Evercore ISI Issues Positive Forecast for Owens Corning (NYSE:OC) Stock Price

Owens Corning (NYSE:OC - Get Free Report) had its price objective boosted by analysts at Evercore ISI from $189.00 to $196.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an "in-line" rating on the construction company's stock. Evercore ISI's price target would indicate a potential upside of 4.56% from the stock's current price.

A number of other brokerages have also weighed in on OC. Wells Fargo & Company raised their price target on shares of Owens Corning from $165.00 to $175.00 and gave the company an "equal weight" rating in a research note on Monday, October 7th. Barclays lowered their price target on shares of Owens Corning from $190.00 to $189.00 and set an "equal weight" rating on the stock in a research report on Friday, July 12th. UBS Group increased their price objective on Owens Corning from $192.00 to $197.00 and gave the stock a "buy" rating in a research report on Wednesday, August 7th. Royal Bank of Canada boosted their price target on shares of Owens Corning from $211.00 to $213.00 and gave the company an "outperform" rating in a research note on Wednesday, August 7th. Finally, Citigroup upgraded Owens Corning from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $178.00 to $191.00 in a report on Thursday, July 11th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $192.62.

Owens Corning Stock Performance

OC stock traded up $2.82 during midday trading on Thursday, hitting $187.46. 919,943 shares of the stock traded hands, compared to its average volume of 682,967. Owens Corning has a 1-year low of $120.17 and a 1-year high of $191.44. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. The stock's fifty day simple moving average is $174.98 and its 200-day simple moving average is $173.36. The firm has a market cap of $16.30 billion, a P/E ratio of 15.83, a PEG ratio of 2.20 and a beta of 1.41.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.01 by $0.37. The firm had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. Owens Corning's revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.15 EPS. On average, analysts expect that Owens Corning will post 15.34 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of OC. ST Germain D J Co. Inc. lifted its position in Owens Corning by 794.1% in the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company's stock valued at $26,000 after purchasing an additional 135 shares during the period. ORG Partners LLC purchased a new stake in shares of Owens Corning in the first quarter valued at approximately $31,000. Innealta Capital LLC acquired a new position in Owens Corning during the second quarter worth $32,000. Tobam raised its position in Owens Corning by 115.7% in the second quarter. Tobam now owns 192 shares of the construction company's stock worth $33,000 after acquiring an additional 103 shares in the last quarter. Finally, Quarry LP lifted its holdings in Owens Corning by 165.5% in the second quarter. Quarry LP now owns 231 shares of the construction company's stock valued at $40,000 after acquiring an additional 144 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.