Owens Corning (NYSE:OC) had its target price upped by investment analysts at Seaport Global Securities from $90.00 to $107.00 in a research report issued on Thursday, The Fly reports. The firm presently has a “buy” rating on the construction company’s stock. Seaport Global Securities’ target price points to a potential upside of 14.44% from the company’s current price.
OC has been the topic of several other research reports. Royal Bank of Canada reiterated a “buy” rating on shares of Owens Corning in a report on Tuesday, October 3rd. Evercore ISI reiterated an “outperform” rating and issued a $80.00 price target (down previously from $88.00) on shares of Owens Corning in a report on Wednesday, October 11th. Wells Fargo & Co reiterated an “outperform” rating on shares of Owens Corning in a report on Thursday, October 26th. SunTrust Banks increased their price target on Owens Corning from $66.00 to $75.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Finally, Zacks Investment Research lowered Owens Corning from a “buy” rating to a “hold” rating in a report on Friday, January 5th. 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 to the company. The company presently has an average rating of “Buy” and a consensus target price of $83.36.
Shares of Owens Corning (OC) opened at $93.50 on Thursday. Owens Corning has a 52-week low of $50.77 and a 52-week high of $94.99. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.99 and a current ratio of 1.66. The company has a market capitalization of $10,400.00, a PE ratio of 27.91, a P/E/G ratio of 1.18 and a beta of 1.09.
In other news, Director W Howard Morris sold 2,026 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $81.95, for a total value of $166,030.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ava Harter sold 487 shares of the 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 disclosure for this sale can be found here. Over the last three months, insiders sold 129,933 shares of company stock valued at $11,196,722. Company insiders own 1.80% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of OC. Acrospire Investment Management LLC purchased a new stake in shares of Owens Corning during the first quarter valued at approximately $109,000. Grove Bank & Trust increased its position 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 valued at $126,000 after acquiring an additional 1,110 shares during the last quarter. Creative Planning increased its position in shares of Owens Corning by 104.3% during the second quarter. Creative Planning now owns 2,043 shares of the construction company’s stock valued at $137,000 after acquiring an additional 1,043 shares during the last quarter. Point72 Asia Hong Kong Ltd increased its position in shares of Owens Corning by 457.1% during the first quarter. Point72 Asia Hong Kong Ltd now owns 2,301 shares of the construction company’s stock valued at $141,000 after acquiring an additional 1,888 shares during the last quarter. Finally, First Bank & Trust purchased a new stake in shares of Owens Corning during the fourth quarter valued at approximately $157,000. 94.50% of the stock is owned by institutional investors.
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.
