Loop Capital Issues Pessimistic Forecast for Owens Corning (NYSE:OC) Stock Price

Owens Corning (NYSE:OC) had its target price lowered by investment analysts at Loop Capital from $203.00 to $180.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Loop Capital’s price target would indicate a potential upside of 31.94% from the stock’s previous close.

A number of other equities research analysts also recently commented on the company. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. UBS Group lowered their price target on Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Royal Bank of Canada cut their price objective on shares of Owens Corning from $212.00 to $199.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. dropped their price target on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company decreased their price target on shares of Owens Corning from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Thursday. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $188.55.

Owens Corning Trading Up 0.7 %

Owens Corning stock opened at $136.43 on Thursday. The stock has a 50-day moving average price of $141.20 and a 200 day moving average price of $168.00. Owens Corning has a 52 week low of $123.41 and a 52 week high of $214.53. The stock has a market cap of $11.67 billion, a PE ratio of 11.61, a P/E/G ratio of 1.88 and a beta of 1.44. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, May 7th. The construction company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.15. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the business posted $3.40 earnings per share. The company’s revenue was up 25.4% on a year-over-year basis. Equities research analysts predict that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Owens Corning

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FPC Investment Advisory Inc. acquired a new position in shares of Owens Corning during the fourth quarter worth $28,000. Venturi Wealth Management LLC lifted its holdings in Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after buying an additional 63 shares in the last quarter. Global Trust Asset Management LLC purchased a new position in Owens Corning in the 4th quarter valued at about $31,000. Wilmington Savings Fund Society FSB grew its stake in shares of Owens Corning by 193.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after acquiring an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Owens Corning during the fourth quarter worth about $34,000. 88.40% of the stock is owned by institutional investors and hedge funds.

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.