Seeking Alpha

Owens Corning (OC)

  • Fri, Mar. 20, 3:23 PM
    • Owens Corning (OC +6.8%) is upgraded to Overweight from Equal Weight with a $48 price target, raised from $41, at Barclays, which says it has become increasingly convinced that the setup for the asphalt shingle market heading into the spring is the strongest in years and provides added confidence that OC's 2015 earnings can meaningfully exceed consensus estimates.
    • Barclays believes shingle pricing will remain stable in 2015, which marks a significant inflection point after years of competitive gyrations and failed pricing attempts.
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  • Thu, Feb. 12, 8:20 AM
    • Despite posting a 5.8% rise in adjusted earnings yesterday, Owens Corning (NYSE:OC) has been hit with several downgrades.
    • FBR Capital has downgraded its rating on the stock to Market Perform from Outperform citing near-term headwinds in the company's roofing segment following its Q4 results. The firm also lowered its price target for shares to $39 from $40.
    • Owens was also downgraded this morning at MKM Partners to Sell.
    • OC -1.5% premarket
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  • Jul. 24, 2014, 10:38 AM
    • Owens Corning (OC -2.3%) is downgraded to Hold from Buy at Stifel, citing its weaker than expected roofing business and Q2 EPS miss. Its PT of $50 was also removed.
    • Stifel says that OC has lost its market share in roofing and price discipline, and is resigned to materially lower margins.
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  • Jun. 20, 2014, 9:14 AM
  • Feb. 12, 2014, 9:10 AM
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  • Jun. 28, 2013, 1:01 PM
    Owens Corning (OC -3.8%) slips todya after Citigroup cut the shares to Neutral and lowered its price target on the stock to $43 from $48 a share. The stock has been in a gradual decline since mid-May, after briefly testing a new high but failing to follow through.
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  • Jun. 3, 2013, 2:51 PM
    Owens Corning (OC -1.2%) says it's completed the acquisition of Thermafiber, a manufacturer of mineral wool commercial and industrial insulation products. Financial terms of the deal were not disclosed.
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  • Oct. 24, 2012, 7:59 AM
    Owens Corning (OC): Q3 EPS of $0.37 beats by $0.01. Revenue of $1.28B (-11.7% Y/Y) misses by $30M. Shares -1.5% premarket. (PR)
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  • Oct. 9, 2012, 9:10 AM
    Premarket gainers: RSH +11%. EMXX +10%. QCOR +7%. NAVB +6%.
    Losers: EW -17%. ATHX -14%. OC -7%. NFLX -7%. ALU -5%.
  • Sep. 13, 2012, 9:16 AM
    Building material names (possibly far ahead of true housing recovery) are set to take a hit as heavy-hitter Ivy Zelman reportedly downgrades USG Corp. to Sell, Stanley Black & Decker (SWK) to sell, and Owens Corning (OC) to hold. USG -4.3% premarket, OC -2% premarket. (h/t Marc Lehman)
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  • Aug. 1, 2012, 4:04 PM
    Shares of Owens Corning (OC +2.4%) had a volatile day after missing Q2 estimates earlier this morning. Net profit plunged 50% as revenue fell due to sales declines in its building materials and composites segments. CEO Mike Thaman notes that economic conditions still very uncertain, and the housing market remains weak, but he sees signs of housing recovery in the second half.
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  • Aug. 1, 2012, 9:03 AM
    Owens Corning (OC): Q2 EPS of $0.54 misses by $0.10. Revenue of $1.39B (-4.2% Y/Y) misses by $110M. Shares -3.4% premarket. (PR)
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  • Mar. 30, 2012, 12:07 PM
    Goldman ups the Building Products group to Neutral citing improving sales trends and easing commodity prices. The firm's top pick in the space is Buy rated Owens Corning (OC +1%) given its pricing power, and its least favorites remain Sell rated Whirlpool (WHR +0.5%) and USG (USG -1.8%) given weak fundamentals.
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  • Feb. 16, 2012, 2:21 PM
    Barclays says Owens Corning's (OC +1.9%) weak Q4 results yesterday creates a buying opportunity in the name, given the signs of growth in its key product lines and the building products supplier's exposure to a U.S. housing recovery.
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  • Feb. 15, 2012, 3:51 PM
    Owens Corning (OC -6.6%) takes a hit after swinging and missing on its Q4 report this morning. Earnings were relatively flat Y/Y due to a slump in composite sales, and despite signs of growth in its building materials and a recovery in the housing market.
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  • Feb. 15, 2012, 9:05 AM
    Premarket gainers: BPAX +51%. IPAS +21%. BCRX +14%. WCG +11%. TSEM +9%. CMCSK +8%. EGLE +7%. CLWR +7%. CMCSA +6%. ANF +6%. HIG +6%. VTG +5%. TTM +4%. K +3%. BCS +3%. DANG +3%. YGE +3%. DMND +3%. MET +3%. ACAS +3%. GNOM +3%. BZH +3%. COF +3%. TEVA +3%. MLU +3%.
    Losers: VG -12%. NBG -9%. RENN -8%. NZGA -6%. OC -5%. FXCM -3%. ALU -3%.
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Company Description
Owens-Corning Inc is a producer of glass fiber technology. Its products glass fiber used to reinforce composite materials for transportation, marine, infrastructure, electronics, and wind-energy among others.