Owens Corning (NYSE:OC) Raised to "Outperform" at Wolfe Research

Wolfe Research upgraded shares of Owens Corning (NYSE:OC - Free Report) from a peer perform rating to an outperform rating in a report released on Friday morning, Marketbeat.com reports.

Several other equities analysts have also recently commented on the stock. UBS Group dropped their target price on shares of Owens Corning from $235.00 to $218.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Wells Fargo & Company lowered their price objective on shares of Owens Corning from $155.00 to $150.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Owens Corning in a report on Tuesday, April 1st. They issued a "buy" rating and a $183.00 target price on the stock. Royal Bank of Canada decreased their target price 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. Finally, StockNews.com downgraded shares of Owens Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $188.55.

Owens Corning Stock Performance

Shares of OC traded down $0.61 during mid-day trading on Friday, hitting $142.64. 827,279 shares of the company's stock were exchanged, compared to its average volume of 823,115. 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 has a 52 week low of $123.41 and a 52 week high of $214.53. The stock's 50-day simple moving average is $141.09 and its 200-day simple moving average is $167.53. The firm has a market cap of $12.13 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 1.88 and a beta of 1.44.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The construction company reported $2.97 EPS for the quarter, topping analysts' consensus estimates of $2.82 by $0.15. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company's revenue was up 25.4% on a year-over-year basis. During the same quarter last year, the company earned $3.40 EPS. On average, equities research analysts expect that Owens Corning will post 15.49 EPS for the current year.

Institutional Investors Weigh In On Owens Corning

Institutional investors have recently modified their holdings of the company. FPC Investment Advisory Inc. acquired a new stake in shares of Owens Corning during the 4th quarter worth approximately $28,000. Venturi Wealth Management LLC boosted its stake in Owens Corning by 55.8% during the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock valued at $30,000 after purchasing an additional 63 shares during the last quarter. Global Trust Asset Management LLC bought a new stake in Owens Corning during the fourth quarter worth $31,000. Wilmington Savings Fund Society FSB raised its position in Owens Corning by 193.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock valued at $32,000 after buying an additional 122 shares during the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in Owens Corning in the 4th quarter valued at $34,000. 88.40% of the stock is owned by institutional investors.

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.