Owens Corning (NYSE:OC) Price Target Raised to $192.00

Owens Corning (NYSE:OC) had its target price hoisted by Royal Bank of Canada from $175.00 to $192.00 in a report published on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the construction company’s stock.

Several other analysts have also weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Owens Corning from $164.00 to $163.00 and set a neutral rating for the company in a research note on Tuesday, February 20th. Argus boosted their target price on shares of Owens Corning from $175.00 to $182.00 and gave the company a buy rating in a research note on Thursday. Citigroup upped their price target on shares of Owens Corning from $150.00 to $169.00 and gave the stock a neutral rating in a research report on Friday, April 5th. Loop Capital upped their price target on shares of Owens Corning from $167.00 to $188.00 and gave the stock a buy rating in a research report on Monday, April 1st. Finally, Evercore ISI upped their price target on shares of Owens Corning from $154.00 to $172.00 and gave the stock an in-line rating in a research 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 data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $168.21.

Owens Corning Stock Up 2.1 %

OC stock opened at $168.50 on Thursday. 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. The firm has a fifty day moving average price of $159.88 and a two-hundred day moving average price of $146.41. The firm has a market cap of $14.60 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 7.12 and a beta of 1.47.

Owens Corning (NYSE:OC) last released its 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. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the firm earned $2.77 earnings per share. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. Research analysts predict that Owens Corning will post 14.74 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Monday, March 4th were given a $0.60 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.42%. Owens Corning’s dividend payout ratio is presently 19.43%.

Insider Activity at Owens Corning

In related news, insider Gunner Smith sold 7,442 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $148.99, for a total value of $1,108,783.58. Following the completion of the transaction, the insider now owns 36,140 shares in the company, valued at approximately $5,384,498.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Owens Corning news, insider Gunner Smith sold 7,442 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $148.99, for a total value of $1,108,783.58. Following the completion of the sale, the insider now directly owns 36,140 shares of the company’s stock, valued at approximately $5,384,498.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paula Russell sold 3,765 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $162.00, for a total transaction of $609,930.00. Following the completion of the sale, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at $3,307,878. The disclosure for this sale can be found here. Insiders sold 21,672 shares of company stock worth $3,325,799 in the last 90 days. Corporate insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Owens Corning

A number of institutional investors and hedge funds have recently bought and sold shares of the business. AE Wealth Management LLC purchased a new stake in Owens Corning during the third quarter valued at about $1,749,000. IFP Advisors Inc lifted its stake in Owens Corning by 59.8% during the third quarter. IFP Advisors Inc now owns 390 shares of the construction company’s stock valued at $53,000 after buying an additional 146 shares in the last quarter. Global Retirement Partners LLC lifted its stake in Owens Corning by 17.2% during the third quarter. Global Retirement Partners LLC now owns 1,054 shares of the construction company’s stock valued at $140,000 after buying an additional 155 shares in the last quarter. DAVENPORT & Co LLC lifted its stake in Owens Corning by 12.4% during the third quarter. DAVENPORT & Co LLC now owns 3,688 shares of the construction company’s stock valued at $503,000 after buying an additional 406 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in Owens Corning by 26.4% during the third quarter. UMB Bank n.a. now owns 469 shares of the construction company’s stock valued at $64,000 after buying an additional 98 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

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.