Citigroup Has Lowered Expectations for Owens Corning (NYSE:OC) Stock Price

Owens Corning (NYSE:OC - Get Free Report) had its price target decreased by research analysts at Citigroup from $212.00 to $207.00 in a report released on Monday,Benzinga reports. The firm presently has a "buy" rating on the construction company's stock. Citigroup's price target would suggest a potential upside of 21.02% from the stock's current price.

Several other equities analysts have also weighed in on the stock. StockNews.com raised shares of Owens Corning from a "hold" rating to a "buy" rating in a report on Saturday, November 9th. Evercore ISI lifted their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the company an "in-line" rating in a report on Thursday, November 7th. The Goldman Sachs Group increased their target price on shares of Owens Corning from $178.00 to $198.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Royal Bank of Canada lifted their price target on Owens Corning from $213.00 to $217.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company upgraded Owens Corning from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $195.00 to $225.00 in a research report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $202.17.

Owens Corning Stock Performance

NYSE OC traded down $1.10 on Monday, reaching $171.04. 441,169 shares of the company's stock traded hands, compared to its average volume of 526,090. Owens Corning has a fifty-two week low of $138.70 and a fifty-two 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 firm has a market cap of $14.67 billion, a price-to-earnings ratio of 14.56, a P/E/G ratio of 2.14 and a beta of 1.46. The stock has a 50 day moving average price of $187.70 and a 200-day moving average price of $177.35.

Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.33. The business had revenue of $3.05 billion during the quarter, compared to analysts' expectations 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 firm posted $4.15 EPS. Equities research analysts predict that Owens Corning will post 15.46 EPS for the current fiscal year.

Insider Transactions at Owens Corning

In related news, insider Gunner Smith sold 17,450 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the completion of the sale, the insider now owns 18,866 shares of the company's stock, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.89% of the company's stock.

Institutional Trading of Owens Corning

Large investors have recently added to or reduced their stakes in the stock. Brooklyn Investment Group acquired a new position in shares of Owens Corning during the 3rd quarter valued at about $38,000. Quarry LP boosted its holdings in Owens Corning by 165.5% in the 2nd quarter. Quarry LP now owns 231 shares of the construction company's stock valued at $40,000 after purchasing an additional 144 shares during the last quarter. Tobam grew its stake in shares of Owens Corning by 38.0% in the 3rd quarter. Tobam now owns 265 shares of the construction company's stock valued at $47,000 after buying an additional 73 shares during the period. Versant Capital Management Inc increased its holdings in shares of Owens Corning by 88.1% during the 4th quarter. Versant Capital Management Inc now owns 380 shares of the construction company's stock worth $65,000 after buying an additional 178 shares during the last quarter. Finally, NBC Securities Inc. increased its holdings in shares of Owens Corning by 85.3% during the 3rd quarter. NBC Securities Inc. now owns 515 shares of the construction company's stock worth $90,000 after buying an additional 237 shares during the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

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.