Owens Corning Inc (NYSE:OC) Rating Increased to Hold at BidaskClub

Lloyd Doyle
September 13, 2017

Several brokerages recently issued reports on OC. Vertical Research upgraded Owens Corning from a "hold" rating to a "buy" rating in a research note on Thursday, October 27th.

Among 22 analysts covering Owens Corning (NYSE:OC), 14 have Buy rating, 0 Sell and 8 Hold. Of those analysts, 9 rate stock as a Strong Buy, 7 rate it as Hold, and just no analyst rates it as a Moderate Sell.

Price targets show what analysts believes a stock will be worth at the end of a certain time period. Hancock Holdings holds 0.03% of its portfolio in Owens Corning (NYSE:OC) for 17,246 shares.

Traders are a little more bearish on shares of the company of late if you consider the motion in short interest.

Company chares are trading at $76.81 which is well above $68.67, the 50 day moving average and which is significantly above the 200 day moving average of $64.00. Victory Capital Inc stated it has 0.4% in Owens Corning (NYSE:OC).

The most current P/E ratio is 22.07 and market cap is 8.54B.


As regular trading ended, Owens Corning (OC) stock brought in a -$2.32 drop to $74.48. Aqr Capital Management Limited Liability Corporation holds 0.01% or 227,453 shares in its portfolio. The company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.48 billion.

Now the return on equity is 10.10% and its debt to equity is 0.68. The firm's quarterly revenue was up 6.6% on a year-over-year basis. Analysts expect next quarter's EPS to be $0.99 with next year's EPS projected to be $4.86.

Owens Corning most recently reported earnings per share (EPS) of $1.2 for the June 2017 versus $1.29 in the same quarter previous year, representing -7% growth.

COPYRIGHT VIOLATION NOTICE: This piece of content was first reported by TrueBlueTribune and is owned by of TrueBlueTribune. If you are reading this piece on another website, it was stolen and reposted in violation of United States & global trademark and copyright law. The original version of this article can be viewed at https://weekherald.com/2017/09/12/owens-corning-inc-oc-upgraded-at-bidaskclub.html. The stock was sold at an average price of $74.12, for a total value of $198,567.48. Point72 Asia Hong Kong Ltd now owns 2,301 shares of the construction company's stock worth $141,000 after buying an additional 1,888 shares during the last quarter. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. It turned negative, as 35 investors sold OC shares while 95 reduced holdings. Also, VP Kelly Schmidt sold 1,462 shares of the business's stock in a transaction that occurred on Friday, August 25th. Market Capitalization if basically the market value of the company's shares outstanding. The disclosure for this sale can be found here. As of quarter end Appaloosa Lp had sold a total of 111,514 shares trimming its holdings by 4.3%.

A number of large investors have recently bought and sold shares of the stock. Raymond James Trust N.A. now owns 7,114 shares of the construction company's stock valued at $476,000 after buying an additional 26 shares during the last quarter. Finally, First Bank & Trust raised its stake in shares of Owens Corning by 3.6% during the second quarter. Dimensional Fund Advisors LP owned approximately 2.96% of Owens Corning worth $173,131,000 as of its most recent SEC filing. Acrospire Investment Management LLC increased its stake in Owens Corning by 100.0% in the third quarter. Renaissance Technologies LLC now owns 1,169,800 shares of the construction company's stock worth $71,791,000 after purchasing an additional 488,500 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Owens Corning by 71.7% in the 1st quarter. IFP Advisors Inc raised its stake in shares of Owens Corning by 45.3% during the first quarter. 394,654 were accumulated by New York State Common Retirement Fund. Thomas White International Ltd invested in 425 shares or 0% of the stock.

Owens Corning is engaged in the business of composite and building materials systems, delivering a range of services and products.

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