Owens Corning’s (OC) Neutral Rating Reaffirmed at Nomura

Owens Corning Inc (NYSE:OC)‘s stock had its “neutral” rating reissued by analysts at Nomura in a research note issued to investors on Monday.

OC has been the subject of several other research reports. Wells Fargo & Company raised shares of Owens Corning from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $68.00 to $83.00 in a research note on Wednesday, August 30th. MKM Partners raised shares of Owens Corning from a “sell” rating to a “neutral” rating and upped their price objective for the company from $47.00 to $62.00 in a research note on Thursday, July 27th. FBR & Co upped their price objective on shares of Owens Corning from $63.00 to $70.00 and gave the company a “mkt perform” rating in a research note on Thursday, July 27th. BidaskClub raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Finally, Barclays PLC upped their price objective on shares of Owens Corning from $64.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 28th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $71.15.

Shares of Owens Corning (OC) opened at 76.80 on Monday. The company’s 50-day moving average is $69.01 and its 200 day moving average is $64.09. The firm has a market capitalization of $8.54 billion, a PE ratio of 22.06 and a beta of 1.04. Owens Corning has a 52-week low of $46.45 and a 52-week high of $76.84.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, July 26th. The construction company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.12. Owens Corning had a net margin of 6.61% and a return on equity of 11.12%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the company posted $1.29 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities analysts expect that Owens Corning will post $4.28 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Owens Corning’s (OC) Neutral Rating Reaffirmed at Nomura” was published by Markets Daily and is the property of of Markets Daily. If you are viewing this piece of content on another domain, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The original version of this piece of content can be accessed at https://www.themarketsdaily.com/2017/09/11/owens-cornings-oc-neutral-rating-reaffirmed-at-nomura.html.

In other Owens Corning news, insider Julian Francis sold 2,679 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $74.12, for a total value of $198,567.48. Following the completion of the transaction, the insider now owns 25,643 shares in the company, valued at approximately $1,900,659.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Kelly Schmidt sold 1,462 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $70.35, for a total value of $102,851.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,710 shares of company stock valued at $6,316,765. 1.80% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Owens Corning by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 10,562,420 shares of the construction company’s stock worth $706,837,000 after acquiring an additional 190,866 shares during the period. BlackRock Inc. boosted its holdings in Owens Corning by 4,010.8% in the 1st quarter. BlackRock Inc. now owns 6,496,203 shares of the construction company’s stock worth $398,669,000 after acquiring an additional 6,338,177 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Owens Corning by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,666,185 shares of the construction company’s stock worth $245,337,000 after acquiring an additional 27,809 shares during the period. Victory Capital Management Inc. boosted its holdings in Owens Corning by 7.9% in the 1st quarter. Victory Capital Management Inc. now owns 3,297,541 shares of the construction company’s stock worth $202,370,000 after acquiring an additional 240,258 shares during the period. Finally, State Street Corp boosted its holdings in Owens Corning by 0.4% in the 1st quarter. State Street Corp now owns 2,305,764 shares of the construction company’s stock worth $141,507,000 after acquiring an additional 8,490 shares during the period. Hedge funds and other institutional investors own 96.78% of the company’s stock.

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)

Receive News & Ratings for Owens Corning Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply