NEW YORK (TheStreet) -- Shares of Owens Corning (OC - Get Report) were rising in mid-morning trading on Wednesday after the company reported higher-than-expected results for the 2016 third quarter.

Before the market open, the Toledo, OH-based construction supplies company reported adjusted earnings of $1.09 per diluted share, surpassing analysts' forecasts of 99 cents per share.

Revenue for the period was $1.52 billion, while analysts had projected $1.51 billion.

"Our roofing business delivered another outstanding quarter with favorable market conditions, great margin performance and revenue growth associated with our first-half acquisition," CEO Mike Thaman said in a statement.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.

The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and attractive valuation levels.

The team believes its strengths outweigh the fact that the company shows low profit margins.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: OC