Owens Corning (NYSE:OC) Stock Rating Upgraded by StockNews.com

Owens Corning (NYSE:OC - Get Free Report) was upgraded by analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a research report issued on Friday.

A number of other equities research analysts have also weighed in on OC. Argus lifted their price objective on shares of Owens Corning from $120.00 to $155.00 and gave the company a "buy" rating in a report on Tuesday. Jefferies Financial Group boosted their price target on Owens Corning from $142.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, July 13th. Citigroup raised their price objective on Owens Corning from $132.00 to $134.00 and gave the stock a "neutral" rating in a report on Monday, July 24th. Barclays upped their target price on Owens Corning from $161.00 to $185.00 and gave the stock an "overweight" rating in a report on Thursday, July 27th. Finally, Benchmark lowered shares of Owens Corning from a "buy" rating to a "hold" rating in a research note on Thursday, July 20th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $140.92.

Get Our Latest Analysis on Owens Corning

Shares of NYSE OC opened at $140.27 on Friday. Owens Corning has a 1 year low of $74.22 and a 1 year high of $143.67. The firm has a 50-day simple moving average of $126.57 and a two-hundred day simple moving average of $108.25. The company has a market cap of $12.60 billion, a P/E ratio of 9.94 and a beta of 1.48. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.07 and a quick ratio of 1.37.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The construction company reported $4.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.25 by $0.97. Owens Corning had a return on equity of 25.59% and a net margin of 13.62%. The company had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. During the same quarter in the previous year, the business earned $3.83 EPS. Owens Corning's revenue was down 1.5% compared to the same quarter last year. Research analysts anticipate that Owens Corning will post 12.72 earnings per share for the current year.

In other news, insider Gunner Smith sold 6,900 shares of the firm's stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $115.01, for a total transaction of $793,569.00. Following the sale, the insider now directly owns 31,153 shares in the company, valued at approximately $3,582,906.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Daniel T. Smith sold 3,670 shares of the firm's stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $106.11, for a total value of $389,423.70. Following the transaction, the executive vice president now directly owns 46,811 shares of the company's stock, valued at approximately $4,967,115.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gunner Smith sold 6,900 shares of Owens Corning stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $115.01, for a total value of $793,569.00. Following the completion of the sale, the insider now owns 31,153 shares in the company, valued at $3,582,906.53. The disclosure for this sale can be found here. Company insiders own 0.89% of the company's stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Riverwater Partners LLC grew its holdings in shares of Owens Corning by 2.6% in the second quarter. Riverwater Partners LLC now owns 2,872 shares of the construction company's stock valued at $375,000 after purchasing an additional 74 shares during the period. Lindbrook Capital LLC raised its position in shares of Owens Corning by 19.5% during the 2nd quarter. Lindbrook Capital LLC now owns 526 shares of the construction company's stock valued at $69,000 after buying an additional 86 shares during the period. Prospera Financial Services Inc lifted its holdings in Owens Corning by 3.2% in the first quarter. Prospera Financial Services Inc now owns 3,198 shares of the construction company's stock valued at $306,000 after acquiring an additional 100 shares during the last quarter. Simplicity Solutions LLC grew its position in Owens Corning by 4.7% in the second quarter. Simplicity Solutions LLC now owns 2,407 shares of the construction company's stock worth $314,000 after acquiring an additional 109 shares during the period. Finally, Coldstream Capital Management Inc. increased its stake in Owens Corning by 2.2% during the second quarter. Coldstream Capital Management Inc. now owns 5,323 shares of the construction company's stock worth $695,000 after acquiring an additional 113 shares during the last quarter. 93.43% of the stock is owned by hedge funds and other institutional investors.

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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