Owens Corning (NYSE:OC) Given New $195.00 Price Target at Wells Fargo & Company

Owens Corning (NYSE:OC) had its price objective lifted by equities researchers at Wells Fargo & Company from $175.00 to $195.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the construction company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 2.39% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. Citigroup upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and raised their target price for the stock from $178.00 to $191.00 in a report on Thursday, July 11th. UBS Group raised their target price on shares of Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Benchmark restated a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Royal Bank of Canada increased their price target on shares of Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Evercore ISI increased their price target on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $192.62.

Owens Corning Trading Up 1.6 %

NYSE:OC opened at $190.44 on Thursday. The company’s 50 day moving average price is $175.83 and its 200-day moving average price is $173.64. Owens Corning has a 52 week low of $121.08 and a 52 week high of $193.93. The company has a quick ratio of 0.79, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The stock has a market cap of $16.56 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 2.27 and a beta of 1.41.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating analysts’ consensus estimates of $4.01 by $0.37. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the prior year, the company posted $4.15 earnings per share. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. On average, equities research analysts forecast that Owens Corning will post 15.34 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 57,079 shares of the company’s stock, valued at $10,074,443.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Owens Corning

A number of institutional investors and hedge funds have recently made changes to their positions in OC. Central Pacific Bank Trust Division purchased a new position in shares of Owens Corning in the 1st quarter worth $105,000. ORG Partners LLC purchased a new position in shares of Owens Corning during the 1st quarter worth about $31,000. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Owens Corning by 14.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,002 shares of the construction company’s stock worth $668,000 after purchasing an additional 519 shares during the period. BOS Asset Management LLC purchased a new position in shares of Owens Corning during the 1st quarter worth about $247,000. Finally, Atomi Financial Group Inc. purchased a new position in shares of Owens Corning during the 1st quarter worth about $729,000. 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.