Owens Corning (NYSE:OC) Stock Price Expected to Rise, UBS Group Analyst Says

Owens Corning (NYSE:OCGet Free Report) had its price objective hoisted by equities research analysts at UBS Group from $160.00 to $172.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. UBS Group’s target price indicates a potential upside of 42.49% from the company’s current price.

Several other brokerages have also recently weighed in on OC. Citigroup decreased their price objective on Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Argus upgraded Owens Corning to a “strong-buy” rating in a research note on Wednesday, January 14th. Wells Fargo & Company upped their price objective on Owens Corning from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 11th. Weiss Ratings reissued a “sell (d+)” rating on shares of Owens Corning in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Owens Corning from $157.00 to $113.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $151.58.

Check Out Our Latest Stock Analysis on Owens Corning

Owens Corning Stock Down 2.2%

Shares of OC traded down $2.77 during midday trading on Thursday, hitting $120.71. The stock had a trading volume of 891,186 shares, compared to its average volume of 1,365,334. The firm has a market cap of $9.92 billion, a price-to-earnings ratio of -21.10, a price-to-earnings-growth ratio of 2.65 and a beta of 1.36. The company has a 50 day simple moving average of $123.24 and a two-hundred day simple moving average of $127.89. Owens Corning has a twelve month low of $97.53 and a twelve month high of $159.42. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.40 and a quick ratio of 0.86.

Owens Corning (NYSE:OCGet Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The construction company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.26). The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.17 billion. Owens Corning had a positive return on equity of 24.42% and a negative net margin of 4.46%.The firm’s quarterly revenue was down 16.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.22 earnings per share. On average, analysts anticipate that Owens Corning will post 15.49 EPS for the current year.

Institutional Investors Weigh In On Owens Corning

Several institutional investors and hedge funds have recently added to or reduced their stakes in OC. Ariel Investments LLC boosted its position in Owens Corning by 24.8% in the second quarter. Ariel Investments LLC now owns 140,449 shares of the construction company’s stock worth $19,315,000 after purchasing an additional 27,871 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in shares of Owens Corning by 231.4% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 48,843 shares of the construction company’s stock worth $6,909,000 after acquiring an additional 34,106 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Owens Corning by 6.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 456,952 shares of the construction company’s stock valued at $62,840,000 after acquiring an additional 28,814 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in Owens Corning by 6.1% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 42,020 shares of the construction company’s stock worth $5,779,000 after purchasing an additional 2,421 shares during the period. Finally, Caprock Group LLC purchased a new position in Owens Corning during the third quarter valued at $1,742,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Key Owens Corning News

Here are the key news stories impacting Owens Corning this week:

About Owens Corning

(Get Free Report)

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.

See Also

Analyst Recommendations for Owens Corning (NYSE:OC)

Receive News & Ratings for Owens Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning and related companies with MarketBeat.com's FREE daily email newsletter.