UBS Group Has Lowered Expectations for Owens Corning (NYSE:OC) Stock Price

Owens Corning (NYSE:OC) had its price target dropped by analysts at UBS Group from $235.00 to $218.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. UBS Group’s price target would suggest a potential upside of 59.79% from the company’s previous close.

A number of other research firms have also recently issued reports on OC. Loop Capital cut their price objective on Owens Corning from $203.00 to $180.00 and set a “buy” rating for the company in a report on Thursday. Royal Bank of Canada reduced their price target on shares of Owens Corning from $212.00 to $199.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. JPMorgan Chase & Co. cut their price objective on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Owens Corning in a research report on Tuesday, April 1st. They issued a “buy” rating and a $183.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Owens Corning has a consensus rating of “Moderate Buy” and a consensus target price of $188.55.

Owens Corning Trading Up 0.7 %

Shares of Owens Corning stock opened at $136.43 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. Owens Corning has a 1 year low of $123.41 and a 1 year high of $214.53. The firm has a market cap of $11.67 billion, a PE ratio of 11.61, a PEG ratio of 1.88 and a beta of 1.44. The company has a 50 day simple moving average of $141.20 and a two-hundred day simple moving average of $168.00.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, May 7th. The construction company reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.15. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm’s revenue was up 25.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.40 EPS. Analysts expect that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. FPC Investment Advisory Inc. bought a new stake in shares of Owens Corning in the 4th quarter worth approximately $28,000. Venturi Wealth Management LLC lifted its stake in Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after acquiring an additional 63 shares during the period. Global Trust Asset Management LLC bought a new stake in Owens Corning in the fourth quarter valued at $31,000. Wilmington Savings Fund Society FSB increased its position in Owens Corning by 193.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after purchasing an additional 122 shares during the period. Finally, Whipplewood Advisors LLC bought a new position in Owens Corning in the 4th quarter worth $34,000. Institutional investors own 88.40% of the company’s stock.

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.