Owens Corning (NYSE:OC) Upgraded at Barclays

Owens Corning (NYSE:OC – Get Rating) was upgraded by Barclays from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Wednesday, The Fly reports. The brokerage currently has a $135.00 price objective on the construction company’s stock, up from their previous price objective of $113.00. Barclays‘s price target suggests a potential upside of 23.66% from the company’s previous close.

A number of other equities analysts have also weighed in on OC. Citigroup lifted their price objective on shares of Owens Corning from $90.00 to $104.00 and gave the company a “neutral” rating in a research report on Friday, February 17th. UBS Group lifted their price objective on shares of Owens Corning from $121.00 to $128.00 and gave the company a “buy” rating in a research report on Thursday, February 16th. Credit Suisse Group lifted their price objective on shares of Owens Corning from $90.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, February 16th. StockNews.com assumed coverage on shares of Owens Corning in a research report on Thursday, May 18th. They issued a “strong-buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Owens Corning from $102.00 to $110.00 in a research report on Monday, May 1st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $107.92.

Owens Corning Trading Up 0.9 %

Shares of OC stock opened at $109.17 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.86 and a quick ratio of 1.17. The firm has a market cap of $9.84 billion, a PE ratio of 7.90, a price-to-earnings-growth ratio of 1.81 and a beta of 1.41. The company has a 50-day moving average of $100.44 and a two-hundred day moving average of $95.42. Owens Corning has a 1-year low of $72.97 and a 1-year high of $112.17.

Owens Corning (NYSE:OC – Get Rating) last issued its earnings results on Wednesday, April 26th. The construction company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.55. Owens Corning had a net margin of 13.54% and a return on equity of 26.06%. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter last year, the company earned $2.84 earnings per share. The firm’s revenue was down 2.0% compared to the same quarter last year. On average, analysts predict that Owens Corning will post 10.42 EPS for the current year.

Insider Transactions at Owens Corning

In related news, insider Marcio A. Sandri sold 8,000 shares of the stock in a transaction dated Tuesday, April 18th. The shares were sold at an average price of $100.00, for a total transaction of $800,000.00. Following the completion of the transaction, the insider now directly owns 62,962 shares of the company’s stock, valued at $6,296,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Paula Russell sold 3,000 shares of the firm’s stock in a transaction on Tuesday, April 18th. The shares were sold at an average price of $100.00, for a total value of $300,000.00. Following the transaction, the executive vice president now owns 21,364 shares of the company’s stock, valued at approximately $2,136,400. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Marcio A. Sandri sold 8,000 shares of the firm’s stock in a transaction on Tuesday, April 18th. The shares were sold at an average price of $100.00, for a total transaction of $800,000.00. Following the completion of the transaction, the insider now directly owns 62,962 shares in the company, valued at approximately $6,296,200. The disclosure for this sale can be found here. In the last three months, insiders sold 13,000 shares of company stock valued at $1,290,000. Insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

Hedge funds and other institutional investors have recently modified their holdings of the stock. Empower Advisory Group LLC acquired a new stake in shares of Owens Corning during the first quarter valued at approximately $55,005,000. Toroso Investments LLC grew its position in Owens Corning by 130.1% during the first quarter. Toroso Investments LLC now owns 7,097 shares of the construction company’s stock valued at $680,000 after purchasing an additional 4,013 shares in the last quarter. Ameriprise Financial Inc. grew its position in Owens Corning by 30.9% during the first quarter. Ameriprise Financial Inc. now owns 1,302,482 shares of the construction company’s stock valued at $124,787,000 after purchasing an additional 307,178 shares in the last quarter. Power Corp of Canada purchased a new position in Owens Corning during the first quarter valued at approximately $34,000. Finally, Guardian Wealth Advisors LLC purchased a new position in Owens Corning during the first quarter valued at approximately $355,000. Institutional investors own 94.59% of the company’s stock.

About Owens Corning

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Owens Corning engages in the development, manufacture, and marketing of insulation, roofing, and fiberglass composites. It operates through the following segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber, and includes vertically integrated downstream activities.