Owens Corning (NYSE:OC) PT Raised to $192.00 at Royal Bank of Canada

Owens Corning (NYSE:OC) had its target price hoisted by research analysts at Royal Bank of Canada from $175.00 to $192.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the construction company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 13.91% from the company’s current price.

A number of other equities analysts have also recently commented on the company. Evercore ISI lifted their target price on Owens Corning from $154.00 to $172.00 and gave the stock an “in-line” rating in a report on Thursday. JPMorgan Chase & Co. dropped their target price on Owens Corning from $164.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 20th. Loop Capital lifted their target price on Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a report on Monday, April 1st. UBS Group lifted their target price on Owens Corning from $169.00 to $192.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Argus lifted their target price on Owens Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $168.21.

Owens Corning Stock Performance

NYSE OC opened at $168.55 on Thursday. The stock has a market capitalization of $14.66 billion, a PE ratio of 13.65, a P/E/G ratio of 6.98 and a beta of 1.47. The business has a 50 day simple moving average of $159.88 and a two-hundred day simple moving average of $146.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 1.17. Owens Corning has a 1-year low of $99.49 and a 1-year high of $173.65.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.55. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.77 EPS. On average, research analysts predict that Owens Corning will post 13.92 EPS for the current fiscal year.

Insider Transactions at Owens Corning

In other news, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the transaction, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the transaction, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Gunner Smith sold 708 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $153.73, for a total value of $108,840.84. Following the transaction, the insider now owns 39,994 shares in the company, valued at $6,148,277.62. The disclosure for this sale can be found here. In the last three months, insiders sold 21,672 shares of company stock valued at $3,325,799. Corporate insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in OC. MV Capital Management Inc. grew its stake in Owens Corning by 112.9% during the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after buying an additional 79 shares during the last quarter. NBC Securities Inc. purchased a new position in Owens Corning during the 1st quarter worth $26,000. Contravisory Investment Management Inc. purchased a new position in Owens Corning during the 4th quarter worth $27,000. Bruce G. Allen Investments LLC purchased a new position in Owens Corning during the 4th quarter worth $27,000. Finally, Riverview Trust Co purchased a new position in Owens Corning during the 1st quarter worth $28,000. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

About Owens Corning

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.