Equities research analysts at Argus assumed coverage on shares of Owens Corning (NYSE:OC) in a research note issued on Wednesday, The Fly reports. The firm set a “buy” rating on the construction company’s stock.

OC has been the topic of a number of other research reports. Wells Fargo & Company upgraded shares of Owens Corning from a “market perform” rating to an “outperform” rating and raised their price target for the company from $68.00 to $83.00 in a report on Wednesday, August 30th. Royal Bank Of Canada restated a “buy” rating on shares of Owens Corning in a report on Tuesday, October 3rd. Evercore ISI restated an “outperform” rating and set a $80.00 price target (down previously from $88.00) on shares of Owens Corning in a report on Wednesday, October 11th. Instinet downgraded shares of Owens Corning from a “buy” rating to a “neutral” rating and raised their price target for the company from $74.00 to $79.00 in a report on Monday, September 11th. Finally, SunTrust Banks raised their price target on shares of Owens Corning from $66.00 to $75.00 and gave the company a “hold” rating in a report on Thursday, October 26th. Nine investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Owens Corning currently has an average rating of “Buy” and an average target price of $78.70.

Owens Corning (OC) opened at $88.90 on Wednesday. The firm has a market cap of $10,035.05, a price-to-earnings ratio of 22.44, a PEG ratio of 1.36 and a beta of 1.09. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.99 and a current ratio of 1.66. Owens Corning has a twelve month low of $50.77 and a twelve month high of $91.40.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.63 billion. Owens Corning had a net margin of 6.15% and a return on equity of 11.40%. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.09 EPS. sell-side analysts forecast that Owens Corning will post 4.33 earnings per share for the current fiscal year.

In other Owens Corning news, CFO Michael C. Mcmurray sold 14,000 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were 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 directly owns 40,903 shares in the company, valued at approximately $3,129,897.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director W Howard Morris sold 2,026 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $81.95, for a total transaction of $166,030.70. The disclosure for this sale can be found here. Insiders sold a total of 274,633 shares of company stock worth $22,063,967 over the last 90 days. Company insiders own 1.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of OC. Vanguard Group Inc. boosted its position in shares of Owens Corning by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 10,562,420 shares of the construction company’s stock valued at $706,837,000 after acquiring an additional 190,866 shares in the last quarter. BlackRock Inc. boosted its position in shares of Owens Corning by 4,010.8% during the 1st quarter. BlackRock Inc. now owns 6,496,203 shares of the construction company’s stock valued at $398,669,000 after acquiring an additional 6,338,177 shares in the last quarter. Iridian Asset Management LLC CT acquired a new stake in shares of Owens Corning during the 2nd quarter valued at about $242,405,000. TIAA CREF Investment Management LLC boosted its position in shares of Owens Corning by 3.5% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 3,758,392 shares of the construction company’s stock valued at $200,661,000 after acquiring an additional 127,866 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Owens Corning by 1.5% during the 4th quarter. American Century Companies Inc. now owns 3,745,100 shares of the construction company’s stock valued at $176,132,000 after acquiring an additional 55,700 shares in the last quarter. Institutional investors own 94.55% of the company’s stock.

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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.

The Fly

Analyst Recommendations for Owens Corning (NYSE:OC)

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