Owens Corning (NYSE:OC) PT Raised to $70.00 at Deutsche Bank
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.
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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