Evercore ISI Raises Owens Corning (NYSE:OC) Price Target to $172.00

Owens Corning (NYSE:OC) had its price target boosted by stock analysts at Evercore ISI from $154.00 to $172.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “in-line” rating on the construction company’s stock. Evercore ISI’s price target suggests a potential upside of 5.50% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Royal Bank of Canada decreased their price objective on Owens Corning from $183.00 to $175.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Citigroup upped their target price on Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. JPMorgan Chase & Co. decreased their price objective on Owens Corning from $164.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 20th. Loop Capital increased their price objective on shares of Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Finally, UBS Group dropped their price target on shares of Owens Corning from $175.00 to $169.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $163.43.

Owens Corning Trading Down 1.3 %

Shares of OC stock traded down $2.19 during trading hours on Thursday, reaching $163.03. 47,013 shares of the stock traded hands, compared to its average volume of 665,808. The firm has a market capitalization of $14.19 billion, a PE ratio of 12.36, a PEG ratio of 7.08 and a beta of 1.47. Owens Corning has a 1-year low of $98.02 and a 1-year high of $173.65. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.50. The business has a fifty day moving average price of $158.41 and a 200 day moving average price of $145.80.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, beating the consensus estimate of $3.04 by $0.55. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Owens Corning had a net margin of 12.36% and a return on equity of 25.88%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.77 EPS. On average, equities research analysts forecast that Owens Corning will post 13.92 EPS for the current year.

Insider Buying and Selling

In related news, insider Gunner Smith sold 708 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $153.73, for a total value of $108,840.84. Following the sale, the insider now owns 39,994 shares in the company, valued at $6,148,277.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Brian Chambers sold 9,100 shares of Owens Corning stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the transaction, the chief executive officer now owns 269,696 shares in the company, valued at approximately $41,417,214.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gunner Smith sold 708 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $153.73, for a total transaction of $108,840.84. Following the sale, the insider now owns 39,994 shares in the company, valued at $6,148,277.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,672 shares of company stock worth $3,325,799. 0.89% of the stock is owned by insiders.

Institutional Trading of Owens Corning

Several institutional investors and hedge funds have recently modified their holdings of the company. MV Capital Management Inc. increased its holdings in Owens Corning by 112.9% in the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after acquiring an additional 79 shares during the last quarter. NBC Securities Inc. bought a new stake in Owens Corning in the 1st quarter valued at $26,000. Contravisory Investment Management Inc. bought a new stake in Owens Corning in the 4th quarter valued at $27,000. Bruce G. Allen Investments LLC bought a new stake in Owens Corning in the 4th quarter valued at $27,000. Finally, Riverview Trust Co bought a new stake in Owens Corning in the 1st quarter valued at $28,000. 88.40% of the stock is currently owned by 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.