Owens Corning (NYSE:OC) Downgraded by Barclays

Owens Corning (NYSE:OCGet Free Report) was downgraded by Barclays from an “overweight” rating to an “equal weight” rating in a report released on Monday, MarketBeat reports. They presently have a $160.00 price target on the construction company’s stock, down from their prior price target of $170.00. Barclays‘s price objective points to a potential upside of 7.95% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Truist Financial reduced their price target on shares of Owens Corning from $135.00 to $115.00 and set a “hold” rating on the stock in a research report on Thursday, October 26th. The Goldman Sachs Group increased their price target on shares of Owens Corning from $130.00 to $147.00 and gave the company a “neutral” rating in a research note on Thursday, December 14th. Wells Fargo & Company assumed coverage on Owens Corning in a research note on Tuesday, October 17th. They issued an “equal weight” rating and a $143.00 target price for the company. Royal Bank of Canada reduced their target price on shares of Owens Corning from $168.00 to $155.00 and set an “outperform” rating on the stock in a research note on Thursday, October 26th. Finally, StockNews.com upgraded shares of Owens Corning from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 26th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Owens Corning has a consensus rating of “Moderate Buy” and an average target price of $144.80.

View Our Latest Research Report on OC

Owens Corning Trading Down 7.1 %

OC stock opened at $148.21 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.16 and a quick ratio of 1.49. The stock has a market capitalization of $13.17 billion, a price-to-earnings ratio of 11.42, a P/E/G ratio of 1.83 and a beta of 1.47. The business has a fifty day moving average price of $148.92 and a 200 day moving average price of $138.80. Owens Corning has a fifty-two week low of $88.86 and a fifty-two week high of $160.18.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 708 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $153.73, for a total transaction of $108,840.84. Following the completion of the transaction, the insider now owns 39,994 shares of the company’s stock, valued at approximately $6,148,277.62. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Owens Corning news, CEO Brian Chambers sold 9,100 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $153.57, for a total value of $1,397,487.00. Following the completion of the transaction, the chief executive officer now directly owns 269,696 shares in the company, valued at $41,417,214.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gunner Smith sold 708 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $153.73, for a total value of $108,840.84. Following the sale, the insider now owns 39,994 shares in the company, valued at approximately $6,148,277.62. The disclosure for this sale can be found here. Insiders sold 10,465 shares of company stock valued at $1,607,085 over the last three months. Company insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

A number of institutional investors and hedge funds have recently modified their holdings of OC. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Owens Corning by 0.8% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,130 shares of the construction company’s stock valued at $1,205,000 after purchasing an additional 67 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of Owens Corning by 2.3% during the fourth quarter. Avantax Advisory Services Inc. now owns 3,082 shares of the construction company’s stock worth $457,000 after acquiring an additional 69 shares during the period. Bessemer Group Inc. grew its position in shares of Owens Corning by 24.6% in the second quarter. Bessemer Group Inc. now owns 380 shares of the construction company’s stock valued at $50,000 after purchasing an additional 75 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Owens Corning by 42.2% during the fourth quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock worth $36,000 after purchasing an additional 78 shares during the period. Finally, Caprock Group LLC boosted its stake in Owens Corning by 3.7% in the 4th quarter. Caprock Group LLC now owns 2,214 shares of the construction company’s stock valued at $328,000 after purchasing an additional 79 shares during the period. 90.22% of the stock is owned by institutional investors.

Owens Corning Company Profile

(Get Free Report)

Owens Corning engages in manufacture and sale of insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, Latin America, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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