Owens Corning (NYSE:OC) Price Target Raised to $182.00 at Argus

Owens Corning (NYSE:OC) had its target price lifted by analysts at Argus from $175.00 to $182.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Argus’ price target indicates a potential upside of 10.60% from the stock’s current price.

A number of other brokerages have also recently weighed in on OC. Barclays cut shares of Owens Corning from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $170.00 to $160.00 in a research report on Monday, February 12th. UBS Group boosted their price objective on shares of Owens Corning from $169.00 to $192.00 and gave the company a “buy” rating in a research report on Thursday. Evercore ISI boosted their price objective on shares of Owens Corning from $154.00 to $172.00 and gave the company an “in-line” rating in a research report on Thursday. Citigroup boosted their price objective on shares of Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Finally, Truist Financial lifted their price target on shares of Owens Corning from $115.00 to $145.00 and gave the company a “hold” rating in a research note on Thursday, February 15th. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $167.00.

Owens Corning Trading Down 0.4 %

OC stock traded down $0.67 during midday trading on Thursday, reaching $164.55. The company’s stock had a trading volume of 171,832 shares, compared to its average volume of 667,316. Owens Corning has a 52 week low of $98.02 and a 52 week high of $173.65. The stock has a market cap of $14.32 billion, a PE ratio of 12.49, a price-to-earnings-growth ratio of 7.08 and a beta of 1.47. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.50. The business’s 50-day simple moving average is $158.41 and its 200-day simple moving average is $145.80.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.55. The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Owens Corning had a net margin of 12.36% and a return on equity of 25.88%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the firm posted $2.77 earnings per share. As a group, sell-side analysts expect that Owens Corning will post 13.92 EPS for the current year.

Insider Buying and Selling

In related news, insider Gunner Smith sold 708 shares of Owens Corning stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $153.73, for a total transaction of $108,840.84. Following the completion of the sale, the insider now owns 39,994 shares of the company’s stock, valued at approximately $6,148,277.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Brian Chambers sold 9,100 shares of Owens Corning stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the completion of the sale, the chief executive officer now owns 269,696 shares of the company’s stock, valued at approximately $41,417,214.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gunner Smith sold 708 shares of Owens Corning stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $153.73, for a total transaction of $108,840.84. Following the sale, the insider now directly owns 39,994 shares of the company’s stock, valued at approximately $6,148,277.62. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,672 shares of company stock valued at $3,325,799. Company insiders own 0.89% of the company’s stock.

Institutional Trading of Owens Corning

Institutional investors have recently bought and sold shares of the business. Lecap Asset Management Ltd. bought a new stake in Owens Corning in the 4th quarter valued at about $1,791,000. Voss Capital LLC bought a new stake in Owens Corning in the 4th quarter valued at about $5,929,000. Louisiana State Employees Retirement System bought a new stake in Owens Corning in the 4th quarter valued at about $3,706,000. Federated Hermes Inc. boosted its holdings in Owens Corning by 11.6% in the 4th quarter. Federated Hermes Inc. now owns 530,802 shares of the construction company’s stock valued at $78,681,000 after purchasing an additional 55,263 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in Owens Corning by 97.3% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 22,798 shares of the construction company’s stock valued at $3,110,000 after purchasing an additional 11,241 shares during the period. 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.