Owens Corning (NYSE:OC) has been assigned an average recommendation of “Buy” from the twenty-four research firms that are covering the company, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $85.35.
OC has been the topic of several research analyst reports. Royal Bank of Canada raised shares of Owens Corning from an “outperform” rating to a “top pick” rating in a report on Monday, December 4th. SunTrust Banks upped their price target on shares of Owens Corning from $66.00 to $75.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $83.00 price target on shares of Owens Corning in a report on Thursday, October 26th. Zacks Investment Research raised Owens Corning from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a research note on Wednesday, December 27th. Finally, Credit Suisse Group increased their target price on Owens Corning from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, November 17th.
Owens Corning (OC) traded up $0.50 during trading on Tuesday, hitting $85.72. 916,045 shares of the stock traded hands, compared to its average volume of 918,885. The company has a market capitalization of $9,430.00, a PE ratio of 25.59, a P/E/G ratio of 0.98 and a beta of 0.98. Owens Corning has a 52-week low of $56.92 and a 52-week high of $96.52. The company has a current ratio of 1.66, a quick ratio of 0.99 and a debt-to-equity ratio of 0.62.
In other Owens Corning news, Chairman Michael H. Thaman sold 101,600 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $85.33, for a total transaction of $8,669,528.00. Following the completion of the sale, the chairman now directly owns 840,370 shares in the company, valued at $71,708,772.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John David Williams sold 3,684 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $88.64, for a total transaction of $326,549.76. Following the sale, the director now owns 24,762 shares of the company’s stock, valued at $2,194,903.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,420 shares of company stock valued at $10,990,777. 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 the business. Cerebellum GP LLC purchased a new stake in shares of Owens Corning during the fourth quarter worth about $119,000. Strs Ohio purchased a new stake in shares of Owens Corning during the fourth quarter worth about $129,000. Grove Bank & Trust boosted its holdings in shares of Owens Corning by 213.5% during the third quarter. Grove Bank & Trust now owns 1,630 shares of the construction company’s stock worth $126,000 after purchasing an additional 1,110 shares during the period. Focused Wealth Management Inc purchased a new stake in shares of Owens Corning during the fourth quarter worth about $175,000. Finally, LS Investment Advisors LLC purchased a new stake in shares of Owens Corning during the fourth quarter worth about $198,000. Institutional investors and hedge funds own 93.06% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Owens Corning (OC) Receives Consensus Rating of “Buy” from Brokerages” was originally posted by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another website, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2018/02/13/owens-corning-oc-receives-consensus-rating-of-buy-from-brokerages.html.
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.
Receive News & Ratings for Owens Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning and related companies with MarketBeat.com's FREE daily email newsletter.