Owens Corning (NYSE:OC) Price Target Lowered to $135.00 at Barclays

Key Points

• Barclays cut its price target on Owens Corning from $138 to $135 but kept an "overweight" rating, implying about a 20.23% upside from the stock's prior close.
• Analysts are mixed: the consensus is a Moderate Buy with an average price target of $148.45, while individual targets range from a sell (Weiss) to UBS's $172 buy.
• Owens Corning recently missed quarterly expectations (EPS $1.10 vs. $1.36) with revenue down 16.8% year-over-year, and the stock trades near $112 amid a negative net margin of -5.17%.

Owens Corning (NYSE:OC - Get Free Report) had its price target reduced by stock analysts at Barclays from $138.00 to $135.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the construction company's stock. Barclays's price target suggests a potential upside of 20.23% from the stock's previous close.

Other equities research analysts have also issued reports about the stock. Royal Bank Of Canada set a $143.00 target price on shares of Owens Corning in a research report on Friday, January 9th. UBS Group lifted their target price on shares of Owens Corning from $160.00 to $172.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Owens Corning in a research report on Friday, March 27th. Wells Fargo & Company lifted their target price on shares of Owens Corning from $145.00 to $155.00 and gave the company an "overweight" rating in a research report on Wednesday, February 11th. Finally, Argus upgraded shares of Owens Corning to a "strong-buy" rating in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $148.45.

Owens Corning Price Performance

Shares of OC stock traded up $7.16 during trading hours on Wednesday, reaching $112.28. The stock had a trading volume of 512,882 shares, compared to its average volume of 1,441,217. The stock's fifty day simple moving average is $117.71 and its 200 day simple moving average is $119.06. The company has a current ratio of 1.26, a quick ratio of 0.70 and a debt-to-equity ratio of 1.20. Owens Corning has a 12 month low of $97.53 and a 12 month high of $159.42. The firm has a market capitalization of $9.03 billion, a PE ratio of -17.60, a PEG ratio of 1.71 and a beta of 1.35.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The construction company reported $1.10 EPS for the quarter, missing analysts' consensus estimates of $1.36 by ($0.26). Owens Corning had a negative net margin of 5.17% and a positive return on equity of 21.93%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter last year, the business posted $3.22 earnings per share. Owens Corning's revenue was down 16.8% compared to the same quarter last year. On average, equities research analysts predict that Owens Corning will post 15.49 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Groupama Asset Managment raised its stake in shares of Owens Corning by 1.8% during the fourth quarter. Groupama Asset Managment now owns 6,153 shares of the construction company's stock worth $689,000 after acquiring an additional 106 shares in the last quarter. River Road Asset Management LLC raised its stake in shares of Owens Corning by 3.0% during the fourth quarter. River Road Asset Management LLC now owns 348,116 shares of the construction company's stock worth $38,958,000 after acquiring an additional 10,193 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Owens Corning by 200.5% during the fourth quarter. Pacer Advisors Inc. now owns 381,887 shares of the construction company's stock worth $42,737,000 after acquiring an additional 254,793 shares in the last quarter. Kera Capital Partners Inc. increased its stake in shares of Owens Corning by 18.7% in the fourth quarter. Kera Capital Partners Inc. now owns 3,164 shares of the construction company's stock worth $379,000 after buying an additional 499 shares during the period. Finally, Virtu Financial LLC increased its stake in shares of Owens Corning by 18.4% in the fourth quarter. Virtu Financial LLC now owns 3,286 shares of the construction company's stock worth $368,000 after buying an additional 511 shares during the period. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Company Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company's core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.

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