USG Co. (NYSE:USG) Upgraded at Barclays PLC
USG Co. (NYSE:USG) was upgraded by equities researchers at Barclays PLC from an “underweight” rating to an “equal weight” rating in a research note issued to investors on Sunday, July 30th. The brokerage currently has a $26.00 price target on the construction company’s stock, down from their previous price target of $28.00. Barclays PLC’s price objective suggests a potential downside of 2.51% from the stock’s current price.
Other equities research analysts also recently issued reports about the stock. Jefferies Group LLC reaffirmed a “hold” rating on shares of USG in a research note on Wednesday, July 19th. CL King downgraded shares of USG from a “strong-buy” rating to a “neutral” rating in a research report on Monday, July 24th. BidaskClub downgraded shares of USG from a “hold” rating to a “sell” rating in a research report on Friday, June 9th. Instinet reissued a “neutral” rating and set a $33.00 price objective (up previously from $30.00) on shares of USG in a research report on Saturday, April 29th. Finally, Nomura began coverage on shares of USG in a report on Wednesday, April 12th. They set a “neutral” rating and a $33.00 target price for the company. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $31.00.
USG (NYSE USG) traded up 1.64% during midday trading on Friday, reaching $26.67. The company’s stock had a trading volume of 1,117,830 shares. The firm’s 50-day moving average price is $28.16 and its 200-day moving average price is $30.40. The stock has a market capitalization of $3.82 billion, a PE ratio of 8.56 and a beta of 1.08. USG has a 52 week low of $23.71 and a 52 week high of $34.67.
USG (NYSE:USG) last announced its earnings results on Wednesday, July 26th. The construction company reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.07. USG had a return on equity of 9.36% and a net margin of 5.67%. The company had revenue of $811 million for the quarter, compared to analyst estimates of $809.44 million. During the same quarter in the previous year, the company posted $0.46 earnings per share. USG’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts anticipate that USG will post $1.68 earnings per share for the current year.
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In other news, insider Jennifer F. Scanlon purchased 1,500 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were purchased at an average price of $29.39 per share, for a total transaction of $44,085.00. Following the transaction, the insider now owns 82,902 shares of the company’s stock, valued at $2,436,489.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Jeanette A. Press sold 3,121 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $28.55, for a total transaction of $89,104.55. Following the completion of the transaction, the vice president now owns 13,981 shares in the company, valued at approximately $399,157.55. The disclosure for this sale can be found here. Company insiders own 0.67% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its position in USG by 14,864.0% in the first quarter. BlackRock Inc. now owns 4,036,547 shares of the construction company’s stock worth $128,363,000 after buying an additional 4,009,572 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of USG by 953.1% in the first quarter. JPMorgan Chase & Co. now owns 1,986,738 shares of the construction company’s stock worth $63,179,000 after buying an additional 1,798,074 shares during the period. Bank of America Corp DE increased its position in shares of USG by 95.8% in the first quarter. Bank of America Corp DE now owns 3,579,696 shares of the construction company’s stock worth $113,834,000 after buying an additional 1,751,530 shares during the period. Fairfax Financial Holdings Ltd Can increased its position in shares of USG by 335.8% in the first quarter. Fairfax Financial Holdings Ltd Can now owns 1,530,522 shares of the construction company’s stock worth $48,671,000 after buying an additional 1,179,300 shares during the period. Finally, Macquarie Group Ltd. bought a new position in shares of USG during the fourth quarter worth $31,029,000. Institutional investors and hedge funds own 90.01% of the company’s stock.
USG Corporation, through its subsidiaries, is a manufacturer and distributor of building materials. The Company’s segments include Gypsum, Ceilings and USG Boral Building Products (UBBP). It produces a range of products for use in new residential, new nonresidential, and residential and nonresidential repair and remodel construction, as well as products used in certain industrial processes.
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