Jefferies Maintains Owens Corning to Buy with Price Target $63.00

Brokerage firm Jefferies Maintains its rating on Owens Corning(NYSE:OC). In a research note issued to the investors, the brokerage major Raises the price-target to $63.00 per share. The shares have been rated Buy. The rating by Jefferies was issued on Jul 28, 2016.

In a different note, On Jul 12, 2016, Goldman Sachs said it Upgrades its rating on Owens Corning. In the research note, the firm Raises the price-target to $51.00 per share. The shares have been rated ‘Neutral’ by the firm.

Owens Corning (OC) shares turned negative on Thursdays trading session with the shares closing down -0.78 points or -1.45% at a volume of 13,12,018. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $54.1. The peak price level was also seen at $54.1 while the days lowest was $53.03. Finally the shares closed at $53.19. The 52-week high of the shares is $58.69 while the 52-week low is $38.95. According to the latest information available, the market cap of the company is $6,104 M.

Owens Corning(OC) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.54B. Analysts had an estimated revenue of $1.46B. Earnings per share were $1.29. Analysts had estimated an EPS of $0.85.

Several Insider Transactions has been reported to the SEC. On Apr 13, 2016, Kelly Schmidt (Vice President, Controller) sold 2,000 shares at $50.00 per share price.Also, On Nov 25, 2015, W Howard Morris (director) sold 3,000 shares at $47.13 per share price.On Nov 19, 2015, F Philip Handy (director) sold 13,000 shares at $46.94 per share price, according to the Form-4 filing with the securities and exchange commission.

Owens Corning is a holding company. The Company is engaged in composite and building materials systems. The Company’s products range from glass fiber used to reinforce composite materials for transportation electronics marine infrastructure wind energy and other markets to insulation and roofing for residential commercial and industrial applications. The Company operates under three segments: Composites Insulation and Roofing. The Composites segment is comprised of the Company’s Reinforcements and Downstream businesses. Insulation segment includes products such as thermal and acoustical batts loosefill insulation foam sheathing and accessories. The Roofing segment includes products such as laminate and strip asphalt roofing shingles. The Company’s subsidiaries are Owens Corning Sales LLC and Owens Corning Receivables LLC.

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