Owens Corning (NYSE:OC) Rating Increased to Outperform at Wolfe Research

Wolfe Research upgraded shares of Owens Corning (NYSE:OC) from a peer perform rating to an outperform rating in a report released on Friday morning, Marketbeat Ratings reports.

OC has been the topic of a number of other reports. Barclays decreased their price objective on Owens Corning from $179.00 to $167.00 and set an “overweight” rating on the stock in a research report on Thursday. Wells Fargo & Company decreased their price target on Owens Corning from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Thursday. UBS Group dropped their price objective on Owens Corning from $235.00 to $218.00 and set a “buy” rating for the company in a report on Thursday. Royal Bank of Canada reduced their target price on shares of Owens Corning from $199.00 to $184.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. dropped their price target on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Owens Corning has a consensus rating of “Moderate Buy” and an average target price of $188.55.

Owens Corning Stock Up 0.7 %

OC opened at $136.43 on Friday. The firm has a market cap of $11.60 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.88 and a beta of 1.44. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The firm’s 50-day simple moving average is $141.20 and its 200-day simple moving average is $168.00. Owens Corning has a twelve month low of $123.41 and a twelve month high of $214.53.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, May 7th. The construction company reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.15. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the prior year, the firm earned $3.40 earnings per share. The company’s quarterly revenue was up 25.4% compared to the same quarter last year. Equities research analysts anticipate that Owens Corning will post 15.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Owens Corning

Hedge funds have recently bought and sold shares of the company. Barclays PLC increased its stake in Owens Corning by 23.3% in the third quarter. Barclays PLC now owns 125,756 shares of the construction company’s stock valued at $22,197,000 after acquiring an additional 23,787 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Owens Corning by 1.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,893 shares of the construction company’s stock valued at $1,217,000 after purchasing an additional 100 shares in the last quarter. Accurate Wealth Management LLC increased its stake in shares of Owens Corning by 47.3% in the 4th quarter. Accurate Wealth Management LLC now owns 5,221 shares of the construction company’s stock valued at $875,000 after purchasing an additional 1,676 shares during the last quarter. Park Avenue Securities LLC raised its holdings in shares of Owens Corning by 31.6% during the 4th quarter. Park Avenue Securities LLC now owns 5,964 shares of the construction company’s stock worth $1,016,000 after buying an additional 1,431 shares in the last quarter. Finally, Carolina Wealth Advisors LLC lifted its position in shares of Owens Corning by 2.6% during the 4th quarter. Carolina Wealth Advisors LLC now owns 4,427 shares of the construction company’s stock worth $754,000 after buying an additional 113 shares during the last quarter. 88.40% of the stock is 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.