Owens Corning’s (OC) Buy Rating Reiterated at Jefferies Group LLC
Owens Corning Inc (NYSE:OC)‘s stock had its “buy” rating reissued by equities research analysts at Jefferies Group LLC in a research note issued to investors on Friday. They currently have a $82.00 price target on the construction company’s stock. Jefferies Group LLC’s price objective points to a potential upside of 4.26% from the company’s current price.
Other research analysts have also issued research reports about the company. Royal Bank Of Canada reiterated a “buy” rating and issued a $71.00 target price on shares of Owens Corning in a research report on Monday, June 19th. FBR & Co lifted their target price on Owens Corning from $63.00 to $70.00 and gave the stock a “mkt perform” rating in a research report on Thursday, July 27th. BidaskClub lowered Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Credit Suisse Group AG assumed coverage on Owens Corning in a research report on Thursday, June 22nd. They issued an “outperform” rating and a $75.00 target price for the company. Finally, Macquarie upgraded Owens Corning from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $54.00 to $68.00 in a research report on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Owens Corning presently has an average rating of “Buy” and a consensus target price of $72.47.
Owens Corning (NYSE:OC) traded up 0.76% during midday trading on Friday, hitting $79.25. The stock had a trading volume of 589,351 shares. The company has a 50-day moving average price of $73.98 and a 200-day moving average price of $66.31. The company has a market cap of $8.81 billion, a price-to-earnings ratio of 22.77 and a beta of 1.05. Owens Corning has a 12-month low of $46.45 and a 12-month high of $79.44.
Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, July 26th. The construction company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.08 by $0.12. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.48 billion. Owens Corning had a return on equity of 11.12% and a net margin of 6.61%. The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 EPS. Equities analysts anticipate that Owens Corning will post $4.32 EPS for the current year.
TRADEMARK VIOLATION NOTICE: “Owens Corning’s (OC) Buy Rating Reiterated at Jefferies Group LLC” was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The original version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/06/owens-cornings-oc-buy-rating-reiterated-at-jefferies-group-llc.html.
In other Owens Corning news, insider Brian Chambers sold 16,600 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $67.18, for a total transaction of $1,115,188.00. Following the completion of the transaction, the insider now owns 39,957 shares in the company, valued at approximately $2,684,311.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Michael H. Thaman sold 130,700 shares of the business’s stock in a transaction 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 transaction, the chairman now owns 847,992 shares of the company’s stock, valued at approximately $63,557,000.40. The disclosure for this sale can be found here. Insiders have sold a total of 212,866 shares of company stock valued at $15,644,970 in the last quarter. 1.80% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of OC. Comerica Bank raised its stake in shares of Owens Corning by 26.2% in the 1st quarter. Comerica Bank now owns 6,865 shares of the construction company’s stock worth $417,000 after buying an additional 1,426 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Owens Corning by 7.6% in the 1st quarter. UBS Asset Management Americas Inc. now owns 73,900 shares of the construction company’s stock worth $4,535,000 after buying an additional 5,196 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Owens Corning by 17.0% in the 1st quarter. JPMorgan Chase & Co. now owns 472,051 shares of the construction company’s stock worth $28,969,000 after buying an additional 68,626 shares in the last quarter. Cadence Capital Management LLC bought a new stake in shares of Owens Corning in the 1st quarter worth $214,000. Finally, Alliancebernstein L.P. raised its stake in shares of Owens Corning by 45.2% in the 1st quarter. Alliancebernstein L.P. now owns 109,742 shares of the construction company’s stock worth $6,735,000 after buying an additional 34,150 shares in the last quarter. 96.84% of the stock is currently owned by institutional investors.
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.
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.