Owens Corning (NYSE:OC) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Owens Corning from a "strong sell" to a "hold," reducing downside pressure from that particular research firm.
• The company missed quarterly expectations (EPS $1.10 vs. $1.36 expected) with revenue down 16.8% year-over-year and a negative net margin of 5.17%, highlighting recent operational weakness.
• Analysts are mixed but broadly positive: MarketBeat shows an average rating of "Moderate Buy" with a consensus price target of $145.09, above the recent share price near $124.10, while individual targets range as high as $172.

Owens Corning (NYSE:OC - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. UBS Group boosted their price target 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. Evercore set a $130.00 price objective on shares of Owens Corning in a report on Friday. Citigroup reduced their price objective on shares of Owens Corning from $137.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, January 8th. Royal Bank Of Canada set a $143.00 price objective on shares of Owens Corning in a report on Friday, January 9th. Finally, Wells Fargo & Company boosted their price objective on shares of Owens Corning from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $145.09.

Owens Corning Trading Down 1.1%

Shares of OC stock opened at $124.10 on Monday. The company's 50-day moving average price is $114.68 and its 200-day moving average price is $117.15. The company has a current ratio of 1.26, a quick ratio of 0.70 and a debt-to-equity ratio of 1.20. The stock has a market cap of $9.98 billion, a price-to-earnings ratio of -19.39, a PEG ratio of 2.13 and a beta of 1.35. Owens Corning has a twelve month low of $97.53 and a twelve month high of $159.42.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The construction company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.26). The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. Owens Corning had a negative net margin of 5.17% and a positive return on equity of 21.93%. The company's revenue was down 16.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.22 EPS. As a group, equities analysts predict that Owens Corning will post 9.45 earnings per share for the current year.

Institutional Trading of Owens Corning

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Pitcairn Co. increased its stake in Owens Corning by 4.6% during the second quarter. Pitcairn Co. now owns 1,821 shares of the construction company's stock worth $250,000 after purchasing an additional 80 shares during the period. First Pacific Financial increased its stake in Owens Corning by 2.3% during the first quarter. First Pacific Financial now owns 3,749 shares of the construction company's stock worth $406,000 after purchasing an additional 85 shares during the period. Archer Investment Corp increased its stake in Owens Corning by 13.3% during the third quarter. Archer Investment Corp now owns 748 shares of the construction company's stock worth $106,000 after purchasing an additional 88 shares during the period. Viawealth LLC increased its stake in Owens Corning by 3.6% during the fourth quarter. Viawealth LLC now owns 2,563 shares of the construction company's stock worth $287,000 after purchasing an additional 88 shares during the period. Finally, Fifth Third Wealth Advisors LLC increased its stake in Owens Corning by 2.9% during the first quarter. Fifth Third Wealth Advisors LLC now owns 3,170 shares of the construction company's stock worth $343,000 after purchasing an additional 90 shares during the period. 88.40% of the stock is currently 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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