Owens Corning (NYSE:OC) PT Raised to $192.00

Owens Corning (NYSE:OC) had its price objective upped by investment analysts at UBS Group from $169.00 to $192.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. UBS Group’s price target suggests a potential upside of 13.91% from the company’s previous close.

OC has been the subject of several other reports. JPMorgan Chase & Co. decreased their target price on shares of Owens Corning from $164.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 20th. Royal Bank of Canada decreased their target price on shares of Owens Corning from $183.00 to $175.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Citigroup raised their target price on shares of Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Loop Capital increased their price target on shares of Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Finally, Truist Financial increased their price target on shares of Owens Corning from $115.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, February 15th. Eight research 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. Based on data from MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and an average price target of $168.21.

Owens Corning Stock Performance

NYSE:OC opened at $168.55 on Thursday. Owens Corning has a twelve month low of $99.49 and a twelve month high of $173.65. The company has a current ratio of 1.76, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average of $159.88 and a 200-day moving average of $146.32. The firm has a market cap of $14.66 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 6.98 and a beta of 1.47.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, topping the consensus estimate of $3.04 by $0.55. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period last year, the company posted $2.77 earnings per share. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. Analysts forecast that Owens Corning will post 13.92 earnings per share for the current fiscal year.

Insider Activity at Owens Corning

In other news, CEO Brian Chambers sold 9,100 shares of Owens Corning stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $153.57, for a total value of $1,397,487.00. Following the transaction, the chief executive officer now owns 269,696 shares of the company’s stock, valued at $41,417,214.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Brian Chambers sold 9,100 shares of Owens Corning stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $153.57, for a total value of $1,397,487.00. Following the transaction, the chief executive officer now owns 269,696 shares of the company’s stock, valued at $41,417,214.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Paula Russell sold 3,765 shares of Owens Corning stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total transaction of $609,930.00. Following the completion of the transaction, the executive vice president now directly owns 20,419 shares in the company, valued at approximately $3,307,878. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,672 shares of company stock valued at $3,325,799. 0.89% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Owens Corning

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Aspen Investment Management Inc grew its stake in shares of Owens Corning by 44.4% in the first quarter. Aspen Investment Management Inc now owns 3,445 shares of the construction company’s stock worth $575,000 after acquiring an additional 1,060 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of Owens Corning by 0.3% in the first quarter. New York State Teachers Retirement System now owns 73,717 shares of the construction company’s stock worth $12,296,000 after acquiring an additional 202 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Owens Corning by 89.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,680 shares of the construction company’s stock worth $2,115,000 after acquiring an additional 6,004 shares during the last quarter. Simplicity Wealth LLC acquired a new stake in shares of Owens Corning in the first quarter worth $254,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Owens Corning by 151.7% in the first quarter. Assenagon Asset Management S.A. now owns 45,440 shares of the construction company’s stock worth $7,579,000 after acquiring an additional 27,385 shares during the last quarter. Institutional investors and hedge funds 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.