Stock Traders Buy Large Volume of Owens Corning Call Options (OC)
Shares of Owens Corning (NYSE:OC) were the target of some unusual options trading activity on Friday. Traders bought 1,562 call options on the stock, AnalystRatingsNetwork.com reports. This represents an increase of approximately 570% compared to the typical volume of 233 call options.
A number of research firms have recently commented on OC. Analysts at RBC Capital reiterated a “sector perform” rating on shares of Owens Corning in a research note on Thursday, July 31st. They now have a $37.00 price target on the stock, down previously from $40.00. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Owens Corning in a research note on Friday, July 25th. They now have a $44.00 price target on the stock, down previously from $45.00. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Owens Corning in a research note on Thursday, July 24th. They now have a $48.00 price target on the stock, down previously from $49.00. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Owens Corning currently has a consensus rating of “Hold” and an average target price of $41.23.
Shares of Owens Corning (NYSE:OC) traded up 1.68% during mid-day trading on Friday, hitting $34.42. 1,391,624 shares of the company’s stock traded hands. Owens Corning has a 52-week low of $33.71 and a 52-week high of $46.64. The stock’s 50-day moving average is $37.02 and its 200-day moving average is $40.61. The company has a market cap of $4.047 billion and a P/E ratio of 14.63.
Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, July 23rd. The company reported $0.38 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.46 by $0.08. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the company posted $0.57 earnings per share. Owens Corning’s revenue was up .6% compared to the same quarter last year. On average, analysts predict that Owens Corning will post $1.85 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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