TheStreet Upgrades Owens Corning to “Buy” (OC)
Owens Corning (NYSE:OC) was upgraded by equities researchers at TheStreet from a “hold” rating to a “buy” rating in a research report issued on Friday, Analyst Ratings Network reports.
The analysts wrote, “Owens-Corning (OC) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.”
A number of other firms have also recently commented on OC. Analysts at MKM Partners initiated coverage on shares of Owens Corning in a research note to investors on Wednesday, December 4th. They set a “neutral” rating and a $35.00 price target on the stock. Separately, analysts at SunTrust upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, December 4th. They now have a $51.00 price target on the stock, up previously from $38.00. Finally, analysts at Zacks upgraded shares of Owens Corning from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, November 25th. They now have a $37.80 price target on the stock. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $36.69.
Shares of Owens Corning (NYSE:OC) traded up 0.21% during mid-day trading on Friday, hitting $42.01. The stock had a trading volume of 1,330,717 shares. Owens Corning has a 52 week low of $34.41 and a 52 week high of $45.55. The stock’s 50-day moving average is $39.29 and its 200-day moving average is $38.6. The company has a market cap of $4.945 billion and a price-to-earnings ratio of 76.08.
Owens Corning (NYSE:OC) last posted its quarterly 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. On average, analysts predict that Owens Corning will post $1.67 earnings per share 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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