Owens Corning (NYSE:OC) Stock Rating Lowered by StockNews.com

Owens Corning (NYSE:OC) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Several other research analysts have also recently issued reports on OC. The Goldman Sachs Group increased their price objective on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Evercore ISI increased their price target on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. 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. UBS Group lowered their price objective on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Wells Fargo & Company cut their target price on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.00.

Owens Corning Trading Down 2.5 %

Shares of OC traded down $4.14 during trading hours on Tuesday, reaching $158.75. 2,362,115 shares of the company traded hands, compared to its average volume of 783,214. The stock’s fifty day moving average price is $176.48 and its 200 day moving average price is $179.01. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The firm has a market cap of $13.62 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 1.88 and a beta of 1.46. Owens Corning has a 12-month low of $145.50 and a 12-month high of $214.53.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $0.35. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the company earned $3.21 EPS. Sell-side analysts forecast that Owens Corning will post 15.49 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. FPC Investment Advisory Inc. acquired a new stake in Owens Corning during the 4th quarter worth about $28,000. Venturi Wealth Management LLC boosted its stake in shares of Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after buying an additional 63 shares during the last quarter. Global Trust Asset Management LLC acquired a new stake in shares of Owens Corning during the 4th quarter worth approximately $31,000. Wilmington Savings Fund Society FSB increased its holdings in Owens Corning by 193.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after buying an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new position in shares of Owens Corning in the fourth quarter worth about $34,000. 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.