Goldman Now Covering Owens Corning (NYSE:OC) With $75 Target

October 2, 2018 - By Michael Collier

Owens Corning (NYSE:OC) Logo

Investors sentiment decreased to 0.79 in Q2 2018. Its down 0.20, from 0.99 in 2018Q1. It dropped, as 70 investors sold Owens Corning shares while 131 reduced holdings. 53 funds opened positions while 105 raised stakes. 106.45 million shares or 9.24% more from 97.45 million shares in 2018Q1 were reported.

Daiwa Secs Grp invested in 52,350 shares. Signaturefd Ltd reported 851 shares. Robeco Institutional Asset Bv owns 60,120 shares for 0.02% of their portfolio. Prudential Financial Inc invested in 0% or 18,408 shares. Personal Cap Advsrs Corporation has 0.16% invested in Owens Corning (NYSE:OC). Bnp Paribas Arbitrage Sa invested in 350,845 shares. Petrus Trust Lta reported 4,638 shares. Hbk Investments Limited Partnership reported 0.06% in Owens Corning (NYSE:OC). Schwab Charles Mgmt invested in 0.05% or 1.06M shares. Asset Mngmt One Ltd invested in 0.03% or 189,895 shares. Taylor Asset holds 6,300 shares or 0.18% of its portfolio. Ingalls And Snyder Lc holds 0.01% or 4,425 shares. Brandywine Invest Mngmt Ltd Liability reported 0.04% of its portfolio in Owens Corning (NYSE:OC). Manufacturers Life Insur Co The holds 0% or 5,931 shares in its portfolio. Etrade Mgmt Limited Co owns 8,156 shares.

Since August 23, 2018, it had 0 insider buys, and 1 insider sale for $88,524 activity.

Why Has Goldman Given Owens Corning (NYSE:OC) a $75 Price Target

Goldman began its coverage for Owens Corning (NYSE:OC), this morning 2 October. The research firm found the stock of OC quite attractive and now has a price target of $75 with a key Buy rating.

Owens Corning (NYSE:OC) Ratings Coverage

Among 12 analysts covering Owens-Corning (NYSE:OC), 5 have Buy rating, 0 Sell and 7 Hold. Therefore 42% are positive. Owens-Corning has $105 highest and $72 lowest target. $86.20’s average target is 58.93% above currents $54.2363 stock price. Owens-Corning had 14 analyst reports since April 4, 2018 according to SRatingsIntel. The rating was downgraded by KeyBanc Capital Markets to “Sector Weight” on Friday, August 10. The firm has “Overweight” rating by KeyBanc Capital Markets given on Thursday, April 26. The stock of Owens Corning (NYSE:OC) earned “Neutral” rating by Goldman Sachs on Wednesday, April 4. Citigroup initiated Owens Corning (NYSE:OC) rating on Tuesday, June 19. Citigroup has “Hold” rating and $7300 target. Nomura maintained the stock with “Buy” rating in Tuesday, May 1 report. The firm has “Buy” rating given on Thursday, April 26 by Stifel Nicolaus. The firm has “Hold” rating given on Friday, June 1 by Argus Research. The firm earned “Equal-Weight” rating on Thursday, April 26 by Barclays Capital. The rating was upgraded by Zelman to “Buy” on Tuesday, June 19. On Thursday, July 26 the stock rating was maintained by Credit Suisse with “Outperform”.

The stock increased 1.17% or $0.6263 during the last trading session, reaching $54.2363. About 351,730 shares traded. Owens Corning (NYSE:OC) has declined 19.20% since October 2, 2017 and is downtrending. It has underperformed by 34.82% the S&P500.

Analysts await Owens Corning (NYSE:OC) to report earnings on October, 24. They expect $1.71 EPS, up 36.80 % or $0.46 from last year’s $1.25 per share. OC’s profit will be $189.68 million for 7.93 P/E if the $1.71 EPS becomes a reality. After $1.17 actual EPS reported by Owens Corning for the previous quarter, Wall Street now forecasts 46.15 % EPS growth.

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential and commercial building materials worldwide. The company has market cap of $6.02 billion. It operates in three divisions: Composites, Insulation, and Roofing. It has a 20.06 P/E ratio. The Composites segment makes, fabricates, and sells glass reinforcements in the form of fiber; and makes and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

Another recent and important Owens Corning (NYSE:OC) news was published by Streetinsider.com which published an article titled: “Goldman Sachs Starts Owens Corning (OC) at Buy” on October 02, 2018.

Owens Corning (NYSE:OC) Institutional Positions Chart

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