UBS Group Raises Owens Corning (NYSE:OC) Price Target to $192.00

Owens Corning (NYSE:OC) had its target price upped by equities researchers at UBS Group from $169.00 to $192.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. UBS Group’s price objective suggests a potential upside of 16.84% from the company’s previous close.

Several other research firms have also commented on OC. Royal Bank of Canada reduced their price objective on Owens Corning from $183.00 to $175.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Evercore ISI increased their price target on shares of Owens Corning from $154.00 to $172.00 and gave the company an “in-line” rating in a report on Thursday. Citigroup increased their price objective on shares of Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Truist Financial raised their target price on shares of Owens Corning from $115.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, February 15th. Finally, Barclays downgraded shares of Owens Corning from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $170.00 to $160.00 in a research note on Monday, February 12th. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and a consensus target price of $165.07.

Owens Corning Price Performance

OC traded down $0.89 during trading on Thursday, reaching $164.33. The stock had a trading volume of 108,089 shares, compared to its average volume of 666,405. The stock has a market cap of $14.30 billion, a PE ratio of 12.55, a PEG ratio of 7.08 and a beta of 1.47. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.69. Owens Corning has a one year low of $98.02 and a one year high of $173.65. The business has a 50-day moving average of $158.41 and a 200-day moving average of $145.80.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.55. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.28 billion. Owens Corning had a return on equity of 25.88% and a net margin of 12.36%. Owens Corning’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.77 EPS. As a group, equities research analysts anticipate that Owens Corning will post 13.92 EPS for the current fiscal year.

Insider Transactions at Owens Corning

In related news, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $162.00, for a total transaction of $609,930.00. Following the transaction, the executive vice president now directly owns 20,419 shares in the company, valued at $3,307,878. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $162.00, for a total transaction of $609,930.00. Following the transaction, the executive vice president now directly owns 20,419 shares in the company, valued at $3,307,878. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gunner Smith sold 7,442 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $148.99, for a total transaction of $1,108,783.58. Following the completion of the transaction, the insider now owns 36,140 shares in the company, valued at $5,384,498.60. The disclosure for this sale can be found here. Insiders sold 21,672 shares of company stock valued at $3,325,799 over the last 90 days. Corporate insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

A number of large investors have recently modified their holdings of OC. MV Capital Management Inc. boosted its stake in Owens Corning by 112.9% during the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after purchasing an additional 79 shares during the period. NBC Securities Inc. purchased a new position in shares of Owens Corning in the 1st quarter valued at about $26,000. Contravisory Investment Management Inc. purchased a new position in Owens Corning during the 4th quarter valued at about $27,000. Bruce G. Allen Investments LLC purchased a new position in Owens Corning during the 4th quarter valued at about $27,000. Finally, Riverview Trust Co acquired a new stake in shares of Owens Corning during the 1st quarter worth about $28,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

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.