Owens Corning (NYSE:OC) Cut to Equal Weight at Barclays

Owens Corning (NYSE:OCGet Free Report) was downgraded by investment analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued on Monday, Marketbeat.com reports. They currently have a $160.00 price target on the construction company’s stock, down from their prior price target of $170.00. Barclays‘s target price would indicate a potential upside of 7.95% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft raised shares of Owens Corning from a “hold” rating to a “buy” rating and increased their price objective for the company from $130.00 to $180.00 in a report on Friday, December 8th. Wells Fargo & Company assumed coverage on shares of Owens Corning in a research note on Tuesday, October 17th. They issued an “equal weight” rating and a $143.00 price target on the stock. Royal Bank of Canada dropped their price objective on shares of Owens Corning from $168.00 to $155.00 and set an “outperform” rating for the company in a report on Thursday, October 26th. JPMorgan Chase & Co. lifted their target price on Owens Corning from $116.00 to $161.00 and gave the stock a “neutral” rating in a report on Thursday, December 14th. Finally, The Goldman Sachs Group increased their price target on Owens Corning from $130.00 to $147.00 and gave the company a “neutral” rating in a research note on Thursday, December 14th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $144.80.

Check Out Our Latest Analysis on OC

Owens Corning Trading Down 7.1 %

Shares of OC stock opened at $148.21 on Monday. The stock has a fifty day simple moving average of $148.92 and a two-hundred day simple moving average of $138.80. Owens Corning has a 52-week low of $88.86 and a 52-week high of $160.18. The firm has a market capitalization of $13.17 billion, a PE ratio of 11.42, a PEG ratio of 1.83 and a beta of 1.47. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.49 and a current ratio of 2.16.

Insider Activity

In related news, insider Gunner Smith sold 708 shares of the firm’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 sale, the insider now directly owns 39,994 shares of the company’s stock, valued at approximately $6,148,277.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Brian Chambers sold 9,100 shares of Owens Corning stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the completion of the sale, the chief executive officer now owns 269,696 shares of the company’s stock, valued at $41,417,214.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gunner Smith sold 708 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $153.73, for a total value of $108,840.84. Following the completion of the sale, the insider now owns 39,994 shares of the company’s stock, valued at approximately $6,148,277.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,465 shares of company stock valued at $1,607,085. 0.89% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Owens Corning

Institutional investors and hedge funds have recently bought and sold shares of the company. Financial Gravity Asset Management Inc. bought a new position in shares of Owens Corning during the 2nd quarter worth $911,000. Contravisory Investment Management Inc. bought a new position in Owens Corning during the 4th quarter worth about $27,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Owens Corning in the 4th quarter worth approximately $27,000. Financial Management Professionals Inc. bought a new position in shares of Owens Corning during the third quarter valued at approximately $29,000. Finally, First Capital Advisors Group LLC. purchased a new position in Owens Corning during the second quarter valued at approximately $31,000. 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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