Stock analysts at Argus initiated coverage on shares of Owens Corning (NYSE:OC) in a research note issued on Wednesday, December 6th, MarketBeat reports. The firm set a “buy” rating and a $109.00 price target on the construction company’s stock. Argus’ target price points to a potential upside of 18.56% from the company’s current price.
A number of other equities analysts have also weighed in on OC. Citigroup reaffirmed a “sell” rating and set a $69.00 target price (up from $49.00) on shares of Owens Corning in a research report on Tuesday, October 3rd. BidaskClub raised Owens Corning from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Credit Suisse Group set a $90.00 target price on Owens Corning and gave the stock an “outperform” rating in a research report on Tuesday, October 17th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Owens Corning in a research report on Tuesday, October 3rd. Finally, Jefferies Group reaffirmed a “buy” rating and set a $82.00 target price on shares of Owens Corning in a research report on Friday, October 6th. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $82.10.
Shares of Owens Corning (NYSE OC) traded down $0.60 on Wednesday, reaching $91.94. The company’s stock had a trading volume of 832,406 shares, compared to its average volume of 994,045. 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 12-month low of $50.77 and a 12-month high of $92.85. The firm has a market capitalization of $10,317.60, a price-to-earnings ratio of 27.44, a PEG ratio of 1.40 and a beta of 1.09.
In other Owens Corning news, CFO Michael C. Mcmurray sold 18,000 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $90.78, for a total value of $1,634,040.00. Following the completion of the transaction, the chief financial officer now owns 52,228 shares in the company, valued at approximately $4,741,257.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James J. Mcmonagle sold 4,136 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $87.20, for a total value of $360,659.20. Following the completion of the transaction, the director now owns 47,925 shares of the company’s stock, valued at approximately $4,179,060. 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 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Grove Bank & Trust grew its stake in shares of Owens Corning by 213.5% during the 3rd quarter. Grove Bank & Trust now owns 1,630 shares of the construction company’s stock worth $126,000 after acquiring an additional 1,110 shares during the period. Creative Planning lifted its holdings in Owens Corning by 104.3% during the 2nd quarter. Creative Planning now owns 2,043 shares of the construction company’s stock worth $137,000 after purchasing an additional 1,043 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in Owens Corning by 11.1% during the 2nd quarter. Penserra Capital Management LLC now owns 2,964 shares of the construction company’s stock worth $198,000 after purchasing an additional 296 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Owens Corning during the 3rd quarter worth about $202,000. Finally, Worth Venture Partners LLC purchased a new stake in Owens Corning during the 3rd quarter worth about $213,000. Institutional investors own 94.50% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Owens Corning (NYSE:OC) Earns Buy Rating from Analysts at Argus” was first published by Week Herald and is owned by of Week Herald. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright & trademark legislation. The original version of this news story can be viewed at https://weekherald.com/2017/12/30/owens-corning-oc-now-covered-by-analysts-at-argus.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.