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.

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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.

Analyst Recommendations for Owens Corning (NYSE:OC)

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