Analyst Rating Update on Owens Corning Inc (OC)

Owens Corning Inc (NYSE:OC) : 12 analysts are covering Owens Corning Inc (NYSE:OC) and their average rating on the stock is 2.42, which is read as a Buy. 4 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Owens Corning Inc (NYSE:OC) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 2, which recommends a Buy affirms that they expect a large upside in the stock from the current levels. However, 1 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. A total of 6 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Owens Corning Inc (NYSE:OC) : The highest level Owens Corning Inc (NYSE:OC) is projected to reach is $61 for the short term and the lowest estimate is at $42. The consolidated price target from 10 rating analysts who initiate coverage on the stock is $52.8 and the possibility the share price can swing is $4.87.

Company shares have received an average consensus rating of Hold for the current week Also, FBR Capital downgrades their rating on the shares of Owens Corning Inc (NYSE:OC). The current rating of the shares is Market Perform. Earlier, the shares were rated a Outperform by the brokerage firm. The rating by the firm was issued on April 28, 2016.

Owens Corning Inc (NYSE:OC): stock turned positive on Tuesday. Though the stock opened at $49.25, the bulls momentum made the stock top out at $49.73 level for the day. The stock recorded a low of $48.81 and closed the trading day at $49.2, in the green by 1.19%. The total traded volume for the day was 1,065,442. The stock had closed at $48.62 in the previous days trading.

In an insider trading activity,The officer (Vice President, Controller) of Owens Corning, Schmidt Kelly sold 2,000 shares at $50 on April 11, 2016. The Insider selling transaction had a total value worth of $100,000. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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.

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