quarter worth about $25,000. Financial Management Professionals Inc. purchased a new position in shares of Owens Corning during the third quarter worth about $29,000. First Capital Advisors Group LLC. purchased a new position in shares of Owens Corning during the second quarter worth about $31,000. Finally, IFP Advisors Inc grew its holdings in shares of Owens Corning by 78.1% during the second quarter. IFP Advisors Inc now owns 244 shares of the construction company’s stock worth $32,000 after buying an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 90.22% of the company’s stock.

Owens Corning Company Profile

(Get Free Report)

Owens Corning engages in manufacture and sale of insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, Latin America, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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