StockNews.com Upgrades Owens Corning (NYSE:OC) to Buy

Owens Corning (NYSE:OC - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Thursday.

Several other brokerages have also recently issued reports on OC. Benchmark reiterated a "hold" rating on shares of Owens Corning in a report on Wednesday, August 7th. Royal Bank of Canada lifted their price objective on shares of Owens Corning from $211.00 to $213.00 and gave the company an "outperform" rating in a report on Wednesday, August 7th. UBS Group boosted their price objective on shares of Owens Corning from $192.00 to $197.00 and gave the stock a "buy" rating in a research note on Wednesday, August 7th. Citigroup raised Owens Corning from a "neutral" rating to a "buy" rating and increased their target price for the company from $178.00 to $191.00 in a research report on Thursday, July 11th. Finally, Barclays reduced their price target on Owens Corning from $190.00 to $189.00 and set an "equal weight" rating for the company in a research report on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $187.77.

Owens Corning Trading Up 1.2 %

Shares of NYSE OC traded up $2.11 during trading hours on Thursday, reaching $183.43. The stock had a trading volume of 725,069 shares, compared to its average volume of 693,192. Owens Corning has a 52-week low of $109.95 and a 52-week high of $191.44. The firm has a market cap of $15.95 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 2.24 and a beta of 1.41. The business's fifty day moving average price is $171.59 and its two-hundred day moving average price is $172.19. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91.

Owens Corning (NYSE:OC - Get Free Report) last issued its earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, topping the consensus estimate of $4.37 by $0.27. The business had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.92 billion. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The business's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business earned $4.22 EPS. Analysts expect that Owens Corning will post 15.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Marcio A. Sandri sold 3,051 shares of the company's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the transaction, the insider now directly owns 57,079 shares of the company's stock, valued at $10,074,443.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the transaction, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the sale, the insider now owns 57,079 shares of the company's stock, valued at approximately $10,074,443.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Institutional Trading of Owens Corning

Hedge funds and other institutional investors have recently made changes to their positions in the business. Retirement Guys Formula LLC lifted its position in Owens Corning by 3.1% during the third quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company's stock valued at $342,000 after purchasing an additional 58 shares during the period. PFG Investments LLC boosted its stake in shares of Owens Corning by 3.9% in the third quarter. PFG Investments LLC now owns 1,828 shares of the construction company's stock worth $323,000 after buying an additional 68 shares during the last quarter. Tobam boosted its stake in shares of Owens Corning by 38.0% in the third quarter. Tobam now owns 265 shares of the construction company's stock worth $47,000 after buying an additional 73 shares during the last quarter. First Bank & Trust grew its holdings in Owens Corning by 2.0% during the third quarter. First Bank & Trust now owns 3,658 shares of the construction company's stock worth $646,000 after acquiring an additional 73 shares during the period. Finally, Bessemer Group Inc. raised its position in Owens Corning by 24.9% during the first quarter. Bessemer Group Inc. now owns 391 shares of the construction company's stock valued at $65,000 after acquiring an additional 78 shares in the last quarter. 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.

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