Owens Corning Inc (NYSE:OC – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $144.8182.
OC has been the subject of several recent analyst reports. Wells Fargo & Company boosted their price objective on shares of Owens Corning from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Truist Financial upped their target price on Owens Corning from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, May 7th. UBS Group upped their target price on Owens Corning from $160.00 to $172.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Weiss Ratings lowered Owens Corning from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 18th. Finally, Barclays upped their target price on Owens Corning from $135.00 to $144.00 and gave the company an “overweight” rating in a research report on Monday, May 11th.
Get Our Latest Stock Analysis on Owens Corning
Owens Corning Trading Up 1.9%
Owens Corning (NYSE:OC – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.01 by $0.21. The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.18 billion. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. Owens Corning’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.97 EPS. As a group, sell-side analysts forecast that Owens Corning will post 9.53 EPS for the current fiscal year.
Insider Transactions at Owens Corning
In other Owens Corning news, VP Mari Doerfler sold 1,926 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $120.92, for a total transaction of $232,891.92. Following the transaction, the vice president owned 3,093 shares in the company, valued at approximately $374,005.56. This represents a 38.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.92% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of OC. Arrowstreet Capital Limited Partnership increased its holdings in shares of Owens Corning by 460.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,313,019 shares of the construction company’s stock valued at $146,940,000 after purchasing an additional 1,078,877 shares during the period. Norges Bank acquired a new position in shares of Owens Corning in the fourth quarter valued at about $119,748,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Owens Corning by 721.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,170,179 shares of the construction company’s stock valued at $125,513,000 after purchasing an additional 1,027,800 shares during the period. Gendell Jeffrey L increased its holdings in shares of Owens Corning by 349.3% in the fourth quarter. Gendell Jeffrey L now owns 922,063 shares of the construction company’s stock valued at $103,188,000 after purchasing an additional 716,839 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Owens Corning by 33.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,576,405 shares of the construction company’s stock worth $288,332,000 after acquiring an additional 645,773 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.
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.
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