Owens Corning (NYSE:OC) had its price objective hoisted by equities researchers at Deutsche Bank from $60.00 to $70.00 in a report released on Thursday, The Fly reports. The firm currently has a “buy” rating on the construction company’s stock. Deutsche Bank’s price target would suggest a potential upside of 15.76% from the company’s current price.

Several other equities research analysts have also commented on OC. Royal Bank of Canada raised their price target on shares of Owens Corning from $56.00 to $60.00 and gave the company a “sector perform” rating in a research note on Thursday. Stifel Nicolaus raised their target price on Owens Corning from $37.00 to $48.00 and gave the company a “hold” rating in a research report on Thursday, April 30th. Goldman Sachs Group lowered Owens Corning from a “conviction-buy” rating to a “buy” rating in a research report on Tuesday, April 14th. Wells Fargo & Co raised their price target on Owens Corning from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. Finally, SunTrust Banks upped their price objective on shares of Owens Corning from $45.00 to $55.00 in a report on Wednesday, July 8th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the stock. Owens Corning has an average rating of “Hold” and an average price target of $62.05.

Shares of NYSE OC opened at $60.47 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.87 and a quick ratio of 0.89. The firm has a market capitalization of $6.61 billion, a PE ratio of -10.93, a P/E/G ratio of 4.54 and a beta of 1.53. Owens Corning has a 1-year low of $28.56 and a 1-year high of $68.72. The business’s fifty day moving average price is $56.74 and its two-hundred day moving average price is $51.88.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, July 29th. The construction company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.26 by $0.62. Owens Corning had a negative net margin of 8.79% and a positive return on equity of 11.35%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the firm earned $1.31 earnings per share. The company’s quarterly revenue was down 15.3% on a year-over-year basis. Equities research analysts expect that Owens Corning will post 3.2 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in OC. Botty Investors LLC acquired a new stake in shares of Owens Corning in the second quarter worth $28,000. Meeder Asset Management Inc. raised its position in Owens Corning by 278.5% during the first quarter. Meeder Asset Management Inc. now owns 1,658 shares of the construction company’s stock valued at $65,000 after buying an additional 1,220 shares during the period. CVA Family Office LLC purchased a new stake in Owens Corning in the 2nd quarter worth about $75,000. Cerebellum GP LLC purchased a new stake in Owens Corning in the 2nd quarter worth about $119,000. Finally, Parallel Advisors LLC boosted its position in Owens Corning by 40.3% during the 2nd quarter. Parallel Advisors LLC now owns 3,157 shares of the construction company’s stock worth $176,000 after acquiring an additional 907 shares during the period. Institutional investors own 95.05% of the company’s stock.

About Owens Corning

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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