Owens Corning Inc (NYSE:OC) was upgraded by equities research analysts at Citigroup Inc. from a “sell” rating to a “neutral” rating in a research report issued on Friday, MarketBeat reports. The firm presently has a $80.00 price objective on the construction company’s stock. Citigroup Inc.’s price target points to a potential upside of 0.96% from the stock’s previous close.

Several other research firms have also recently issued reports on OC. Credit Suisse Group set a $90.00 price objective on Owens Corning and gave the stock an “outperform” rating in a research report on Tuesday. Evercore ISI restated an “outperform” rating and issued a $80.00 price target (down previously from $88.00) on shares of Owens Corning in a research report on Wednesday, October 11th. Jefferies Group LLC restated a “buy” rating and issued a $82.00 price target on shares of Owens Corning in a research report on Friday, October 6th. Royal Bank Of Canada restated a “buy” rating on shares of Owens Corning in a research report on Tuesday, October 3rd. Finally, Nomura restated a “neutral” rating and issued a $79.00 price target on shares of Owens Corning in a research report on Monday, September 11th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Owens Corning currently has a consensus rating of “Buy” and a consensus target price of $74.32.

Owens Corning (NYSE OC) traded up 1.33% during midday trading on Friday, reaching $80.29. 217,634 shares of the company were exchanged. The company has a 50 day moving average of $76.97 and a 200-day moving average of $67.61. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of 23.07 and a beta of 1.05. Owens Corning has a 52-week low of $46.45 and a 52-week high of $80.36.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, July 26th. The construction company reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.12. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Owens Corning had a return on equity of 11.12% and a net margin of 6.61%. Owens Corning’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.29 earnings per share. On average, equities research analysts anticipate that Owens Corning will post $4.32 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Owens Corning Inc (OC) Stock Rating Upgraded by Citigroup Inc.” was reported by American Banking News and is the property of of American Banking News. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://www.americanbankingnews.com/2017/10/20/owens-corning-inc-oc-rating-increased-to-neutral-at-citigroup-inc.html.

In other Owens Corning news, Chairman Michael H. Thaman sold 130,700 shares of the firm’s stock in a transaction dated 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 sale, the chairman now directly owns 847,992 shares of the company’s stock, valued at approximately $63,557,000.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Michael C. Mcmurray sold 14,000 shares of the firm’s stock in a transaction dated 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 $3,129,897.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 212,866 shares of company stock worth $15,644,970. Corporate insiders own 1.80% of the company’s stock.

Large investors have recently modified their holdings of the business. Vantage Financial Partners Ltd. Inc. acquired a new stake in Owens Corning in the 2nd quarter worth about $228,000. Creative Planning boosted its stake in Owens Corning by 104.3% in the 2nd quarter. Creative Planning now owns 2,043 shares of the construction company’s stock worth $137,000 after buying an additional 1,043 shares during the last quarter. Penserra Capital Management LLC boosted its stake in Owens Corning by 11.1% in 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 last quarter. First Bank & Trust boosted its stake in Owens Corning by 3.6% in 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 last quarter. Finally, Meridian Wealth Management LLC acquired a new stake in Owens Corning in the 2nd quarter worth about $227,000. 96.76% of the stock is currently owned by hedge funds and other 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.

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.