Owens Corning Price Target Lowered to $52.00 at Jefferies Group (OC)
Investment analysts at Jefferies Group decreased their target price on shares of Owens Corning (NYSE:OC) from $55.00 to $52.00 in a note issued to investors on Thursday, AR Network reports. The firm currently has a “buy” rating on the stock. Jefferies Group’s target price would suggest a potential upside of 37.60% from the stock’s previous close.
A number of other firms have also recently commented on OC. 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. Separately, 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. Finally, analysts at UBS AG reiterated a “buy” rating on shares of Owens Corning in a research note to investors on Wednesday. They now have a $16.00 price target on the stock. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $40.92.
Shares of Owens Corning (NYSE:OC) traded down 1.43% during mid-day trading on Thursday, hitting $37.79. 3,737,497 shares of the company’s stock traded hands. 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 P/E ratio of 77.45.
Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.53 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.33 earnings per share. Owens Corning’s revenue was up 3.4% compared to the same quarter last year.
Owens Corning is engaged in composite and building materials systems, delivering a range of products and services.
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