Owens Corning (NYSE:OC) Price Target Lowered to $135.00 at Barclays

Owens Corning (NYSE:OC) had its price objective dropped by equities researchers at Barclays from $138.00 to $135.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. Barclays‘s target price points to a potential upside of 20.23% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company lifted their target price on shares of Owens Corning from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 11th. Argus raised shares of Owens Corning to a “strong-buy” rating in a research note on Wednesday, January 14th. Citigroup reduced their price objective on shares of Owens Corning from $137.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. UBS Group boosted their price objective 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. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Owens Corning in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $148.45.

Owens Corning Trading Up 6.8%

Shares of NYSE OC traded up $7.16 during mid-day trading on Wednesday, hitting $112.28. The stock had a trading volume of 512,882 shares, compared to its average volume of 1,441,217. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.70 and a current ratio of 1.26. Owens Corning has a 1 year low of $97.53 and a 1 year high of $159.42. The business has a 50 day moving average price of $117.71 and a two-hundred day moving average price of $119.06. The firm has a market cap of $9.03 billion, a P/E ratio of -17.60, a price-to-earnings-growth ratio of 1.71 and a beta of 1.35.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, February 25th. The construction company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.26). Owens Corning had a positive return on equity of 21.93% and a negative net margin of 5.17%.The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the previous year, the firm earned $3.22 earnings per share. The firm’s quarterly revenue was down 16.8% compared to the same quarter last year. On average, equities analysts anticipate that Owens Corning will post 15.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of OC. Rexford Capital Inc. purchased a new position in Owens Corning during the 2nd quarter valued at about $28,000. Itau Unibanco Holding S.A. purchased a new position in Owens Corning during the 4th quarter valued at about $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Owens Corning during the 2nd quarter valued at about $30,000. Harbour Investments Inc. boosted its stake in Owens Corning by 66.5% in the 4th quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock worth $36,000 after purchasing an additional 129 shares in the last quarter. Finally, Root Financial Partners LLC purchased a new stake in Owens Corning during the 3rd quarter valued at about $39,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

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.