Owens Corning (NYSE:OC) was upgraded by analysts at Royal Bank Of Canada from an “outperform” rating to a “top pick” rating in a research note issued on Monday, The Fly reports.
Several other equities analysts have also recently issued reports on the company. Stifel Nicolaus restated a “buy” rating and issued a $83.00 price target on shares of Owens Corning in a research report on Friday, September 1st. Wells Fargo & Company upgraded Owens Corning from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $68.00 to $83.00 in a research report on Wednesday, August 30th. SunTrust Banks boosted their price target on Owens Corning from $66.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Instinet cut Owens Corning from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $74.00 to $79.00 in a research report on Monday, September 11th. Finally, KeyCorp reiterated a “buy” rating and set a $84.00 target price on shares of Owens Corning in a research report on Wednesday, September 13th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Owens Corning currently has a consensus rating of “Buy” and a consensus target price of $78.70.
Owens Corning (NYSE:OC) opened at $87.66 on Monday. The stock has a market capitalization of $9,751.39, a PE ratio of 21.81, a P/E/G ratio of 1.32 and a beta of 1.09. Owens Corning has a 52-week low of $50.77 and a 52-week high of $90.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 0.99.
In related news, CFO Michael C. Mcmurray sold 14,000 shares of the company’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 sale, the chief financial officer now owns 40,903 shares of the company’s stock, valued at approximately $3,129,897.56. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Ava Harter sold 487 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $81.96, for a total value of $39,914.52. The disclosure for this sale can be found here. Insiders have sold a total of 252,497 shares of company stock worth $20,069,268 in the last three months. Corporate insiders own 1.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Acrospire Investment Management LLC acquired a new stake in shares of Owens Corning during the 1st quarter worth $109,000. Grove Bank & Trust increased its holdings in Owens Corning by 213.5% in the 3rd quarter. Grove Bank & Trust now owns 1,630 shares of the construction company’s stock valued at $126,000 after purchasing an additional 1,110 shares in the last quarter. Creative Planning increased its holdings in Owens Corning by 104.3% in the 2nd quarter. Creative Planning now owns 2,043 shares of the construction company’s stock valued at $137,000 after purchasing an additional 1,043 shares in the last quarter. Point72 Asia Hong Kong Ltd increased its holdings in Owens Corning by 457.1% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 2,301 shares of the construction company’s stock valued at $141,000 after purchasing an additional 1,888 shares in the last quarter. Finally, First Bank & Trust acquired a new stake in Owens Corning in the 4th quarter valued at $157,000. 94.55% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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