Owens Corning (NYSE:OC) Price Target Lowered to $150.00 at Wells Fargo & Company

Owens Corning (NYSE:OC) had its price objective lowered by Wells Fargo & Company from $155.00 to $150.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 9.95% from the company’s current price.

Several other analysts have also weighed in on the company. UBS Group cut their price objective 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 reduced their price objective on shares of Owens Corning from $212.00 to $199.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Loop Capital dropped their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 10th. JPMorgan Chase & Co. reduced their target price on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Finally, StockNews.com cut Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $188.55.

Owens Corning Stock Up 0.7 %

Owens Corning stock opened at $136.43 on Thursday. The company’s 50-day moving average price is $141.20 and its two-hundred day moving average price is $168.00. The stock has a market cap of $11.67 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.88 and a beta of 1.44. Owens Corning has a 52 week low of $123.41 and a 52 week high of $214.53. 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 announced its earnings results on Wednesday, May 7th. The construction company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.82 by $0.15. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.40 earnings per share. On average, analysts expect that Owens Corning will post 15.49 EPS for the current fiscal year.

Institutional Trading of Owens Corning

Several hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank acquired a new stake in Owens Corning during the 4th quarter worth about $208,519,000. Vanguard Group Inc. lifted its position in shares of Owens Corning by 12.0% in the first quarter. Vanguard Group Inc. now owns 9,815,685 shares of the construction company’s stock worth $1,401,876,000 after purchasing an additional 1,053,855 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Owens Corning by 41.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,422,828 shares of the construction company’s stock worth $242,337,000 after purchasing an additional 414,770 shares during the period. Raiffeisen Bank International AG purchased a new position in Owens Corning during the fourth quarter valued at approximately $51,400,000. Finally, Raymond James Financial Inc. acquired a new position in Owens Corning in the 4th quarter valued at approximately $51,220,000. 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.