Jefferies Financial Group Initiates Coverage on Owens Corning (NYSE:OC)

Equities researchers at Jefferies Financial Group initiated coverage on shares of Owens Corning (NYSE:OCGet Free Report) in a note issued to investors on Wednesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $215.00 price target on the construction company’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 21.74% from the stock’s previous close.

OC has been the subject of several other research reports. Evercore ISI raised their price objective on shares of Owens Corning from $154.00 to $172.00 and gave the stock an “in-line” rating in a research report on Thursday, April 25th. Citigroup upped their target price on Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Loop Capital upped their price objective on shares of Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Royal Bank of Canada lifted their price objective on shares of Owens Corning from $192.00 to $201.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Barclays lowered Owens Corning from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $170.00 to $160.00 in a report on Monday, February 12th. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $172.07.

Get Our Latest Analysis on Owens Corning

Owens Corning Trading Down 0.5 %

Shares of OC stock opened at $176.60 on Wednesday. The stock has a market cap of $15.30 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 5.22 and a beta of 1.45. The stock has a 50-day moving average of $169.16 and a 200-day moving average of $153.34. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.50. Owens Corning has a 1-year low of $105.56 and a 1-year high of $181.49.

Owens Corning (NYSE:OCGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.55. The business had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.77 earnings per share. On average, equities research analysts forecast that Owens Corning will post 15.76 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Monaco Nicolas Del sold 3,423 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $176.47, for a total transaction of $604,056.81. Following the completion of the transaction, the insider now owns 11,381 shares of the company’s stock, valued at $2,008,405.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Owens Corning news, insider Monaco Nicolas Del sold 3,423 shares of Owens Corning stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $176.47, for a total transaction of $604,056.81. Following the completion of the sale, the insider now owns 11,381 shares of the company’s stock, valued at $2,008,405.07. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Paula Russell sold 3,765 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value of $609,930.00. Following the transaction, the executive vice president now owns 20,419 shares in the company, valued at $3,307,878. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Owens Corning

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. MV Capital Management Inc. raised its stake in shares of Owens Corning by 112.9% during the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after acquiring an additional 79 shares during the last quarter. NBC Securities Inc. purchased a new stake in Owens Corning in the 1st quarter worth approximately $26,000. Riverview Trust Co bought a new stake in shares of Owens Corning in the 1st quarter worth approximately $28,000. Contravisory Investment Management Inc. purchased a new position in shares of Owens Corning during the fourth quarter valued at approximately $27,000. Finally, Bruce G. Allen Investments LLC bought a new position in shares of Owens Corning during the fourth quarter valued at approximately $27,000. Institutional investors own 88.40% of the company’s stock.

Owens Corning Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Owens Corning (NYSE:OC)

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