Owens Corning (NYSE:OC) Rating Increased to Outperform at Wolfe Research

Wolfe Research upgraded shares of Owens Corning (NYSE:OC) from a peer perform rating to an outperform rating in a research note issued to investors on Friday, MarketBeat Ratings reports.

OC has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their target price on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Wells Fargo & Company reduced their price objective on Owens Corning from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Thursday. Royal Bank of Canada dropped their target price on Owens Corning from $199.00 to $184.00 and set an “outperform” rating on the stock in a research report on Thursday. StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, UBS Group dropped their price objective on Owens Corning from $235.00 to $218.00 and set a “buy” rating on the stock in a report on Thursday. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Owens Corning has an average rating of “Moderate Buy” and a consensus price target of $188.55.

Owens Corning Trading Up 0.7 %

NYSE OC opened at $136.43 on Friday. The firm’s 50 day moving average price is $141.20 and its two-hundred day moving average price is $168.00. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a twelve month low of $123.41 and a twelve month high of $214.53. The stock has a market cap of $11.60 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.88 and a beta of 1.44.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, May 7th. The construction company reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.15. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the previous year, the firm earned $3.40 earnings per share. Owens Corning’s quarterly revenue was up 25.4% on a year-over-year basis. Equities analysts anticipate that Owens Corning will post 15.49 EPS for the current year.

Institutional Trading of Owens Corning

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OC. Barclays PLC grew its holdings in shares of Owens Corning by 23.3% during the 3rd quarter. Barclays PLC now owns 125,756 shares of the construction company’s stock worth $22,197,000 after purchasing an additional 23,787 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Owens Corning by 1.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,893 shares of the construction company’s stock valued at $1,217,000 after buying an additional 100 shares during the period. Accurate Wealth Management LLC increased its holdings in Owens Corning by 47.3% in the 4th quarter. Accurate Wealth Management LLC now owns 5,221 shares of the construction company’s stock valued at $875,000 after buying an additional 1,676 shares during the period. Park Avenue Securities LLC raised its stake in shares of Owens Corning by 31.6% in the 4th quarter. Park Avenue Securities LLC now owns 5,964 shares of the construction company’s stock valued at $1,016,000 after buying an additional 1,431 shares in the last quarter. Finally, Carolina Wealth Advisors LLC increased its stake in Owens Corning by 2.6% in the fourth quarter. Carolina Wealth Advisors LLC now owns 4,427 shares of the construction company’s stock valued at $754,000 after acquiring an additional 113 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

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.