Owens Corning (NYSE:OC) Receives Hold (C) Rating from Weiss Ratings

Owens Corning (NYSE:OC)‘s stock had its “hold (c)” rating reiterated by equities researchers at Weiss Ratings in a report issued on Saturday,Weiss Ratings reports.

Other equities research analysts have also recently issued research reports about the company. Evercore ISI lowered their price target on Owens Corning from $169.00 to $153.00 and set an “in-line” rating on the stock in a report on Tuesday, October 7th. Jefferies Financial Group decreased their price target on Owens Corning from $185.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Truist Financial reduced their target price on shares of Owens Corning from $165.00 to $135.00 and set a “hold” rating for the company in a research note on Thursday, October 9th. Royal Bank Of Canada lowered their price target on shares of Owens Corning from $184.00 to $180.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. Finally, Barclays lifted their price objective on shares of Owens Corning from $167.00 to $173.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Ten equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $178.31.

Owens Corning Stock Down 0.6%

Shares of NYSE:OC opened at $127.87 on Friday. The company has a market cap of $10.69 billion, a PE ratio of 33.21, a price-to-earnings-growth ratio of 9.33 and a beta of 1.32. Owens Corning has a 52 week low of $123.23 and a 52 week high of $214.53. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.95 and a current ratio of 1.52. The firm has a 50 day simple moving average of $142.69 and a 200 day simple moving average of $141.19.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, August 6th. The construction company reported $4.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.80 by $0.41. The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.70 billion. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $4.64 earnings per share. As a group, research analysts expect that Owens Corning will post 15.49 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in OC. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Owens Corning during the 2nd quarter valued at approximately $26,000. Bangor Savings Bank bought a new position in shares of Owens Corning in the second quarter worth about $28,000. Rexford Capital Inc. acquired a new stake in Owens Corning in the 2nd quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Owens Corning during the 2nd quarter worth $30,000. Finally, Vermillion & White Wealth Management Group LLC raised its holdings in Owens Corning by 149.4% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 222 shares of the construction company’s stock valued at $31,000 after buying an additional 133 shares during the period. 88.40% of the stock is owned by institutional investors.

Owens Corning Company Profile

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.