Owens Corning's (OC) "Hold (C)" Rating Reiterated at Weiss Ratings

Key Points

• Owens Corning's stock rating has been reaffirmed as "hold (c)" by Weiss Ratings, indicating a cautious outlook from analysts.
• Recent price target adjustments include Jefferies lowering theirs from $185.00 to $180.00 while Barclays raised it from $167.00 to $173.00, reflecting varied sentiments among analysts.
• Owens Corning reported $4.21 earnings per share for the last quarter, exceeding estimates and showing a 10% year-over-year revenue increase.

Owens Corning (NYSE:OC - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by investment analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research firms have also commented on OC. Jefferies Financial Group lowered their price target on shares of Owens Corning from $185.00 to $180.00 and set a "buy" rating on the stock in a research report on Tuesday. Barclays raised their price target on shares of Owens Corning from $167.00 to $173.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. UBS Group lowered their price target on shares of Owens Corning from $218.00 to $210.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Wells Fargo & Company increased their price objective on shares of Owens Corning from $170.00 to $175.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. Finally, Royal Bank Of Canada reduced their price objective on shares of Owens Corning from $184.00 to $180.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Owens Corning has an average rating of "Moderate Buy" and an average target price of $178.31.

Owens Corning Stock Performance

Shares of OC traded down $1.70 during trading hours on Wednesday, hitting $132.14. The company had a trading volume of 112,592 shares, compared to its average volume of 939,305. The firm has a market cap of $11.05 billion, a price-to-earnings ratio of 34.32, a PEG ratio of 9.58 and a beta of 1.32. The business has a fifty day moving average of $146.90 and a 200-day moving average of $142.24. Owens Corning has a 12 month low of $123.40 and a 12 month high of $214.53. The company has a quick ratio of 0.95, a current ratio of 1.52 and a debt-to-equity ratio of 0.98.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Owens Corning in the 2nd quarter valued at $26,000. Bangor Savings Bank acquired a new stake in Owens Corning in the 2nd quarter valued at $28,000. Rexford Capital Inc. acquired a new stake in Owens Corning in the 2nd quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Owens Corning in the 2nd quarter valued at $30,000. Finally, Vermillion & White Wealth Management Group LLC grew its position in Owens Corning by 149.4% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 222 shares of the construction company's stock valued at $31,000 after purchasing an additional 133 shares during the period. Institutional investors own 88.40% of the company's stock.

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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