USG Corp. (USG) Rating Increased to Buy at Vertical Group
Vertical Group upgraded shares of USG Corp. (NYSE:USG) from a hold rating to a buy rating in a research report released on Monday morning. The brokerage currently has $33.00 price objective on the stock.
USG has been the topic of a number of other reports. Citigroup Inc. initiated coverage on USG Corp. in a report on Friday, August 26th. They issued a neutral rating and a $32.00 price objective on the stock. RBC Capital Markets raised USG Corp. from a sector perform rating to an outperform rating and set a $34.00 price objective on the stock in a report on Tuesday, September 13th. Jefferies Group reissued a hold rating and issued a $33.00 price objective on shares of USG Corp. in a report on Tuesday, August 30th. Zacks Investment Research lowered USG Corp. from a strong-buy rating to a hold rating in a report on Thursday, June 23rd. Finally, Wedbush raised their target price on USG Corp. from $27.00 to $30.00 and gave the stock a neutral rating in a report on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $31.93.
Shares of USG Corp. (NYSE:USG) opened at 26.22 on Monday. The stock’s 50 day moving average price is $27.38 and its 200 day moving average price is $26.99. USG Corp. has a one year low of $15.85 and a one year high of $30.84. The stock has a market capitalization of $3.83 billion, a PE ratio of 3.76 and a beta of 1.96.
USG Corp. (NYSE:USG) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by $0.02. The firm earned $1,000 million during the quarter, compared to analyst estimates of $1.01 billion. USG Corp. had a net margin of 26.60% and a return on equity of 21.37%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share. Equities research analysts predict that USG Corp. will post $1.74 EPS for the current fiscal year.
In other news, insider Jennifer F. Scanlon sold 9,260 shares of USG Corp. stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $27.13, for a total value of $251,223.80. Following the completion of the sale, the insider now directly owns 34,432 shares of the company’s stock, valued at $934,140.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Kenneth R. Banas sold 11,557 shares of USG Corp. stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $28.04, for a total value of $324,058.28. Following the completion of the sale, the vice president now directly owns 15,356 shares of the company’s stock, valued at $430,582.24. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of USG. Adage Capital Partners GP L.L.C. boosted its stake in shares of USG Corp. by 72.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 4,210,300 shares of the company’s stock worth $104,458,000 after buying an additional 1,770,297 shares during the last quarter. Smith Asset Management Group LP purchased a new stake in shares of USG Corp. during the second quarter worth $21,292,000. Norges Bank purchased a new stake in shares of USG Corp. during the fourth quarter worth $13,432,000. BlueMountain Capital Management LLC boosted its stake in shares of USG Corp. by 2,869.7% in the first quarter. BlueMountain Capital Management LLC now owns 323,547 shares of the company’s stock worth $8,027,000 after buying an additional 312,652 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of USG Corp. by 7.1% in the second quarter. TIAA CREF Investment Management LLC now owns 4,376,368 shares of the company’s stock worth $117,987,000 after buying an additional 288,217 shares during the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.
About USG Corp.
USG Corporation is a manufacturer and distributor of building materials. The Company 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. The Company’s segments include Gypsum, Ceilings, Distribution, and USG Boral Building Products.
Receive News & Ratings for USG Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for USG Corp. and related companies with MarketBeat.com's FREE daily email newsletter.