Owens Corning (NYSE:OC) Price Target Cut to $37.00 by Analysts at Deutsche Bank

Owens Corning (NYSE:OC) had its price target lowered by Deutsche Bank from $75.00 to $37.00 in a research note published on Wednesday morning, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the construction company’s stock.

A number of other equities analysts have also commented on the stock. Citigroup started coverage on shares of Owens Corning in a research report on Tuesday, December 17th. They set a neutral rating and a $71.00 price target on the stock. ValuEngine raised shares of Owens Corning from a strong sell rating to a sell rating in a research report on Wednesday, March 18th. Berenberg Bank started coverage on shares of Owens Corning in a research report on Tuesday, January 14th. They set a hold rating and a $68.00 price target on the stock. Longbow Research raised their price target on shares of Owens Corning from $66.00 to $79.00 and gave the stock a buy rating in a research report on Tuesday, November 26th. Finally, Goldman Sachs Group started coverage on shares of Owens Corning in a research report on Friday, December 6th. They set a buy rating and a $80.00 price target on the stock. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $66.28.

Shares of OC traded up $2.88 during trading hours on Wednesday, hitting $40.90. The company had a trading volume of 1,744,852 shares, compared to its average volume of 1,608,259. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 0.80 and a beta of 1.33. The business has a fifty day moving average of $52.20 and a 200-day moving average of $60.77. Owens Corning has a 12 month low of $28.56 and a 12 month high of $68.72. The company has a quick ratio of 0.77, a current ratio of 1.55 and a debt-to-equity ratio of 0.67.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, February 19th. The construction company reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.02. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.69 billion. Owens Corning had a net margin of 5.66% and a return on equity of 11.30%. The company’s revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.38 earnings per share. On average, equities analysts expect that Owens Corning will post 4.92 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Friday, March 6th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, March 5th. Owens Corning’s dividend payout ratio is currently 21.15%.

In other news, CFO Prithvi Gandhi bought 5,000 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were purchased at an average cost of $46.90 per share, with a total value of $234,500.00. Following the acquisition, the chief financial officer now directly owns 51,814 shares in the company, valued at $2,430,076.60. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Squar Milner Financial Services LLC boosted its stake in shares of Owens Corning by 172.6% in the 4th quarter. Squar Milner Financial Services LLC now owns 398 shares of the construction company’s stock valued at $25,000 after purchasing an additional 252 shares in the last quarter. Huntington National Bank boosted its stake in shares of Owens Corning by 1,056.4% in the 4th quarter. Huntington National Bank now owns 451 shares of the construction company’s stock valued at $29,000 after purchasing an additional 412 shares in the last quarter. Orion Portfolio Solutions LLC acquired a new stake in shares of Owens Corning in the 4th quarter valued at approximately $30,000. Covington Capital Management acquired a new stake in shares of Owens Corning in the 3rd quarter valued at approximately $52,000. Finally, Penserra Capital Management LLC boosted its stake in shares of Owens Corning by 25.0% in the 3rd quarter. Penserra Capital Management LLC now owns 980 shares of the construction company’s stock valued at $61,000 after purchasing an additional 196 shares in the last quarter. Institutional investors own 97.00% of the company’s stock.

Owens Corning Company Profile

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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Analyst Recommendations for Owens Corning (NYSE:OC)

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