Goldman Sachs cuts Owens Corning price target to $128, retains Neutral rating

Goldman Sachs trims target on Owens Corning

Goldman Sachs lowered its price target on Owens Corning (NYSE: OC) from $169.00 to $128.00 in a research note issued Monday morning, while reiterating a Neutral rating on the construction company’s stock. The revised target was reported across two independent industry and markets outlets covering the same analyst action.

Other analyst moves frame a divided Street

The Goldman cut sits alongside a cluster of recent rating actions on Owens Corning. Deutsche Bank Aktiengesellschaft raised its target on Owens Corning from $136.00 to $165.00 with a Buy rating in a report dated Tuesday, June 30th. Wall Street Zen downgraded the shares from Buy to Hold in a separate Saturday research note. Truist Financial trimmed its price target from $140.00 to $115.00 and kept a Hold rating in a Thursday report. Weiss Ratings restated a Sell (D+) rating on Monday, September 21st, and Benchmark restated a Hold rating on Wednesday, July 15th.

Consensus rating and trading data

According to MarketBeat data cited in the coverage, three analysts rate Owens Corning a Strong Buy, seven rate it Buy, five rate it Hold, and three rate it Sell, producing a consensus rating of "Moderate Buy" and a consensus price target of $143.36. Owens Corning shares opened at $112.56 on Monday, down 1.4% from the prior session, against a 52-week range of $97.53 to $159.91 and moving averages of $134.73 (50-day) and $129.16 (200-day). The stock carried a market capitalization of $8.90 billion, a debt-to-equity ratio of 1.10, a quick ratio of 0.67, a current ratio of 1.16, a negative net margin of 6.81% and a positive return on equity of 20.52%, based on figures reported in the same coverage.

Earnings backdrop and analyst expectations

Owens Corning last reported quarterly earnings on Wednesday, August 5th, posting EPS of $3.93 versus a $3.09 consensus estimate and revenue of $2.76 billion versus $2.66 billion expected, with revenue up 0.3% year-over-year. The sell-side analyst consensus compiled by the coverage projects 9.45 EPS for the current fiscal year.

What remains unclear

The coverage does not detail the specific rationale Goldman Sachs cited for the target reduction, and the note’s full commentary beyond the price target and Neutral reiteration is not reproduced in the available sources.