Jefferies Financial Group Issues Pessimistic Forecast for Owens Corning (NYSE:OC) Stock Price

Key Points

• Jefferies Financial Group has reduced its target price for Owens Corning stock from $185.00 to $180.00 while maintaining a "buy" rating, indicating a potential upside of 34.54% from the company's previous close.
• Wells Fargo recently increased their price objective for Owens Corning from $170.00 to $175.00, reflecting a positive outlook despite Jefferies' downgrade.
• Owens Corning posted a quarterly EPS of $4.21, surpassing the consensus estimate of $3.80, with revenues growing by 10% year-over-year to $2.75 billion.

Owens Corning (NYSE:OC - Get Free Report) had its target price reduced by Jefferies Financial Group from $185.00 to $180.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the construction company's stock. Jefferies Financial Group's target price indicates a potential upside of 34.54% from the company's previous close.

Several other brokerages also recently commented on OC. Wells Fargo & Company boosted their price objective on shares of Owens Corning from $170.00 to $175.00 and gave the company an "overweight" rating in a research report on Thursday, September 11th. Evercore ISI set a $153.00 price objective on shares of Owens Corning in a research report on Tuesday. UBS Group lowered their price objective on shares of Owens Corning from $218.00 to $210.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Royal Bank Of Canada decreased their target price on shares of Owens Corning from $184.00 to $180.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Owens Corning in a research note on Saturday, September 27th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Owens Corning has a consensus rating of "Moderate Buy" and an average target price of $181.92.

Owens Corning Price Performance

OC traded down $2.96 during trading on Tuesday, hitting $133.79. 308,283 shares of the stock traded hands, compared to its average volume of 936,393. Owens Corning has a twelve month low of $123.40 and a twelve month high of $214.53. The company has a market cap of $11.19 billion, a price-to-earnings ratio of 34.82, a PEG ratio of 9.97 and a beta of 1.32. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.52 and a quick ratio of 0.95. The business has a 50 day moving average price of $147.26 and a 200 day moving average price of $142.37.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The construction company reported $4.21 EPS for the quarter, beating the consensus estimate of $3.80 by $0.41. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the previous year, the business earned $4.64 earnings per share. The company's revenue was up 10.0% on a year-over-year basis. Equities research analysts forecast that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Institutional Trading of Owens Corning

Several institutional investors have recently modified their holdings of OC. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Owens Corning in the second quarter worth $26,000. Bangor Savings Bank bought a new stake in shares of Owens Corning in the second quarter worth $28,000. Rexford Capital Inc. bought a new stake in shares of Owens Corning in the second quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Owens Corning during the second quarter valued at $30,000. Finally, Vermillion & White Wealth Management Group LLC grew its holdings in Owens Corning by 149.4% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 222 shares of the construction company's stock worth $31,000 after acquiring an additional 133 shares during the period. Institutional investors own 88.40% of the company's stock.

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.

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