USG Corp. (USG) PT Lowered to $29.00
USG Corp. (NYSE:USG) had its price target cut by equities researchers at Jefferies Group from $33.00 to $29.00 in a note issued to investors on Thursday. The firm presently has a “hold” rating on the stock. Jefferies Group’s target price suggests a potential upside of 10.73% from the stock’s current price.
USG has been the topic of several other research reports. Citigroup Inc. started coverage on USG Corp. in a report on Friday, August 26th. They set a “neutral” rating and a $32.00 price objective on the stock. RBC Capital Markets raised USG Corp. from a “sector perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a research note on Tuesday, September 13th. Vertical Group raised USG Corp. from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Monday. Zacks Investment Research cut USG Corp. from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 23rd. Finally, Vertical Research raised USG Corp. from a “hold” rating to a “buy” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $31.93.
USG Corp. (NYSE:USG) traded up 1.11% during trading on Thursday, reaching $26.48. 1,025,536 shares of the company’s stock traded hands. The firm has a market capitalization of $3.86 billion, a PE ratio of 3.80 and a beta of 1.96. USG Corp. has a 1-year low of $15.85 and a 1-year high of $30.84. The firm has a 50 day moving average of $27.44 and a 200 day moving average of $27.00.
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USG Corp. (NYSE:USG) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.02. The company had revenue of $1,000 million for the quarter, compared to analyst estimates of $1.01 billion. USG Corp. had a return on equity of 21.37% and a net margin of 26.60%. USG Corp.’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 EPS. Equities analysts forecast that USG Corp. will post $1.74 EPS for the current year.
In other news, VP Kenneth R. Banas sold 11,557 shares of the company’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $28.04, for a total transaction of $324,058.28. Following the completion of the transaction, the vice president now directly owns 15,356 shares in the company, valued at $430,582.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jennifer F. Scanlon sold 9,260 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $27.13, for a total value of $251,223.80. Following the transaction, the insider now owns 34,432 shares of the company’s stock, valued at $934,140.16. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of USG. Adage Capital Partners GP L.L.C. raised its position in shares of USG Corp. by 72.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 4,210,300 shares of the company’s stock worth $104,458,000 after buying an additional 1,770,297 shares during the period. Smith Asset Management Group LP acquired a new position in shares of USG Corp. during the second quarter worth approximately $21,292,000. Norges Bank acquired a new position in shares of USG Corp. during the fourth quarter worth approximately $13,432,000. BlueMountain Capital Management LLC raised its position in shares of USG Corp. by 2,869.7% in the first quarter. BlueMountain Capital Management LLC now owns 323,547 shares of the company’s stock worth $8,027,000 after buying an additional 312,652 shares during the period. Finally, TIAA CREF Investment Management LLC raised its position in shares of USG Corp. by 7.1% in the second quarter. TIAA CREF Investment Management LLC now owns 4,376,368 shares of the company’s stock worth $117,987,000 after buying an additional 288,217 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.
USG Corp. Company Profile
USG Corporation is a manufacturer and distributor of building materials. The Company produces a range of products for use in new residential, new nonresidential, and residential and nonresidential repair and remodel construction, as well as products used in certain industrial processes. The Company’s segments include Gypsum, Ceilings, Distribution, and USG Boral Building Products.
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