Barclays Has Lowered Expectations for Owens Corning (NYSE:OC) Stock Price

Owens Corning (NYSE:OC) had its price target decreased by equities researchers at Barclays from $245.00 to $215.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. Barclays‘s target price suggests a potential upside of 35.43% from the company’s previous close.

Other analysts also recently issued reports about the stock. Wells Fargo & Company dropped their price objective on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday. Citigroup decreased their target price 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. UBS Group cut their price target on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday. Loop Capital decreased their price objective on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Royal Bank of Canada lowered their target price on Owens Corning from $224.00 to $212.00 and set an “outperform” rating on the stock in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Owens Corning has an average rating of “Moderate Buy” and an average target price of $207.00.

Owens Corning Price Performance

Shares of OC opened at $158.75 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The company’s fifty day moving average price is $176.48 and its 200-day moving average price is $179.01. Owens Corning has a 1-year low of $145.50 and a 1-year high of $214.53. The firm has a market capitalization of $13.62 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 1.88 and a beta of 1.46.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the company earned $3.21 earnings per share. The company’s revenue was up 23.3% on a year-over-year basis. On average, equities research analysts predict that Owens Corning will post 15.49 EPS for the current year.

Insider Buying and Selling

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the transaction, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gunner Smith sold 17,450 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the sale, the insider now owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

A number of large investors have recently made changes to their positions in the stock. Stratos Wealth Partners LTD. raised its holdings in shares of Owens Corning by 4.3% during the 4th quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock worth $221,000 after acquiring an additional 53 shares during the period. Greenleaf Trust boosted its stake in Owens Corning by 1.5% during the fourth quarter. Greenleaf Trust now owns 3,895 shares of the construction company’s stock worth $663,000 after buying an additional 56 shares during the period. CoreCap Advisors LLC increased its holdings in Owens Corning by 3.3% in the 4th quarter. CoreCap Advisors LLC now owns 1,789 shares of the construction company’s stock valued at $305,000 after purchasing an additional 57 shares during the last quarter. Retirement Guys Formula LLC raised its position in Owens Corning by 3.1% in the fourth quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company’s stock valued at $341,000 after purchasing an additional 60 shares during the period. Finally, IFP Advisors Inc grew its stake in shares of Owens Corning by 35.6% in the fourth quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock valued at $40,000 after buying an additional 62 shares in the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

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.