Brokerages Set Owens Corning (NYSE:OC) Price Target at $183.80

Owens Corning (NYSE:OC - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the twelve research firms that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $183.80.

Several research analysts have recently commented on the stock. UBS Group dropped their price target on shares of Owens Corning from $235.00 to $218.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Wall Street Zen downgraded Owens Corning from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Royal Bank of Canada decreased their price target 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, May 8th. Wells Fargo & Company increased their target price on Owens Corning from $150.00 to $160.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Owens Corning in a research report on Tuesday, April 1st. They issued a "buy" rating and a $183.00 price target on the stock.

Institutional Investors Weigh In On Owens Corning

A number of institutional investors and hedge funds have recently modified their holdings of OC. Stratos Wealth Partners LTD. increased its holdings in Owens Corning by 4.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company's stock valued at $221,000 after buying an additional 53 shares during the period. CoreCap Advisors LLC increased its holdings in Owens Corning by 3.3% in the 4th quarter. CoreCap Advisors LLC now owns 1,789 shares of the construction company's stock valued at $305,000 after buying an additional 57 shares during the period. Retirement Guys Formula LLC increased its holdings in Owens Corning by 3.1% in the 4th quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company's stock valued at $341,000 after buying an additional 60 shares during the period. IFP Advisors Inc increased its holdings in Owens Corning by 35.6% in the 4th quarter. IFP Advisors Inc now owns 236 shares of the construction company's stock valued at $40,000 after buying an additional 62 shares during the period. Finally, Parallel Advisors LLC increased its holdings in Owens Corning by 2.5% in the 4th quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company's stock valued at $439,000 after buying an additional 62 shares during the period. 88.40% of the stock is owned by institutional investors.

Owens Corning Stock Down 3.2%

Shares of OC traded down $4.50 during mid-day trading on Thursday, reaching $134.35. The company's stock had a trading volume of 943,619 shares, compared to its average volume of 857,181. The business has a fifty day moving average of $138.59 and a 200 day moving average of $158.35. The company has a market cap of $11.43 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 1.88 and a beta of 1.34. Owens Corning has a 1 year low of $123.41 and a 1 year high of $214.53. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC - Get Free Report) last released its earnings results on Wednesday, May 7th. The construction company reported $2.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.82 by $0.15. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the firm earned $3.40 EPS. The company's revenue was up 25.4% compared to the same quarter last year. As a group, analysts forecast that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning announced that its board has authorized a share buyback program on Wednesday, May 14th that allows the company to buyback 12,000,000 shares. This buyback authorization allows the construction company to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

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.