Owens Corning (NYSE:OC) Given New $177.00 Price Target at Citigroup

Owens Corning (NYSE:OC) had its target price increased by stock analysts at Citigroup from $149.00 to $177.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Citigroup’s target price indicates a potential upside of 12.58% from the company’s current price.

Other research analysts have also issued research reports about the company. The Goldman Sachs Group increased their price target on Owens Corning from $141.00 to $159.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. Royal Bank Of Canada upped their target price on Owens Corning from $148.00 to $172.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. increased their target price on Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Weiss Ratings raised shares of Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 24th. Finally, Benchmark restated a “hold” rating on shares of Owens Corning in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and an average price target of $163.25.

Owens Corning Stock Up 4.4%

Shares of NYSE OC traded up $6.62 during trading on Friday, hitting $157.22. 1,106,026 shares of the company traded hands, compared to its average volume of 1,297,688. The business’s fifty day moving average is $136.11 and its 200 day moving average is $124.93. Owens Corning has a fifty-two week low of $97.53 and a fifty-two week high of $159.91. The firm has a market capitalization of $12.66 billion, a price-to-earnings ratio of -19.51, a P/E/G ratio of 2.96 and a beta of 1.32. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.74 and a current ratio of 1.16.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, August 5th. The construction company reported $3.93 EPS for the quarter, beating the consensus estimate of $3.09 by $0.84. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%.The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the business posted $4.21 EPS. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. Equities research analysts predict that Owens Corning will post 9.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Owens Corning news, insider Rachel Barthelemy Marcon sold 700 shares of Owens Corning stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total transaction of $84,497.00. Following the transaction, the insider directly owned 15,848 shares of the company’s stock, valued at $1,913,012.08. The trade was a 4.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.92% of the company’s stock.

Institutional Trading of Owens Corning

Several institutional investors and hedge funds have recently made changes to their positions in OC. Louisiana State Employees Retirement System bought a new position in Owens Corning in the 1st quarter worth approximately $2,576,000. BNP Paribas Financial Markets raised its holdings in Owens Corning by 178.2% during the 4th quarter. BNP Paribas Financial Markets now owns 186,652 shares of the construction company’s stock valued at $20,888,000 after acquiring an additional 119,566 shares during the period. Raiffeisen Bank International AG raised its holdings in Owens Corning by 12.4% during the 4th quarter. Raiffeisen Bank International AG now owns 353,302 shares of the construction company’s stock valued at $39,976,000 after acquiring an additional 38,885 shares during the period. Systematic Financial Management LP lifted its position in shares of Owens Corning by 10.8% during the fourth quarter. Systematic Financial Management LP now owns 244,437 shares of the construction company’s stock worth $27,355,000 after acquiring an additional 23,873 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Owens Corning by 1,243.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 39,134 shares of the construction company’s stock worth $4,379,000 after acquiring an additional 36,222 shares during the period. Hedge funds and other institutional investors own 88.40% of the company’s stock.

About Owens Corning

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.