Economy

Owens Corning Inc (OC) Stock Rating Lowered by Instinet

Owens Corning Inc (OC) Stock Rating Lowered by Instinet”

FBR & Co increased their target price on shares of Owens Corning from $63.00 to $70.00 and gave the stock a "mkt perform" rating in a report on Thursday, July 27th. Of those insider trades, 13,221 shares of Owens Corning were purchased and 92,456 shares were sold.

06/22/2017 - Credit Suisse began new coverage on Owens Corning Inc giving the company a "outperform" rating.

On August 31 the stock rating was upgraded to "Outperform" from "Market Perform" by Wells Fargo. Jefferies maintained it with "Buy" rating and $7700 target in Wednesday, July 19 report.

Owens Corning (OC) closed its previous trading session at $76.8 with the gain of 2.13%. Shares saw a steep increase in trading volume of 102.55% over the normal average daily volume.

The market capitalization of Owens Corning is at $8.57 Billion.

Analysts on average have given a price target of $74.6 to Owens Corning (OC) stock.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, July 26th. In the latest earnings report the EPS was $3.48 and is expected to be $4.28 for the current year with 111,193,000 shares presently outstanding. The high and low revenue estimates for the current quarter are $1.66 Billion and $1.58 Billion, respectively. Hodges Management reported 0.09% in Owens Corning (NYSE:OC). The Greenhaven Associates Inc holds 2.76M shares with $142.17M value, down from 3.23 million last quarter. Comparatively, OC posted earnings of $1.13 per share in the same quarter, a year earlier. Analysts forecast that Owens Corning will post $4.28 EPS for the current fiscal year.

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According to the Recommendation Trends of the stock polled by Finviz, the company has a consensus recommendation of 2.1 out of the scale from 1 to 5 where 1 stands for Buy and 5 means Sell. VP Organization & Admin Daniel T. Smith let go of 41,425 shares at an average price of $70.89 on Monday the 28th. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James J. Mcmonagle sold 2,000 shares of the firm's stock in a transaction on Thursday, June 15th. Arnaud Genis, President, Composites sold $424,500 worth of shares at an average price of $70.75 on Monday the 28th. Following the sale, the director now owns 50,906 shares in the company, valued at approximately $3,288,527.60. The disclosure for this sale can be found here.

Analysts look for public financial statements, listen in on conference calls and talk to managers and customers of a company in order to reach an opinion and communicate the value of a stock. "Ultimately, through all this investigation into the company's performance the analyst decides if their stock is a "buy", sell" or hold".

Several research firms have weighed in on OC. Janney Montgomery Scott LLC raised its position in Owens Corning by 77.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 10,356 shares of the construction company's stock worth $636,000 after purchasing an additional 4,528 shares during the period. 1,088,328 shares of the company were exchanged. The total number of shares traded in the last 12 months is 709,243. Comerica Bank now owns 6,865 shares of the construction company's stock worth $417,000 after acquiring an additional 1,426 shares during the last quarter. World Asset Management Inc grew its holdings in Owens Corning by 1.1% in the 1st quarter. Moreover, Capital Management Associates Ny has 0.98% invested in the company for 15,000 shares. UBS Asset Management Americas Inc. boosted its position in Owens Corning by 15.4% in the third quarter. The value of the investment in (OC) increased from $2,961,000 to $2,783,000,000 increasing 93,888.5% quarter to quarter. It helps investors in determining whether buying, selling or holding on to a stock would be beneficial for them.

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



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