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

Owens Corning (NYSE:OC) had its target price cut by equities researchers at Barclays from $245.00 to $215.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. Barclays‘s price target points to a potential upside of 41.57% from the stock’s current price.

OC has been the topic of several other reports. Evercore ISI boosted their target price on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Citigroup cut their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Royal Bank of Canada cut their price target on shares of Owens Corning from $224.00 to $212.00 and set an “outperform” rating on the stock in a report on Tuesday. Wells Fargo & Company decreased their price objective on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, UBS Group lowered their price objective on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $207.00.

Owens Corning Price Performance

Shares of OC stock opened at $151.86 on Wednesday. The business’s fifty day moving average is $175.72 and its 200 day moving average is $178.65. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The stock has a market cap of $13.03 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 1.88 and a beta of 1.46. Owens Corning has a twelve month low of $148.62 and a twelve month high of $214.53.

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

Insider Activity at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction on Thursday, February 6th. The stock was 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 owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the completion of the transaction, the insider now owns 18,866 shares in the company, valued at $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Institutional Trading of Owens Corning

Institutional investors have recently made changes to their positions in the business. FPC Investment Advisory Inc. purchased a new stake in Owens Corning during the 4th quarter valued at approximately $28,000. Venturi Wealth Management LLC boosted its position in shares of Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after acquiring an additional 63 shares during the last quarter. Global Trust Asset Management LLC purchased a new position in Owens Corning during the fourth quarter valued at $31,000. Wilmington Savings Fund Society FSB grew its stake in Owens Corning by 193.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after acquiring an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in Owens Corning in the 4th quarter valued at $34,000. Hedge funds and other institutional investors 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.