USG Corp. Rating Increased to Buy at Longbow Research (USG)
USG Corp. (NYSE:USG) was upgraded by investment analysts at Longbow Research from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $28.00 target price on the stock. Longbow Research’s price objective indicates a potential upside of 21.42% from the company’s current price.
The analysts wrote, “We are upgrading USG shares to a BUY, $28 12-month target price. We think with the shares down 19% ytd, the risk/reward at current levels is favorable. We see valuation support, stabilizing commercial trends and wallboard pricing upside, as positive catalysts. As the shares have found support at $21-$22 and have recently approached these levels, we think USG has a better 12 month outlook than the Street currently anticipates.”
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of USG Corp. from $33.00 to $34.00 in a research note to investors on Tuesday, July 30th. They now have an “overweight” rating on the stock. Separately, analysts at Credit Suisse upgraded shares of USG Corp. from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, July 8th. Finally, analysts at Macquarie upgraded shares of USG Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, June 27th. They now have a $31.00 price target on the stock, up previously from $28.00.
Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $31.57.
USG Corp. (NYSE:USG) traded up 1.73% on Wednesday, hitting $23.46. The stock had a trading volume of 838,504 shares. USG Corp. has a 52 week low of $20.05 and a 52 week high of $30.97. The stock’s 50-day moving average is $25. and its 200-day moving average is $25.79. The company’s market cap is $2.546 billion.
USG Corp. (NYSE:USG) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.22 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.19 by $0.03. The company had revenue of $916.00 million for the quarter, compared to the consensus estimate of $879.07 million. During the same quarter last year, the company posted ($0.15) earnings per share. USG Corp.’s revenue was up 14.8% compared to the same quarter last year. Analysts expect that USG Corp. will post $0.64 EPS for the current fiscal year.
USG Corporation (NYSE:USG), through its subsidiaries, is a manufacturer and distributor of building materials.
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