Owens Corning (NYSE:OC) Stock Gets Price Target Trim from Citigroup

Owens Corning (NYSE:OC) had its price target cut by research analysts at Citigroup from $177.00 to $156.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Citigroup‘s target price points to a potential upside of 23.24% from the stock’s previous close.

Other analysts have also issued reports about the stock. The Goldman Sachs Group decreased their price target on shares of Owens Corning from $169.00 to $128.00 and set a “neutral” rating on the stock in a research report on Monday, October 12th. Barclays cut their price objective on shares of Owens Corning from $177.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, October 6th. Zacks Research cut shares of Owens Corning from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 12th. Vertical Research downgraded Owens Corning from a “hold” rating to a “sell” rating and set a $106.00 target price on the stock. in a research report on Wednesday, October 7th. Finally, Benchmark restated a “hold” rating on shares of Owens Corning in a research note on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $140.93.

Owens Corning Stock Performance

Shares of Owens Corning stock traded up $5.27 during midday trading on Monday, hitting $126.58. The company had a trading volume of 551,425 shares, compared to its average volume of 1,235,483. The business’s 50 day simple moving average is $121.95 and its two-hundred day simple moving average is $126.13. The stock has a market cap of $9.76 billion, a PE ratio of -23.68, a P/E/G ratio of 2.92 and a beta of 1.31. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.13 and a quick ratio of 0.58. Owens Corning has a 1-year low of $97.53 and a 1-year high of $159.91.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, November 4th. The construction company reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.63). The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.62 billion. Owens Corning had a positive return on equity of 19.14% and a negative net margin of 4.42%. The company’s revenue was down 7.3% compared to the same quarter last year. During the same period last year, the firm posted $3.67 EPS. As a group, equities analysts predict that Owens Corning will post 8.47 EPS for the current fiscal year.

Insider Transactions at Owens Corning

In related news, insider Rachel Barthelemy Marcon sold 900 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $144.07, for a total value of $129,663.00. Following the completion of the transaction, the insider owned 21,449 shares of the company’s stock, valued at $3,090,157.43. This represents a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is owned by company insiders.

Institutional Investors Weigh In On Owens Corning

A number of institutional investors have recently added to or reduced their stakes in the stock. Basecamp Wealth Advisors LLC boosted its stake in Owens Corning by 3.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 3,317 shares of the construction company’s stock valued at $359,000 after buying an additional 97 shares in the last quarter. HM Payson & Co. raised its stake in Owens Corning by 203.6% during the second quarter. HM Payson & Co. now owns 167 shares of the construction company’s stock worth $27,000 after acquiring an additional 112 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of Owens Corning by 26.9% during the third quarter. V Square Quantitative Management LLC now owns 556 shares of the construction company’s stock valued at $65,000 after acquiring an additional 118 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Owens Corning by 13.8% during the second quarter. Versant Capital Management Inc now owns 1,017 shares of the construction company’s stock valued at $162,000 after acquiring an additional 123 shares during the period. Finally, Cidel Asset Management Inc. lifted its holdings in shares of Owens Corning by 7.9% during the third quarter. Cidel Asset Management Inc. now owns 1,841 shares of the construction company’s stock valued at $215,000 after acquiring an additional 135 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

About Owens Corning