Owens Corning Price Target Lowered to $42.00 at RBC Capital (OC)
Equities research analysts at RBC Capital lowered their target price on shares of Owens Corning (NYSE:OC) from $47.00 to $42.00 in a research note issued to investors on Thursday, American Banking News reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s target price suggests a potential upside of 11.14% from the company’s current price.
Owens Corning (NYSE:OC) traded down 1.43% on Thursday, hitting $37.79. The stock had a trading volume of 3,737,497 shares. Owens Corning has a 52 week low of $29.48 and a 52 week high of $45.55. The stock’s 50-day moving average is $38.60 and its 200-day moving average is $40.34. The company has a market cap of $4.493 billion and a price-to-earnings ratio of 77.45.
Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, October 23rd. The company reported $0.53 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.66 by $0.13. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the company posted $0.33 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group cut their price target on shares of Owens Corning from $55.00 to $52.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Barclays downgraded shares of Owens Corning from an “overweight” rating to an “equal weight” rating in a research note to investors on Thursday. They now have a $42.00 price target on the stock, down previously from $49.00. Finally, analysts at JPMorgan Chase & Co. reiterated a “buy” rating on shares of Owens Corning in a research note to investors on Wednesday. They now have a $45.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $40.92.
Owens Corning is engaged in composite and building materials systems, delivering a range of products and services.
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