Barclays Has Lowered Expectations for Owens Corning (NYSE:OC) Stock Price

Owens Corning (NYSE:OC) had its price target reduced by research analysts at Barclays from $179.00 to $167.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. Barclays‘s price objective points to a potential upside of 22.41% from the stock’s previous close.

OC has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Owens Corning in a report on Tuesday, April 1st. They issued a “buy” rating and a $183.00 target price on the stock. JPMorgan Chase & Co. cut their price objective on Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Royal Bank of Canada dropped their price target on Owens Corning from $212.00 to $199.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Wells Fargo & Company reduced their price objective on Owens Corning from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, UBS Group cut their target price on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $188.55.

Owens Corning Stock Up 0.7 %

OC opened at $136.43 on Thursday. The stock has a market cap of $11.67 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 1.88 and a beta of 1.44. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The firm’s fifty day moving average is $141.20 and its 200 day moving average is $168.00. Owens Corning has a fifty-two week low of $123.41 and a fifty-two week high of $214.53.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, May 7th. The construction company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.15. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.52 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.40 earnings per share. On average, sell-side analysts forecast that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Institutional Trading of Owens Corning

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Owens Corning during the 4th quarter worth approximately $208,519,000. Vanguard Group Inc. increased its stake in Owens Corning by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 9,815,685 shares of the construction company’s stock worth $1,401,876,000 after buying an additional 1,053,855 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Owens Corning by 41.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,422,828 shares of the construction company’s stock valued at $242,337,000 after buying an additional 414,770 shares during the period. Raiffeisen Bank International AG bought a new stake in shares of Owens Corning during the fourth quarter valued at approximately $51,400,000. Finally, Raymond James Financial Inc. bought a new position in Owens Corning in the fourth quarter worth approximately $51,220,000. 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.