Owens Corning (OC) Now Covered by Analysts at Argus

Argus started coverage on shares of Owens Corning (NYSE:OC) in a research note issued to investors on Wednesday morning. The firm issued a buy rating and a $109.00 price objective on the construction company’s stock.

A number of other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Owens Corning from a buy rating to a hold rating in a research note on Wednesday. Royal Bank Of Canada upgraded shares of Owens Corning from an outperform rating to a top pick rating in a research note on Monday. SunTrust Banks upped their target price on shares of Owens Corning to $85.00 and gave the stock a hold rating in a research note on Tuesday, November 21st. Credit Suisse Group upped their target price on shares of Owens Corning from $90.00 to $95.00 and gave the stock an outperform rating in a research note on Friday, November 17th. Finally, Bank of America upped their target price on shares of Owens Corning from $84.00 to $97.00 and gave the stock a buy rating in a research note on Friday, November 17th. Nine equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $80.14.

Shares of Owens Corning (NYSE:OC) traded down $2.25 during mid-day trading on Wednesday, reaching $86.65. 1,546,300 shares of the company’s stock were exchanged, compared to its average volume of 1,060,353. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 0.99. The company has a market cap of $9,889.33, a P/E ratio of 22.11, a P/E/G ratio of 1.34 and a beta of 1.09. Owens Corning has a twelve month low of $50.77 and a twelve month high of $91.40.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, October 25th. The construction company reported $1.25 EPS for the quarter, missing the Zacks’ consensus estimate of $1.26 by ($0.01). The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.63 billion. Owens Corning had a return on equity of 11.40% and a net margin of 6.15%. Owens Corning’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 earnings per share. analysts expect that Owens Corning will post 4.33 earnings per share for the current fiscal year.

In other Owens Corning news, CFO Michael C. Mcmurray sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $76.52, for a total value of $1,071,280.00. Following the completion of the sale, the chief financial officer now directly owns 40,903 shares in the company, valued at $3,129,897.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael C. Mcmurray sold 18,000 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $90.78, for a total transaction of $1,634,040.00. Following the completion of the sale, the chief financial officer now owns 52,228 shares of the company’s stock, valued at $4,741,257.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 274,633 shares of company stock valued at $22,063,967. 1.80% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of OC. Creative Planning raised its holdings in shares of Owens Corning by 104.3% in the second quarter. Creative Planning now owns 2,043 shares of the construction company’s stock worth $137,000 after buying an additional 1,043 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Owens Corning by 16.7% in the second quarter. Janney Montgomery Scott LLC now owns 12,088 shares of the construction company’s stock worth $809,000 after buying an additional 1,732 shares during the last quarter. Ingalls & Snyder LLC raised its holdings in shares of Owens Corning by 7.1% in the second quarter. Ingalls & Snyder LLC now owns 4,550 shares of the construction company’s stock worth $304,000 after buying an additional 300 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Owens Corning by 18.1% in the second quarter. Canada Pension Plan Investment Board now owns 209,280 shares of the construction company’s stock worth $14,005,000 after buying an additional 32,000 shares during the last quarter. Finally, Forward Management LLC raised its holdings in shares of Owens Corning by 5.6% in the second quarter. Forward Management LLC now owns 6,705 shares of the construction company’s stock worth $449,000 after buying an additional 358 shares during the last quarter. 94.55% of the stock is owned by institutional investors and hedge funds.

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About Owens Corning

Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.

Analyst Recommendations for Owens Corning (NYSE:OC)

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