Owens Corning Inc (OC) : Zacks Investment Research ranks Owens Corning Inc (OC) as 2, which is a Buy recommendation. 4 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 other analysts are mildly bullish on the stock and favor a Buy. 1 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 6 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 12 research analysts is 2.42, which indicates as a Buy.
Owens Corning Inc (OC) : The consensus price target for Owens Corning Inc (OC) is $52.8 for the short term with a standard deviation of $4.87. The most optimist securities analyst among the 10 who monitor the stock believes that the stock can reach $61, however, the pessimist price target for the company is $42.
Owens Corning Inc (NYSE:OC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $52.91 and $52.60 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $53.97. The buying momentum continued till the end and the stock did not give up its gains. It closed at $53.85, notching a gain of 2.38% for the day. The total traded volume was 1,221,757 . The stock had closed at $52.60 on the previous day.
Also, FBR Capital downgrades its rating on Owens Corning Inc (NYSE:OC). Analysts at the FBR Capital have a current rating of Market Perform on the shares. The shares were previously rated Outperform. The rating by the firm was issued on April 28, 2016. The company shares have rallied 28.36% from its 1 Year high price. On Jul 1, 2016, the shares registered one year high at $53.21 and the one year low was seen on Sep 30, 2015. The 50-Day Moving Average price is $50.58 and the 200 Day Moving Average price is recorded at $47.24.
Owens Corning is a holding company. The Company is engaged in composite and building materials systems. The Companys 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 Companys 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 Companys subsidiaries are Owens Corning Sales, LLC and Owens Corning Receivables LLC.