Owens Corning (NYSE:OC) had its target price increased by analysts at SunTrust Banks from $55.00 to $63.00 in a report issued on Thursday, BenzingaRatingsTable reports. The firm presently has a “hold” rating on the construction company’s stock. SunTrust Banks’ target price would indicate a potential upside of 4.18% from the company’s current price.
OC has been the topic of a number of other reports. Jefferies Financial Group upped their target price on Owens Corning from $75.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Co upped their price objective on shares of Owens Corning from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. Credit Suisse Group assumed coverage on shares of Owens Corning in a report on Wednesday, May 27th. They set a “neutral” rating and a $48.00 price objective for the company. Stifel Nicolaus upped their target price on shares of Owens Corning from $37.00 to $48.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. Finally, Zacks Investment Research cut shares of Owens Corning from a “buy” rating to a “hold” rating and set a $63.00 price target on the stock. in a research report on Monday, July 20th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the company. Owens Corning has an average rating of “Hold” and an average target price of $62.05.
NYSE:OC opened at $60.47 on Thursday. The firm has a fifty day simple moving average of $56.74 and a two-hundred day simple moving average of $51.88. Owens Corning has a 12 month low of $28.56 and a 12 month high of $68.72. The stock has a market capitalization of $6.61 billion, a price-to-earnings ratio of -10.93, a PEG ratio of 4.54 and a beta of 1.53. The company has a current ratio of 1.87, a quick ratio of 0.89 and a debt-to-equity ratio of 0.94.
Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, July 29th. The construction company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.62. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.53 billion. Owens Corning had a positive return on equity of 11.35% and a negative net margin of 8.79%. The firm’s revenue was down 15.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.31 EPS. Equities analysts predict that Owens Corning will post 3.2 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System grew its holdings in shares of Owens Corning by 1.0% during the first quarter. New York State Teachers Retirement System now owns 39,400 shares of the construction company’s stock worth $1,529,000 after purchasing an additional 400 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in Owens Corning by 5.8% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 7,265 shares of the construction company’s stock worth $282,000 after buying an additional 400 shares in the last quarter. Rock Point Advisors LLC boosted its stake in shares of Owens Corning by 0.8% in the 1st quarter. Rock Point Advisors LLC now owns 51,568 shares of the construction company’s stock valued at $2,001,000 after purchasing an additional 420 shares in the last quarter. OLD National Bancorp IN lifted its stake in Owens Corning by 6.3% in the second quarter. OLD National Bancorp IN now owns 8,360 shares of the construction company’s stock worth $467,000 after purchasing an additional 492 shares during the last quarter. Finally, Botty Investors LLC purchased a new stake in Owens Corning during the second quarter valued at about $28,000. Institutional investors and hedge funds own 95.05% of the company’s stock.
Owens Corning Company Profile
Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.
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