Owens Corning (NYSE:OC) Raised to Overweight at Wells Fargo & Company

Owens Corning (NYSE:OC) was upgraded by investment analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage presently has a $225.00 price objective on the construction company’s stock, up from their previous price objective of $195.00. Wells Fargo & Company‘s price objective indicates a potential upside of 28.98% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $192.00 to $245.00 in a research note on Wednesday, December 11th. Royal Bank of Canada raised their target price on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Evercore ISI lifted their target price on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Finally, The Goldman Sachs Group upped their price objective on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $200.83.

Owens Corning Trading Down 4.8 %

NYSE:OC opened at $174.44 on Tuesday. The stock has a market cap of $14.96 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 2.14 and a beta of 1.42. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The company’s 50 day moving average price is $191.28 and its 200-day moving average price is $178.02. Owens Corning has a 52 week low of $138.70 and a 52 week high of $214.53.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. The business had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the company earned $4.15 EPS. On average, equities research analysts forecast that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Insider Activity at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the completion of the transaction, the insider now directly owns 18,866 shares in the company, valued at $3,606,990.54. This represents a 48.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Owens Corning

Large investors have recently made changes to their positions in the company. Retirement Guys Formula LLC lifted its stake in Owens Corning by 3.1% in the third quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock worth $342,000 after purchasing an additional 58 shares during the last quarter. PFG Investments LLC boosted its holdings in Owens Corning by 3.9% during the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock valued at $323,000 after acquiring an additional 68 shares during the period. Tobam grew its position in Owens Corning by 38.0% in the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after acquiring an additional 73 shares during the last quarter. First Bank & Trust grew its position in Owens Corning by 2.0% in the 3rd quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock valued at $646,000 after acquiring an additional 73 shares during the last quarter. Finally, KMG Fiduciary Partners LLC increased its stake in Owens Corning by 1.5% in the third quarter. KMG Fiduciary Partners LLC now owns 5,432 shares of the construction company’s stock worth $959,000 after purchasing an additional 80 shares during the period. 88.40% of the stock is owned by institutional investors.

About Owens Corning

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.