Owens Corning PT Raised to $15.50 (OC)
Equities research analysts at Cantor Fitzgerald upped their price target on shares of Owens Corning (NYSE:OC) from $14.50 to $15.50 in a research note issued to investors on Thursday, StockRatingsNetwork.com reports. The firm currently has a “hold” rating on the stock. Cantor Fitzgerald’s price target would indicate a potential downside of 56.86% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays raised their price target on shares of Owens Corning from $20.00 to $22.00 in a research note to investors on Thursday. They now have an “overweight” rating on the stock. Separately, analysts at Merrill Lynch downgraded shares of Owens Corning from a “buy” rating to a “neutral” rating in a research note to investors on Monday. Finally, analysts at KeyCorp downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research note to investors on Monday. They now have a $51.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company. Owens Corning has a consensus rating of “Hold” and an average price target of $37.26.
Owens Corning (NYSE:OC) traded down 1.94% on Thursday, hitting $35.93. The stock had a trading volume of 3,357,429 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 $38.40 and its 200-day moving average is $40.08. The company has a market cap of $4.230 billion and a P/E ratio of 66.50.
Owens Corning (NYSE:OC) last issued its quarterly earnings data 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 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. Analysts expect that Owens Corning will post $1.70 EPS for the current fiscal year.
In other Owens Corning news, Director Edward F. Lonergan acquired 2,000 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were purchased at an average cost of $37.75 per share, for a total transaction of $75,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Owens Corning is engaged in composite and building materials systems, delivering a range of products and services.
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