USG Corporation (USG) Price Target Raised to $31.00

USG Corporation (NYSE:USG) had its price target upped by Barclays PLC from $26.00 to $31.00 in a report released on Friday, Marketbeat.com reports. The brokerage currently has an equal weight rating on the construction company’s stock.

A number of other brokerages also recently issued reports on USG. Stifel Nicolaus reiterated a hold rating and set a $33.00 price target on shares of USG Corporation in a research report on Thursday. Bank of America Corporation cut USG Corporation from a neutral rating to an underperform rating in a report on Friday. Citigroup Inc. raised their price objective on USG Corporation from $34.00 to $37.00 and gave the company a neutral rating in a report on Friday. Zacks Investment Research raised USG Corporation from a sell rating to a hold rating in a report on Wednesday, October 18th. Finally, Robert W. Baird raised their price objective on USG Corporation from $30.00 to $33.00 and gave the company a neutral rating in a report on Thursday, October 12th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. USG Corporation currently has a consensus rating of Hold and a consensus price target of $31.64.

USG Corporation (NYSE USG) opened at 34.11 on Friday. USG Corporation has a 1-year low of $23.71 and a 1-year high of $34.80. The firm has a market cap of $4.89 billion, a P/E ratio of 10.94 and a beta of 1.00. The stock has a 50 day moving average price of $32.22 and a 200 day moving average price of $29.77.

USG Corporation (NYSE:USG) last issued its quarterly earnings results on Thursday, October 26th. The construction company reported $0.47 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.47. The firm had revenue of $795.00 million during the quarter, compared to the consensus estimate of $790.54 million. USG Corporation had a return on equity of 12.97% and a net margin of 14.93%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the company posted $0.46 EPS. On average, analysts anticipate that USG Corporation will post $1.65 EPS for the current year.

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In other USG Corporation news, insider Dominic A. Dannessa sold 5,000 shares of USG Corporation stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $32.41, for a total value of $162,050.00. Following the transaction, the insider now directly owns 61,713 shares of the company’s stock, valued at approximately $2,000,118.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.67% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the business. Jane Street Group LLC purchased a new position in USG Corporation in the 1st quarter worth approximately $362,000. Thompson Investment Management Inc. increased its stake in USG Corporation by 10.1% in the 2nd quarter. Thompson Investment Management Inc. now owns 12,250 shares of the construction company’s stock worth $355,000 after purchasing an additional 1,125 shares during the period. Amalgamated Bank increased its stake in USG Corporation by 3.4% in the 1st quarter. Amalgamated Bank now owns 12,516 shares of the construction company’s stock worth $398,000 after purchasing an additional 406 shares during the period. Somerset Trust Co increased its stake in USG Corporation by 0.7% in the 2nd quarter. Somerset Trust Co now owns 16,900 shares of the construction company’s stock worth $491,000 after purchasing an additional 116 shares during the period. Finally, Wedge Capital Management L L P NC increased its stake in USG Corporation by 3.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 18,769 shares of the construction company’s stock worth $545,000 after purchasing an additional 631 shares during the period. 85.73% of the stock is currently owned by institutional investors and hedge funds.

About USG Corporation

USG Corporation, through its subsidiaries, is a manufacturer and distributor of building materials. The Company’s segments include Gypsum, Ceilings and USG Boral Building Products (UBBP). It produces a range of products for use in new residential, new nonresidential, and residential and nonresidential repair and remodel construction, as well as products used in certain industrial processes.

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