Analysts’ Recent Ratings Updates for Owens Corning (OC)

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Owens Corning (NYSE: OC) has recently received a number of price target changes and ratings updates:

  • 5/28/2020 – Owens Corning had its price target raised by analysts at Jefferies Financial Group Inc from $52.00 to $62.00. They now have a “buy” rating on the stock.
  • 5/27/2020 – Owens Corning is now covered by analysts at Credit Suisse Group AG. They set a “neutral” rating and a $48.00 price target on the stock.
  • 5/27/2020 – Owens Corning had its price target raised by analysts at Nomura from $47.00 to $52.00. They now have a “neutral” rating on the stock.
  • 5/27/2020 – Owens Corning had its price target raised by analysts at Nomura Instinet from $47.00 to $52.00. They now have a “neutral” rating on the stock.
  • 5/12/2020 – Owens Corning had its price target lowered by analysts at Argus from $72.00 to $50.00. They now have a “buy” rating on the stock.
  • 5/5/2020 – Owens Corning was downgraded by analysts at Zelman & Associates from a “buy” rating to a “hold” rating.
  • 5/4/2020 – Owens Corning had its price target lowered by analysts at Benchmark Co. from $75.00 to $51.00. They now have a “buy” rating on the stock.
  • 4/30/2020 – Owens Corning had its price target raised by analysts at Nomura Instinet from $45.00 to $47.00. They now have a “neutral” rating on the stock.
  • 4/30/2020 – Owens Corning had its price target raised by analysts at Stifel Nicolaus from $37.00 to $48.00. They now have a “hold” rating on the stock.
  • 4/30/2020 – Owens Corning had its “buy” rating reaffirmed by analysts at Barclays PLC. They now have a $50.00 price target on the stock.
  • 4/29/2020 – Owens Corning was downgraded by analysts at TheStreet from a “c” rating to a “d+” rating.
  • 4/19/2020 – Owens Corning was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating.
  • 4/17/2020 – Owens Corning had its price target raised by analysts at Nomura Securities from $38.00 to $45.00. They now have a “neutral” rating on the stock.
  • 4/16/2020 – Owens Corning had its price target lowered by analysts at SunTrust Banks, Inc. from $66.00 to $45.00. They now have a “hold” rating on the stock.
  • 4/16/2020 – Owens Corning was downgraded by analysts at Wells Fargo & Co from an “overweight” rating to an “equal weight” rating. They now have a $42.00 price target on the stock, down previously from $77.00.
  • 4/14/2020 – Owens Corning was downgraded by analysts at Goldman Sachs Group Inc from a “conviction-buy” rating to a “buy” rating.
  • 4/7/2020 – Owens Corning was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating. They now have a $40.00 price target on the stock, down previously from $61.00.
  • 4/6/2020 – Owens Corning had its price target lowered by analysts at Nomura Securities from $55.00 to $38.00. They now have a “neutral” rating on the stock.
  • 4/3/2020 – Owens Corning had its price target lowered by analysts at Stifel Nicolaus from $67.00 to $37.00. They now have a “hold” rating on the stock.

Shares of OC traded up $0.19 during trading hours on Tuesday, reaching $54.07. 28,911 shares of the company’s stock traded hands, compared to its average volume of 1,271,188. Owens Corning has a 12 month low of $28.56 and a 12 month high of $68.72. The company has a current ratio of 1.63, a quick ratio of 0.89 and a debt-to-equity ratio of 0.95. The stock has a market cap of $5.66 billion, a PE ratio of -10.50, a price-to-earnings-growth ratio of 5.04 and a beta of 1.52. The firm’s 50 day simple moving average is $42.94 and its 200-day simple moving average is $54.55.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, April 29th. The construction company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06. Owens Corning had a negative net margin of 7.84% and a positive return on equity of 11.93%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the firm posted $0.54 earnings per share. Owens Corning’s quarterly revenue was down 4.0% on a year-over-year basis. As a group, analysts expect that Owens Corning will post 2.47 earnings per share for the current fiscal year.

In other news, CFO Prithvi Gandhi bought 5,000 shares of Owens Corning stock in a transaction that occurred on Monday, March 9th. The shares were acquired at an average price of $46.90 per share, with a total value of $234,500.00. Following the completion of the purchase, the chief financial officer now directly owns 51,814 shares in the company, valued at $2,430,076.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.50% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Orion Portfolio Solutions LLC purchased a new position in Owens Corning in the 4th quarter worth $30,000. Chevy Chase Trust Holdings Inc. bought a new position in shares of Owens Corning during the fourth quarter valued at about $65,000. Meeder Asset Management Inc. increased its holdings in shares of Owens Corning by 278.5% in the first quarter. Meeder Asset Management Inc. now owns 1,658 shares of the construction company’s stock worth $65,000 after buying an additional 1,220 shares during the period. Penserra Capital Management LLC increased its holdings in shares of Owens Corning by 30.6% in the fourth quarter. Penserra Capital Management LLC now owns 1,280 shares of the construction company’s stock worth $78,000 after buying an additional 300 shares during the period. Finally, CI Investments Inc. lifted its stake in shares of Owens Corning by 904.8% in the 4th quarter. CI Investments Inc. now owns 1,869 shares of the construction company’s stock valued at $122,000 after acquiring an additional 1,683 shares during the last quarter. Institutional investors own 95.10% of the company’s stock.

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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