Barclays Lowers Owens Corning (NYSE:OC) Price Target to $179.00

Owens Corning (NYSE:OC - Get Free Report) had its target price lowered by research analysts at Barclays from $215.00 to $179.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the construction company's stock. Barclays's target price indicates a potential upside of 28.92% from the company's previous close.

OC has been the subject of a number of other reports. Wells Fargo & Company decreased their target price on Owens Corning from $225.00 to $200.00 and set an "overweight" rating for the company in a research note on Tuesday, February 25th. Benchmark restated a "hold" rating on shares of Owens Corning in a research note on Monday, March 3rd. JPMorgan Chase & Co. cut their target price on Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Loop Capital lowered their price target on shares of Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Finally, Citigroup cut their price objective on shares of Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $199.42.

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Owens Corning Stock Up 3.2 %

Shares of NYSE OC traded up $4.36 during midday trading on Tuesday, reaching $138.84. 1,018,788 shares of the company's stock were exchanged, compared to its average volume of 799,733. The stock has a market capitalization of $11.88 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39. Owens Corning has a 52-week low of $123.41 and a 52-week high of $214.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The business's fifty day moving average price is $152.71 and its two-hundred day moving average price is $173.49.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period last year, the business earned $3.21 EPS. The firm's revenue for the quarter was up 23.3% compared to the same quarter last year. Analysts forecast that Owens Corning will post 15.49 EPS for the current year.

Insider Buying and Selling

In related news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the transaction, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.82% of the stock is currently owned by insiders.

Institutional Trading of Owens Corning

Institutional investors and hedge funds have recently bought and sold shares of the stock. Truist Financial Corp raised its holdings in shares of Owens Corning by 4.0% during the fourth quarter. Truist Financial Corp now owns 16,038 shares of the construction company's stock valued at $2,732,000 after acquiring an additional 624 shares during the period. Allstate Corp purchased a new position in Owens Corning during the 4th quarter worth approximately $425,000. Integrated Quantitative Investments LLC acquired a new stake in Owens Corning during the 4th quarter valued at $349,000. Janus Henderson Group PLC lifted its holdings in shares of Owens Corning by 3.1% in the third quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company's stock valued at $1,189,000 after purchasing an additional 200 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Owens Corning by 88.9% in the fourth quarter. Principal Financial Group Inc. now owns 392,031 shares of the construction company's stock worth $66,777,000 after buying an additional 184,552 shares during the period. Institutional investors and hedge funds own 88.40% of the company's stock.

Owens Corning Company Profile

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.