Owens Corning (NYSE:OC) Price Target Cut to $125.00 by Analysts at Wells Fargo & Company

Owens Corning (NYSE:OC) had its price target trimmed by Wells Fargo & Company from $155.00 to $125.00 in a research note published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the construction company’s stock.

OC has been the subject of a number of other research reports. UBS Group increased their price target on shares of Owens Corning from $160.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Citigroup cut their price target on shares of Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Zacks Research downgraded shares of Owens Corning from a “hold” rating to a “strong sell” rating in a report on Monday, March 16th. Argus upgraded shares of Owens Corning to a “strong-buy” rating in a report on Wednesday, January 14th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Owens Corning in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $145.73.

Owens Corning Stock Performance

Shares of OC opened at $112.91 on Wednesday. The company has a 50-day simple moving average of $117.56 and a 200-day simple moving average of $119.01. The company has a quick ratio of 0.70, a current ratio of 1.26 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $9.08 billion, a PE ratio of -17.64, a P/E/G ratio of 1.71 and a beta of 1.35. Owens Corning has a 52-week low of $97.53 and a 52-week high of $159.42.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, February 25th. The construction company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.26). The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.17 billion. Owens Corning had a negative net margin of 5.17% and a positive return on equity of 21.93%. The business’s revenue for the quarter was down 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.22 EPS. Equities research analysts predict that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Monday, March 9th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, March 9th. Owens Corning’s payout ratio is -49.38%.

Institutional Trading of Owens Corning

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ariel Investments LLC boosted its holdings in Owens Corning by 24.8% in the second quarter. Ariel Investments LLC now owns 140,449 shares of the construction company’s stock worth $19,315,000 after purchasing an additional 27,871 shares during the period. Ashton Thomas Private Wealth LLC boosted its holdings in Owens Corning by 231.4% in the third quarter. Ashton Thomas Private Wealth LLC now owns 48,843 shares of the construction company’s stock worth $6,909,000 after purchasing an additional 34,106 shares during the period. JPMorgan Chase & Co. boosted its holdings in Owens Corning by 99.4% in the third quarter. JPMorgan Chase & Co. now owns 911,334 shares of the construction company’s stock worth $128,917,000 after purchasing an additional 454,382 shares during the period. Caprock Group LLC acquired a new position in Owens Corning in the third quarter worth $1,742,000. Finally, Rakuten Investment Management Inc. acquired a new position in Owens Corning in the third quarter worth $8,135,000. Institutional investors own 88.40% of the company’s stock.

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.