Owens Corning (NYSE:OC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Owens Corning is a world leader in building materials systems and composite solutions. Owens Corning people redefine what is possible each day to deliver high-quality products and services ranging from insulation, roofing, siding and stone, to glass composite materials used in transportation, electronics, telecommunications and other high-performance applications. Owens Corning has become a market-leading innovator of glass-fiber technology with sales. “

OC has been the topic of several other reports. Credit Suisse Group set a $90.00 target price on Owens Corning and gave the company an “outperform” rating in a report on Tuesday, October 17th. Bank of America raised their target price on Owens Corning from $84.00 to $97.00 and gave the company a “buy” rating in a report on Friday, November 17th. Evercore ISI reiterated an “outperform” rating and set a $80.00 target price (down from $88.00) on shares of Owens Corning in a report on Wednesday, October 11th. Royal Bank of Canada upgraded Owens Corning from an “outperform” rating to a “top pick” rating in a report on Monday, December 4th. Finally, Jefferies Group restated a “buy” rating and set a $82.00 price objective on shares of Owens Corning in a report on Friday, October 6th. Ten equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $84.77.

Shares of Owens Corning (NYSE:OC) opened at $93.57 on Wednesday. The company has a market capitalization of $10,410.00, a PE ratio of 27.93, a P/E/G ratio of 1.18 and a beta of 1.09. The company has a current ratio of 1.66, a quick ratio of 0.99 and a debt-to-equity ratio of 0.62. Owens Corning has a twelve month low of $52.48 and a twelve month high of $96.25.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, October 25th. The construction company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.01). The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Owens Corning had a net margin of 6.15% and a return on equity of 11.40%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 earnings per share. research analysts predict that Owens Corning will post 4.34 earnings per share for the current year.

In other news, VP Ava Harter sold 487 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $81.96, for a total value of $39,914.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Michael H. Thaman sold 101,600 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $85.33, for a total value of $8,669,528.00. Following the completion of the sale, the chairman now owns 840,370 shares of the company’s stock, valued at $71,708,772.10. The disclosure for this sale can be found here. Insiders sold a total of 129,933 shares of company stock valued at $11,196,722 over the last quarter. Company insiders own 1.80% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its position in Owens Corning by 9.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,689 shares of the construction company’s stock valued at $247,000 after purchasing an additional 304 shares during the period. Brandywine Global Investment Management LLC boosted its position in Owens Corning by 0.4% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 101,731 shares of the construction company’s stock valued at $6,808,000 after purchasing an additional 410 shares during the period. Advisor Group Inc. boosted its position in Owens Corning by 4.9% during the 2nd quarter. Advisor Group Inc. now owns 9,009 shares of the construction company’s stock valued at $600,000 after purchasing an additional 418 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Owens Corning by 2.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,472 shares of the construction company’s stock valued at $1,738,000 after purchasing an additional 632 shares during the period. Finally, Camelot Portfolios LLC boosted its position in Owens Corning by 13.6% during the 3rd quarter. Camelot Portfolios LLC now owns 6,224 shares of the construction company’s stock valued at $481,000 after purchasing an additional 746 shares during the period. Institutional investors and hedge funds own 94.55% of the company’s stock.

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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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