Owens Corning Inc (OC) PT Raised to $85.00 at SunTrust Banks, Inc.
Owens Corning Inc (NYSE:OC) had its target price upped by equities research analysts at SunTrust Banks, Inc. to $85.00 in a report released on Tuesday. The brokerage currently has a “hold” rating on the construction company’s stock. SunTrust Banks, Inc.’s price target points to a potential downside of 2.62% from the stock’s previous close. SunTrust Banks also issued estimates for Owens Corning’s Q2 2018 earnings at $1.49 EPS, Q3 2018 earnings at $1.59 EPS, Q4 2018 earnings at $1.16 EPS and FY2018 earnings at $5.02 EPS.
OC has been the subject of a number of other reports. Wells Fargo & Company raised Owens Corning from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $68.00 to $83.00 in a report on Wednesday, August 30th. Royal Bank Of Canada reissued a “buy” rating on shares of Owens Corning in a report on Tuesday, October 3rd. Evercore ISI reissued an “outperform” rating and issued a $80.00 price target (down from $88.00) on shares of Owens Corning in a report on Wednesday, October 11th. MKM Partners raised Owens Corning from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $47.00 to $62.00 in a report on Thursday, July 27th. Finally, FBR & Co boosted their price target on Owens Corning from $63.00 to $70.00 and gave the stock a “mkt perform” rating in a report on Thursday, July 27th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Owens Corning currently has a consensus rating of “Buy” and a consensus price target of $78.70.
Owens Corning (OC) opened at $87.29 on Tuesday. Owens Corning has a 1-year low of $50.77 and a 1-year high of $87.49. The firm has a market capitalization of $9,675.74, a price-to-earnings ratio of 21.64, a PEG ratio of 1.31 and a beta of 1.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 0.99.
Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.26 by ($0.01). Owens Corning had a return on equity of 11.40% and a net margin of 6.15%. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the firm earned $1.09 earnings per share. The business’s revenue was up 12.2% compared to the same quarter last year. equities research analysts anticipate that Owens Corning will post 4.33 EPS for the current year.
COPYRIGHT VIOLATION WARNING: “Owens Corning Inc (OC) PT Raised to $85.00 at SunTrust Banks, Inc.” was first reported by Watch List News and is the property of of Watch List News. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The correct version of this news story can be accessed at https://www.watchlistnews.com/owens-corning-inc-oc-pt-raised-to-85-00-at-suntrust-banks-inc/1720885.html.
In other Owens Corning news, insider Arnaud Genis sold 6,000 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $70.75, for a total transaction of $424,500.00. Following the completion of the sale, the insider now directly owns 58,374 shares in the company, valued at $4,129,960.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Kelly Schmidt sold 1,462 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $70.35, for a total value of $102,851.70. The disclosure for this sale can be found here. Insiders have sold 300,379 shares of company stock valued at $23,405,256 over the last 90 days. 1.80% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of OC. Investec Asset Management LTD purchased a new position in Owens Corning in the third quarter valued at about $75,591,000. PGGM Investments purchased a new position in Owens Corning in the second quarter valued at about $26,366,000. Boston Partners purchased a new position in Owens Corning in the second quarter valued at about $26,195,000. Allianz Asset Management GmbH boosted its holdings in Owens Corning by 22.4% in the third quarter. Allianz Asset Management GmbH now owns 1,798,466 shares of the construction company’s stock valued at $139,112,000 after purchasing an additional 328,726 shares during the last quarter. Finally, FMR LLC boosted its holdings in Owens Corning by 118.4% in the second quarter. FMR LLC now owns 572,911 shares of the construction company’s stock valued at $38,339,000 after purchasing an additional 310,559 shares during the last quarter. 95.58% 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.
Receive News & Ratings for Owens Corning Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.