Owens Corning Inc (OC) Rating Reiterated by Jefferies Group LLC
Owens Corning Inc (NYSE:OC)‘s stock had its “buy” rating restated by investment analysts at Jefferies Group LLC in a research note issued on Thursday. They presently have a $82.00 price objective on the construction company’s stock. Jefferies Group LLC’s target price indicates a potential upside of 20.69% from the stock’s current price.
Several other analysts have also recently weighed in on the company. FBR & Co lifted their price objective on Owens Corning from $63.00 to $70.00 and gave the company a “mkt perform” rating in a research report on Thursday. BidaskClub cut Owens Corning from a “hold” rating to a “sell” rating in a research report on Thursday. MKM Partners raised Owens Corning from a “sell” rating to a “neutral” rating and set a $62.00 price objective on the stock in a research report on Thursday. Barclays PLC lifted their price objective on Owens Corning from $64.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 28th. Finally, Zacks Investment Research raised Owens Corning from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $68.20.
Shares of Owens Corning (NYSE:OC) traded down 0.18% on Thursday, reaching $67.94. The company’s stock had a trading volume of 1,337,284 shares. The company’s 50 day moving average price is $65.74 and its 200 day moving average price is $60.97. The company has a market cap of $7.60 billion, a P/E ratio of 17.81 and a beta of 1.11. Owens Corning has a 12-month low of $46.45 and a 12-month high of $68.80.
Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, July 26th. The construction company reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.12. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Owens Corning had a return on equity of 11.56% and a net margin of 7.38%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.29 EPS. Analysts forecast that Owens Corning will post $4.11 EPS for the current fiscal year.
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In related news, Director James J. Mcmonagle sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $64.60, for a total value of $129,200.00. Following the transaction, the director now directly owns 50,906 shares of the company’s stock, valued at approximately $3,288,527.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Arnaud Genis sold 21,544 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $65.44, for a total value of $1,409,839.36. Following the completion of the transaction, the insider now directly owns 80,143 shares in the company, valued at $5,244,557.92. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Rothschild Asset Management Inc. boosted its position in Owens Corning by 6.1% in the second quarter. Rothschild Asset Management Inc. now owns 435,723 shares of the construction company’s stock valued at $29,159,000 after buying an additional 25,062 shares during the period. Pillar Pacific Capital Management LLC raised its stake in shares of Owens Corning by 8.3% in the second quarter. Pillar Pacific Capital Management LLC now owns 45,455 shares of the construction company’s stock worth $3,043,000 after buying an additional 3,465 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Owens Corning by 16.7% in the second quarter. Janney Montgomery Scott LLC now owns 12,088 shares of the construction company’s stock worth $809,000 after buying an additional 1,732 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in shares of Owens Corning during the second quarter worth $227,000. Finally, Personal Capital Advisors Corp raised its stake in shares of Owens Corning by 3,560.8% in the second quarter. Personal Capital Advisors Corp now owns 136,510 shares of the construction company’s stock worth $9,135,000 after buying an additional 132,781 shares in the last quarter.
About Owens Corning
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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