Owens Corning (NYSE:OC) Price Target Raised to $182.00 at Argus

Owens Corning (NYSE:OC) had its price objective lifted by analysts at Argus from $175.00 to $182.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Argus’ price objective indicates a potential upside of 10.60% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Royal Bank of Canada lowered their price objective on shares of Owens Corning from $183.00 to $175.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Barclays lowered shares of Owens Corning from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $170.00 to $160.00 in a report on Monday, February 12th. Citigroup boosted their price objective on shares of Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Loop Capital boosted their price objective on shares of Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, Evercore ISI boosted their price objective on shares of Owens Corning from $154.00 to $172.00 and gave the stock an “in-line” rating in a report on Thursday. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $167.00.

Owens Corning Price Performance

Owens Corning stock traded down $0.67 during mid-day trading on Thursday, hitting $164.55. 171,832 shares of the company traded hands, compared to its average volume of 667,316. Owens Corning has a one year low of $98.02 and a one year high of $173.65. The stock has a market cap of $14.32 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 7.08 and a beta of 1.47. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.69. The stock has a fifty day moving average price of $158.41 and a 200-day moving average price of $145.80.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.55. Owens Corning had a net margin of 12.36% and a return on equity of 25.88%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the business posted $2.77 earnings per share. Owens Corning’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, equities analysts predict that Owens Corning will post 13.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Owens Corning news, CEO Brian Chambers sold 9,100 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $153.57, for a total value of $1,397,487.00. Following the completion of the transaction, the chief executive officer now directly owns 269,696 shares in the company, valued at approximately $41,417,214.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Owens Corning news, CEO Brian Chambers sold 9,100 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $153.57, for a total value of $1,397,487.00. Following the completion of the transaction, the chief executive officer now directly owns 269,696 shares in the company, valued at approximately $41,417,214.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gunner Smith sold 7,442 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $148.99, for a total transaction of $1,108,783.58. Following the completion of the transaction, the insider now owns 36,140 shares of the company’s stock, valued at $5,384,498.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,672 shares of company stock worth $3,325,799. 0.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. MV Capital Management Inc. increased its stake in shares of Owens Corning by 112.9% in the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after acquiring an additional 79 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Owens Corning in the 1st quarter worth about $26,000. Contravisory Investment Management Inc. bought a new position in shares of Owens Corning in the 4th quarter worth about $27,000. Bruce G. Allen Investments LLC purchased a new stake in Owens Corning during the 4th quarter valued at about $27,000. Finally, Riverview Trust Co purchased a new stake in Owens Corning during the 1st quarter valued at about $28,000. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Company Profile

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.