Owens Corning (NYSE:OC) Earns Hold (C) Rating from Weiss Ratings

Key Points

• Owens Corning's stock rating was reaffirmed as "hold (C)" by Weiss Ratings, reflecting a consensus among analysts that includes ten Buy ratings, seven Holds, and one Sell rating.
• Royal Bank of Canada lowered its price target for Owens Corning from $184.00 to $180.00, while Wells Fargo increased its target from $170.00 to $175.00, illustrating varying outlooks on the stock's performance.
• Owens Corning reported $4.21 earnings per share for the last quarter, exceeding expectations and signifying a year-over-year revenue growth of 10% compared to the previous year.

Owens Corning (NYSE:OC - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by equities researchers at Weiss Ratings in a report issued on Saturday,Weiss Ratings reports.

Several other equities analysts have also issued reports on OC. Royal Bank Of Canada decreased their price objective on Owens Corning from $184.00 to $180.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Evercore ISI reduced their target price on Owens Corning from $169.00 to $153.00 and set an "in-line" rating on the stock in a report on Tuesday, October 7th. Barclays raised their price objective on Owens Corning from $167.00 to $173.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Wells Fargo & Company boosted their target price on Owens Corning from $170.00 to $175.00 and gave the company an "overweight" rating in a research note on Thursday, September 11th. Finally, Zacks Research cut Owens Corning from a "hold" rating to a "strong sell" rating in a research report on Wednesday, October 15th. Ten investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Owens Corning presently has a consensus rating of "Moderate Buy" and an average target price of $178.31.

Owens Corning Trading Down 0.6%

Shares of OC stock opened at $127.87 on Friday. The company has a 50-day moving average of $142.69 and a two-hundred day moving average of $141.19. The firm has a market cap of $10.69 billion, a PE ratio of 33.21, a price-to-earnings-growth ratio of 9.33 and a beta of 1.32. Owens Corning has a 1-year low of $123.23 and a 1-year high of $214.53. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.52 and a quick ratio of 0.95.

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

Institutional Trading of Owens Corning

Several large investors have recently modified their holdings of OC. Norges Bank bought a new stake in shares of Owens Corning during the second quarter worth about $163,719,000. Vanguard Group Inc. raised its holdings in shares of Owens Corning by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 9,815,685 shares of the construction company's stock valued at $1,401,876,000 after buying an additional 1,053,855 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Owens Corning by 67.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,380,123 shares of the construction company's stock valued at $339,930,000 after purchasing an additional 957,295 shares during the period. Nuveen LLC bought a new position in shares of Owens Corning in the first quarter worth about $91,698,000. Finally, First Trust Advisors LP boosted its stake in shares of Owens Corning by 164.6% in the second quarter. First Trust Advisors LP now owns 920,726 shares of the construction company's stock worth $126,618,000 after acquiring an additional 572,770 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.

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