UBS Group Forecasts Strong Price Appreciation for Owens Corning (NYSE:OC) Stock

by · The Cerbat Gem

Owens Corning (NYSE:OC – Get Free Report) had its target price increased by research analysts at UBS Group from $197.00 to $218.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. UBS Group’s target price would indicate a potential upside of 14.47% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada upped their price target on Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Barclays lowered their price objective on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a research report on Friday, July 12th. Evercore ISI increased their price objective on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday. Finally, Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $192.62.

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Owens Corning Price Performance

OC stock opened at $190.44 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.79. The business has a 50 day simple moving average of $175.83 and a 200-day simple moving average of $173.64. The firm has a market capitalization of $16.56 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 2.27 and a beta of 1.41. Owens Corning has a 1 year low of $121.08 and a 1 year high of $193.93.

Owens Corning (NYSE:OC – Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.01 by $0.37. The business had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business’s revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the business earned $4.15 earnings per share. Equities research analysts anticipate that Owens Corning will post 15.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the transaction, the insider now directly owns 57,079 shares of the company’s stock, valued at $10,074,443.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the transaction, the insider now directly owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. ST Germain D J Co. Inc. boosted its position in shares of Owens Corning by 794.1% in the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after purchasing an additional 135 shares during the period. ORG Partners LLC acquired a new stake in shares of Owens Corning in the 1st quarter valued at about $31,000. Innealta Capital LLC acquired a new stake in shares of Owens Corning in the 2nd quarter valued at about $32,000. Tobam boosted its position in shares of Owens Corning by 115.7% in the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after purchasing an additional 103 shares during the period. Finally, Quarry LP boosted its position in shares of Owens Corning by 165.5% in the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after purchasing an additional 144 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

About Owens Corning

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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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