Wells Fargo & Company Lowers Owens Corning (NYSE:OC) Price Target to $155.00

Owens Corning (NYSE:OC - Get Free Report) had its price objective cut by equities research analysts at Wells Fargo & Company from $200.00 to $155.00 in a report issued on Monday,Benzinga reports. The firm currently has an "overweight" rating on the construction company's stock. Wells Fargo & Company's target price would indicate a potential upside of 12.34% from the company's previous close.

Several other research firms have also recently commented on OC. StockNews.com cut shares of Owens Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. UBS Group lowered their price target on Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Owens Corning in a research report on Tuesday, April 1st. They issued a "buy" rating and a $183.00 target price for the company. Benchmark reissued a "hold" rating on shares of Owens Corning in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. reduced their target price on Owens Corning from $200.00 to $176.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Five analysts have rated the stock with a hold rating and nine have issued 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 target price of $194.58.

Owens Corning Trading Up 1.0 %

Owens Corning stock traded up $1.35 during midday trading on Monday, reaching $137.98. The stock had a trading volume of 1,891,879 shares, compared to its average volume of 808,443. Owens Corning has a twelve month low of $123.41 and a twelve month high of $214.53. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The firm has a market cap of $11.80 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 1.88 and a beta of 1.39. The firm's fifty day simple moving average is $148.43 and its two-hundred day simple moving average is $172.23.

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

Insider Buying and Selling

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were 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 directly owns 11,635 shares of the company's stock, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Owens Corning

Several hedge funds and other institutional investors have recently made changes to their positions in OC. Financial Partners Group LLC increased its position in Owens Corning by 18.0% in the first quarter. Financial Partners Group LLC now owns 9,735 shares of the construction company's stock worth $1,390,000 after purchasing an additional 1,482 shares during the period. QRG Capital Management Inc. boosted its stake in Owens Corning by 1.8% during the 1st quarter. QRG Capital Management Inc. now owns 20,325 shares of the construction company's stock worth $2,903,000 after acquiring an additional 361 shares during the last quarter. Precision Wealth Strategies LLC increased its stake in Owens Corning by 5.1% in the first quarter. Precision Wealth Strategies LLC now owns 2,345 shares of the construction company's stock valued at $335,000 after purchasing an additional 113 shares in the last quarter. Precedent Wealth Partners LLC boosted its position in shares of Owens Corning by 27.4% during the first quarter. Precedent Wealth Partners LLC now owns 7,463 shares of the construction company's stock worth $1,066,000 after purchasing an additional 1,606 shares in the last quarter. Finally, Sowell Financial Services LLC acquired a new position in shares of Owens Corning in the 1st quarter valued at $211,000. 88.40% of the stock is owned by institutional investors and hedge funds.

About Owens Corning

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.