Owens Corning (NYSE:OC) Price Target Cut to $210.00 by Analysts at Loop Capital

Owens Corning (NYSE:OC - Free Report) had its price target reduced by Loop Capital from $215.00 to $210.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the construction company's stock.

A number of other brokerages have also recently weighed in on OC. UBS Group lifted their price target on shares of Owens Corning from $197.00 to $218.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. StockNews.com upgraded shares of Owens Corning from a "hold" rating to a "buy" rating in a report on Saturday, November 9th. Royal Bank of Canada upped their price target on Owens Corning from $213.00 to $217.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Evercore ISI lifted their price objective on Owens Corning from $189.00 to $196.00 and gave the company an "in-line" rating in a research note on Thursday, November 7th. Finally, Citigroup decreased their target price on Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a research note on Monday. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $201.75.

Owens Corning Trading Down 2.5 %

Shares of NYSE OC traded down $4.25 during midday trading on Friday, reaching $167.36. 747,198 shares of the stock were exchanged, compared to its average volume of 561,100. The stock has a market capitalization of $14.36 billion, a P/E ratio of 14.24, a PEG ratio of 2.14 and a beta of 1.46. 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 company has a 50 day simple moving average of $187.14 and a 200 day simple moving average of $177.20. Owens Corning has a twelve month low of $138.70 and a twelve month high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last posted its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating analysts' consensus estimates of $4.05 by $0.33. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company's revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.15 earnings per share. As a group, equities analysts expect that Owens Corning will post 15.46 earnings per share for the current year.

Owens Corning Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Monday, January 6th will be given a dividend of $0.69 per share. This is a boost from Owens Corning's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, January 6th. This represents a $2.76 annualized dividend and a yield of 1.65%. Owens Corning's payout ratio is presently 23.49%.

Insiders Place Their Bets

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the company's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the sale, the insider now owns 18,866 shares of the company's stock, valued at $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.89% of the stock is currently owned by company insiders.

Institutional Trading of Owens Corning

A number of hedge funds have recently bought and sold shares of OC. Wealth Enhancement Advisory Services LLC lifted its position in Owens Corning by 1.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,893 shares of the construction company's stock valued at $1,217,000 after buying an additional 100 shares in the last quarter. Fortem Financial Group LLC lifted its position in shares of Owens Corning by 2.2% during the fourth quarter. Fortem Financial Group LLC now owns 11,842 shares of the construction company's stock worth $2,017,000 after purchasing an additional 252 shares during the last quarter. CWA Asset Management Group LLC grew its position in shares of Owens Corning by 29.9% in the 4th quarter. CWA Asset Management Group LLC now owns 7,697 shares of the construction company's stock worth $1,311,000 after acquiring an additional 1,773 shares in the last quarter. Nordea Investment Management AB increased its stake in Owens Corning by 12.5% during the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company's stock valued at $366,166,000 after purchasing an additional 238,694 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new position in Owens Corning in the fourth quarter worth about $341,000. 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.