Owens Corning (NYSE:OC) Stock Price Expected to Rise, UBS Group Analyst Says

Owens Corning (NYSE:OC) had its price objective raised by research analysts at UBS Group from $160.00 to $172.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. UBS Group’s price target would suggest a potential upside of 41.00% from the stock’s current price.

Several other brokerages have also recently weighed in on OC. Weiss Ratings reiterated a “sell (d+)” rating on shares of Owens Corning in a research note on Monday, December 29th. Wells Fargo & Company upped their target price on shares of Owens Corning from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, February 11th. Argus upgraded shares of Owens Corning to a “strong-buy” rating in a research note on Wednesday, January 14th. Citigroup reduced their price objective on Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Finally, Barclays lifted their target price on Owens Corning from $130.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $151.58.

Owens Corning Price Performance

NYSE OC opened at $121.99 on Thursday. The stock has a market capitalization of $10.03 billion, a price-to-earnings ratio of -19.06, a PEG ratio of 2.58 and a beta of 1.36. Owens Corning has a 1-year low of $97.53 and a 1-year high of $159.42. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.26 and a quick ratio of 0.86. The business’s fifty day moving average price is $123.51 and its 200-day moving average price is $127.71.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, February 25th. The construction company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.26). Owens Corning had a positive return on equity of 21.93% and a negative net margin of 5.17%.The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the previous year, the firm earned $3.22 EPS. The business’s revenue was down 16.8% on a year-over-year basis. On average, equities analysts predict that Owens Corning will post 15.49 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OC. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Owens Corning in the second quarter worth about $26,000. Rexford Capital Inc. purchased a new position in Owens Corning during the 2nd quarter valued at approximately $28,000. Itau Unibanco Holding S.A. bought a new stake in Owens Corning in the 4th quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Owens Corning during the 2nd quarter worth approximately $30,000. Finally, Vermillion & White Wealth Management Group LLC raised its holdings in shares of Owens Corning by 149.4% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 222 shares of the construction company’s stock worth $31,000 after acquiring an additional 133 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Company Profile

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.