Owens Corning Inc (NYSE:OC)‘s stock had its “sell” rating reaffirmed by equities researchers at Citigroup Inc. in a report released on Tuesday. They presently have a $69.00 price objective on the construction company’s stock, up from their previous price objective of $49.00. Citigroup Inc.’s price objective suggests a potential downside of 12.22% from the stock’s current price.

Several other analysts have also recently commented on OC. SunTrust Banks, Inc. reaffirmed a “hold” rating on shares of Owens Corning in a research report on Tuesday, September 12th. BidaskClub raised Owens Corning from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Jefferies Group LLC reissued a “buy” rating and set a $72.00 price target on shares of Owens Corning in a research report on Sunday, July 9th. Stifel Nicolaus reissued a “buy” rating and issued a $83.00 price objective on shares of Owens Corning in a research note on Friday, September 1st. Finally, KeyCorp reissued an “overweight” rating and issued a $75.00 price objective (up from $70.00) on shares of Owens Corning in a research note on Monday, June 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company. Owens Corning currently has a consensus rating of “Buy” and an average price target of $72.60.

Owens Corning (NYSE:OC) traded up 0.43% on Tuesday, hitting $78.61. 910,650 shares of the company were exchanged. The firm has a 50 day moving average of $73.01 and a 200-day moving average of $66.01. Owens Corning has a 52-week low of $46.45 and a 52-week high of $78.97. The stock has a market cap of $8.74 billion, a PE ratio of 22.58 and a beta of 1.05.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, July 26th. The construction company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.12. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.48 billion. Owens Corning had a net margin of 6.61% and a return on equity of 11.12%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $1.29 earnings per share. On average, equities analysts expect that Owens Corning will post $4.30 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Owens Corning Inc (OC) Given “Sell” Rating at Citigroup Inc.” was first posted by American Banking News and is owned by of American Banking News. If you are reading this story on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright law. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/10/03/owens-corning-inc-oc-price-target-raised-to-69-00.html.

In related news, CFO Michael C. Mcmurray sold 14,000 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $76.52, for a total value of $1,071,280.00. Following the completion of the sale, the chief financial officer now directly owns 40,903 shares in the company, valued at approximately $3,129,897.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Michael H. Thaman sold 130,700 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $74.95, for a total value of $9,795,965.00. Following the completion of the sale, the chairman now owns 847,992 shares of the company’s stock, valued at $63,557,000.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 212,866 shares of company stock worth $15,644,970. 1.80% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in OC. Raymond James Trust N.A. raised its position in shares of Owens Corning by 0.4% in the second quarter. Raymond James Trust N.A. now owns 7,114 shares of the construction company’s stock valued at $476,000 after purchasing an additional 26 shares during the period. Laurion Capital Management LP boosted its holdings in shares of Owens Corning by 1.8% during the 1st quarter. Laurion Capital Management LP now owns 5,700 shares of the construction company’s stock worth $350,000 after buying an additional 103 shares during the period. First Bank & Trust boosted its holdings in shares of Owens Corning by 3.6% during the 2nd quarter. First Bank & Trust now owns 3,024 shares of the construction company’s stock worth $202,000 after buying an additional 104 shares during the period. Vantage Financial Partners Ltd. Inc. bought a new stake in shares of Owens Corning during the 2nd quarter worth $228,000. Finally, Penserra Capital Management LLC boosted its holdings in shares of Owens Corning by 11.1% during the 2nd quarter. Penserra Capital Management LLC now owns 2,964 shares of the construction company’s stock worth $198,000 after buying an additional 296 shares during the period. Institutional investors own 96.84% of the company’s stock.

Owens Corning Company Profile

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.

Analyst Recommendations for Owens Corning (NYSE:OC)

Receive News & Ratings for Owens Corning Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning Inc and related companies with MarketBeat.com's FREE daily email newsletter.