Market Overview

UPDATE: Stifel Reiterates on Owens Corning on Concerns Over Weak Roofing Volumes

Related OC
Benzinga's Top Initiations
Going Home With Homebuilders ETFs

In a report published Thursday, Stifel analyst John Baugh reiterated a Buy rating on Owens Corning (NYSE: OC), but lowered the price target from $50.00 to $45.00.

In the report, Stifel noted, “Q3 results were viewed by the consensus as very disappointing. We would describe the results as only mildly disappointing. The primary consensus concern related to roofing volumes which appear to have lagged competitors' volumes, although the company believes that its nine month volumes are very close to industry results. We think roofing margins were quite good despite poor sales and arguably more important. We believe part of the recent challenge to the stock has been peer expectations that are just too rosy in light of a pathetic domestic recovery and weak overall international markets. If nothing else, these results should rein in peer estimates.”

Owens Corning closed on Wednesday at $38.34.

Latest Ratings for OC

Oct 2015Goldman SachsInitiates Coverage onSell
Jul 2015Stifel NicolausUpgradesHoldBuy
Jul 2015BarclaysMaintainsOverweight

View More Analyst Ratings for OC
View the Latest Analyst Ratings

Posted-In: John Baugh StifelAnalyst Color Price Target Analyst Ratings


Related Articles (OC)

Get Benzinga's Newsletters