UBS Group Issues Pessimistic Forecast for Owens Corning (NYSE:OC) Stock Price

Owens Corning (NYSE:OC) had its target price reduced by equities researchers at UBS Group from $245.00 to $235.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. UBS Group’s target price points to a potential upside of 47.03% from the stock’s previous close.

Several other research analysts also recently commented on the stock. Loop Capital decreased their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Evercore ISI boosted their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Citigroup cut 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, January 6th. Royal Bank of Canada boosted their target price 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, Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $192.00 to $245.00 in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $210.50.

Owens Corning Price Performance

Shares of NYSE:OC traded down $3.06 on Tuesday, hitting $159.83. The company’s stock had a trading volume of 233,042 shares, compared to its average volume of 722,436. The company has a market capitalization of $13.71 billion, a PE ratio of 13.58, a PEG ratio of 1.88 and a beta of 1.46. 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 company has a 50-day simple moving average of $176.97 and a 200 day simple moving average of $179.00. Owens Corning has a 1 year low of $145.50 and a 1 year high of $214.53.

Owens Corning (NYSE:OC) last released its earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm’s revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.21 earnings per share. Sell-side analysts forecast that Owens Corning will post 15.49 EPS for the current fiscal year.

Insider Activity

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 transaction of $3,336,265.50. Following the completion of the transaction, the insider now directly owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 11,635 shares of the company’s stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of OC. Polar Asset Management Partners Inc. boosted its stake in shares of Owens Corning by 76.7% during the 4th quarter. Polar Asset Management Partners Inc. now owns 20,500 shares of the construction company’s stock worth $3,492,000 after purchasing an additional 8,900 shares during the period. Toronto Dominion Bank increased its stake in Owens Corning by 6.2% in the 4th quarter. Toronto Dominion Bank now owns 11,702 shares of the construction company’s stock worth $1,993,000 after buying an additional 679 shares during the period. Vise Technologies Inc. grew its position in shares of Owens Corning by 96.6% during the 4th quarter. Vise Technologies Inc. now owns 2,434 shares of the construction company’s stock worth $415,000 after buying an additional 1,196 shares in the last quarter. Harmony Asset Management LLC increased its position in shares of Owens Corning by 392.3% during the fourth quarter. Harmony Asset Management LLC now owns 15,090 shares of the construction company’s stock worth $2,570,000 after purchasing an additional 12,025 shares in the last quarter. Finally, PharVision Advisers LLC purchased a new stake in Owens Corning during the 4th quarter worth approximately $322,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

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.