Owens Corning (NYSE:OC) Price Target Cut to $179.00 by Analysts at Barclays

Owens Corning (NYSE:OC) had its target price lowered by research analysts at Barclays from $215.00 to $179.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. Barclays‘s price target would suggest a potential upside of 39.82% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Loop Capital reduced their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft started coverage on Owens Corning in a research note on Tuesday, April 1st. They set a “buy” rating and a $183.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $212.00 target price on shares of Owens Corning in a research report on Monday, March 17th. Finally, Wells Fargo & Company decreased their price target on Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $199.42.

Owens Corning Stock Performance

Shares of OC traded down $1.76 during trading hours on Tuesday, hitting $128.02. The company had a trading volume of 517,603 shares, compared to its average volume of 788,573. The business has a fifty day moving average of $158.84 and a 200-day moving average of $175.12. 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 firm has a market cap of $10.95 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 1.88 and a beta of 1.39. Owens Corning has a 12 month low of $126.15 and a 12 month high of $214.53.

Owens Corning (NYSE:OC) last announced 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 return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter last year, the company earned $3.21 earnings per share. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. Equities analysts anticipate that Owens Corning will post 15.49 EPS for the current fiscal year.

Insider Activity

In related news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now owns 11,635 shares of the company’s stock, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Owens Corning

Large investors have recently bought and sold shares of the company. Stratos Wealth Partners LTD. grew its holdings in shares of Owens Corning by 4.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock worth $221,000 after purchasing an additional 53 shares during the last quarter. Greenleaf Trust raised its stake in shares of Owens Corning by 1.5% during the fourth quarter. Greenleaf Trust now owns 3,895 shares of the construction company’s stock valued at $663,000 after acquiring an additional 56 shares during the last quarter. CoreCap Advisors LLC lifted its holdings in shares of Owens Corning by 3.3% during the fourth quarter. CoreCap Advisors LLC now owns 1,789 shares of the construction company’s stock worth $305,000 after purchasing an additional 57 shares during the period. Retirement Guys Formula LLC grew its stake in shares of Owens Corning by 3.1% in the fourth quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company’s stock worth $341,000 after purchasing an additional 60 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in Owens Corning by 35.6% in the fourth quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock valued at $40,000 after purchasing an additional 62 shares during the period. 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.