Owens Corning (NYSE:OC) – Investment analysts at Seaport Global Securities decreased their Q2 2019 EPS estimates for Owens Corning in a research note issued to investors on Thursday, April 25th, according to Zacks Investment Research. Seaport Global Securities analyst R. Garner now expects that the construction company will post earnings per share of $1.12 for the quarter, down from their previous estimate of $1.26. Seaport Global Securities currently has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for Owens Corning’s Q3 2019 earnings at $1.42 EPS and Q4 2019 earnings at $1.36 EPS.
A number of other research analysts also recently weighed in on OC. Zacks Investment Research downgraded Owens Corning from a “hold” rating to a “sell” rating in a research note on Monday, January 28th. Buckingham Research started coverage on Owens Corning in a research note on Friday, February 1st. They set a “neutral” rating and a $54.00 price target on the stock. Barclays set a $58.00 price target on Owens Corning and gave the stock a “buy” rating in a research note on Tuesday, February 5th. TheStreet raised Owens Corning from a “c+” rating to a “b-” rating in a research note on Thursday, February 14th. Finally, Zelman & Associates downgraded Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 26th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $63.66.
OC stock traded up $0.08 during trading on Friday, reaching $50.30. 561,611 shares of the stock were exchanged, compared to its average volume of 1,672,696. Owens Corning has a twelve month low of $40.64 and a twelve month high of $67.84. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.96 and a current ratio of 1.83. The company has a market cap of $5.46 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21.
Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). Owens Corning had a return on equity of 12.10% and a net margin of 7.07%. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the company posted $0.80 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year.
Several hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. bought a new position in shares of Owens Corning in the first quarter valued at approximately $458,000. AlphaCrest Capital Management LLC bought a new position in shares of Owens Corning in the first quarter valued at approximately $324,000. Ontario Teachers Pension Plan Board grew its holdings in shares of Owens Corning by 280.3% in the first quarter. Ontario Teachers Pension Plan Board now owns 130,003 shares of the construction company’s stock valued at $6,126,000 after acquiring an additional 95,819 shares in the last quarter. Xact Kapitalforvaltning AB grew its holdings in shares of Owens Corning by 126.3% in the first quarter. Xact Kapitalforvaltning AB now owns 17,200 shares of the construction company’s stock valued at $810,000 after acquiring an additional 9,600 shares in the last quarter. Finally, NumerixS Investment Technologies Inc grew its holdings in shares of Owens Corning by 183.2% in the first quarter. NumerixS Investment Technologies Inc now owns 9,344 shares of the construction company’s stock valued at $436,000 after acquiring an additional 6,044 shares in the last quarter. 95.36% of the stock is owned by institutional investors.
In other news, insider Julian Francis sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $51.51, for a total value of $30,906.00. Following the completion of the transaction, the insider now directly owns 76,662 shares of the company’s stock, valued at $3,948,859.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Daniel T. Smith sold 18,681 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $50.75, for a total value of $948,060.75. Following the completion of the transaction, the vice president now directly owns 74,891 shares of the company’s stock, valued at $3,800,718.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,881 shares of company stock valued at $1,562,045. Company insiders own 1.70% 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.