Owens Corning (NYSE:OC) Price Target Cut to $215.00 by Analysts at Barclays

Owens Corning (NYSE:OC) had its price objective reduced by Barclays from $245.00 to $215.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the construction company’s stock.

Several other equities research analysts have also recently issued reports on the stock. StockNews.com cut shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday. Evercore ISI raised their price target on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Royal Bank of Canada dropped their price objective on shares of Owens Corning from $224.00 to $212.00 and set an “outperform” rating for the company in a research note on Tuesday. Loop Capital decreased their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Citigroup lowered their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $207.00.

Owens Corning Stock Down 3.2 %

OC opened at $153.92 on Wednesday. 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 twelve month low of $147.20 and a twelve month high of $214.53. The company has a market cap of $13.20 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 1.88 and a beta of 1.46. The company has a 50-day moving average price of $176.07 and a 200 day moving average price of $178.84.

Owens Corning (NYSE:OC) last announced its earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.21 earnings per share. Sell-side analysts expect that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be given a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.79%. Owens Corning’s payout ratio is 23.49%.

Insiders Place Their Bets

In other news, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the sale, the insider now directly owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the transaction, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Owens Corning

A number of institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in Owens Corning during the 3rd quarter valued at about $156,000. Forsta AP Fonden lifted its position in shares of Owens Corning by 18.6% during the third quarter. Forsta AP Fonden now owns 24,900 shares of the construction company’s stock worth $4,395,000 after purchasing an additional 3,900 shares in the last quarter. PFG Investments LLC boosted its stake in shares of Owens Corning by 3.9% in the third quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock valued at $323,000 after purchasing an additional 68 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Owens Corning by 3.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,793 shares of the construction company’s stock valued at $1,199,000 after purchasing an additional 211 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Owens Corning by 132.5% in the third quarter. Nisa Investment Advisors LLC now owns 11,893 shares of the construction company’s stock valued at $2,099,000 after purchasing an additional 6,778 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

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.