Owens Corning PT Raised to $22.00 (OC)
Stock analysts at Barclays increased their price objective on shares of Owens Corning (NYSE:OC) from $20.00 to $22.00 in a report issued on Thursday, Analyst Ratings Network reports. The firm currently has an “overweight” rating on the stock. Barclays’ price objective points to a potential downside of 38.77% from the company’s current price.
In other Owens Corning news, Director Edward F. Lonergan purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was purchased at an average cost of $37.75 per share, for a total transaction of $75,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of other analysts have also recently weighed in on OC. 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. Separately, 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. Finally, analysts at Bank of America Corp. downgraded shares of Owens Corning from a “buy” rating to a “neutral” rating in a research note to investors on Monday. They now have a $40.00 price target on the stock, down previously from $43.00. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $37.26.
Shares of Owens Corning (NYSE:OC) traded down 1.94% during mid-day trading on Thursday, hitting $35.93. 3,357,429 shares of the company’s stock traded hands. Owens Corning has a one year low of $29.48 and a one year 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 price-to-earnings ratio of 66.50.
Owens Corning (NYSE:OC) last announced its earnings results 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 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. Analysts expect that Owens Corning will post $1.70 EPS for the current fiscal year.
Owens Corning is engaged in composite and building materials systems, delivering a range of products and services.
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