JPMorgan Chase & Co. Lowers Owens Corning (NYSE:OC) Price Target to $176.00

Owens Corning (NYSE:OC) had its price target decreased by research analysts at JPMorgan Chase & Co. from $200.00 to $176.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 22.22% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Benchmark reissued a “hold” rating on shares of Owens Corning in a report on Monday. Citigroup dropped their price target on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Loop Capital reduced their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Evercore ISI raised their target price on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, Barclays reduced their price target on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and a consensus target price of $204.18.

Owens Corning Stock Performance

Shares of Owens Corning stock traded down $4.50 during trading hours on Tuesday, reaching $144.00. 825,687 shares of the stock traded hands, compared to its average volume of 846,522. 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 capitalization of $12.32 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 1.88 and a beta of 1.46. The company has a 50 day moving average price of $174.96 and a 200 day moving average price of $178.82. Owens Corning has a one year low of $140.94 and a one year 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 (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the firm posted $3.21 EPS. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. On average, equities research analysts expect that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 11,635 shares of the company’s stock, valued at $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gunner Smith sold 17,450 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the transaction, the insider now directly owns 18,866 shares in the company, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Owens Corning

A number of large investors have recently bought and sold shares of OC. FPC Investment Advisory Inc. acquired a new stake in Owens Corning during the fourth quarter worth about $28,000. Venturi Wealth Management LLC increased its holdings in shares of Owens Corning by 55.8% during the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after purchasing an additional 63 shares in the last quarter. Global Trust Asset Management LLC acquired a new position in shares of Owens Corning in the 4th quarter valued at $31,000. Wilmington Savings Fund Society FSB increased its holdings in Owens Corning by 193.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after buying an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Owens Corning during the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

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.