Owens Corning (NYSE:OC) Given New $150.00 Price Target at Wells Fargo & Company

Owens Corning (NYSE:OC) had its target price lifted by Wells Fargo & Company from $135.00 to $150.00 in a research report report published on Thursday,Benzinga reports. The firm currently has an overweight rating on the construction company’s stock.

A number of other equities analysts have also issued reports on the stock. UBS Group increased their target price on shares of Owens Corning from $160.00 to $172.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Truist Financial increased their target price on shares of Owens Corning from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday. Citigroup decreased their target price on shares of Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Barclays decreased their target price on shares of Owens Corning from $138.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Finally, Zacks Research upgraded shares of Owens Corning from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $144.00.

Owens Corning Price Performance

OC traded up $0.07 on Thursday, reaching $121.88. The company had a trading volume of 439,583 shares, compared to its average volume of 1,387,218. The company has a fifty day moving average of $113.83 and a 200-day moving average of $117.00. The company has a market capitalization of $9.80 billion, a P/E ratio of -18.44, a PEG ratio of 2.08 and a beta of 1.35. The company has a current ratio of 1.24, a quick ratio of 0.70 and a debt-to-equity ratio of 1.27. Owens Corning has a one year low of $97.53 and a one year high of $159.42.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.21. The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.18 billion. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. Owens Corning’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.97 EPS. As a group, equities research analysts anticipate that Owens Corning will post 9.45 earnings per share for the current year.

Hedge Funds Weigh In On Owens Corning

Several large investors have recently made changes to their positions in the business. Pitcairn Co. boosted its position in shares of Owens Corning by 4.6% during the 2nd quarter. Pitcairn Co. now owns 1,821 shares of the construction company’s stock valued at $250,000 after purchasing an additional 80 shares in the last quarter. First Pacific Financial lifted its stake in Owens Corning by 2.3% during the first quarter. First Pacific Financial now owns 3,749 shares of the construction company’s stock valued at $406,000 after buying an additional 85 shares in the last quarter. Archer Investment Corp lifted its stake in Owens Corning by 13.3% during the third quarter. Archer Investment Corp now owns 748 shares of the construction company’s stock valued at $106,000 after buying an additional 88 shares in the last quarter. Viawealth LLC lifted its stake in Owens Corning by 3.6% during the fourth quarter. Viawealth LLC now owns 2,563 shares of the construction company’s stock valued at $287,000 after buying an additional 88 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its stake in Owens Corning by 2.9% during the first quarter. Fifth Third Wealth Advisors LLC now owns 3,170 shares of the construction company’s stock valued at $343,000 after buying an additional 90 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Owens Corning Company Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.