Royal Bank of Canada Boosts Owens Corning (NYSE:OC) Price Target to $201.00

Owens Corning (NYSE:OC) had its price objective upped by Royal Bank of Canada from $192.00 to $201.00 in a research note released on Tuesday, MarketBeat reports. The firm currently has an outperform rating on the construction company’s stock.

A number of other research analysts have also recently commented on OC. JPMorgan Chase & Co. decreased their price target on Owens Corning from $164.00 to $163.00 and set a neutral rating on the stock in a research report on Tuesday, February 20th. Barclays cut shares of Owens Corning from an overweight rating to an equal weight rating and dropped their target price for the company from $170.00 to $160.00 in a research report on Monday, February 12th. UBS Group increased their price target on shares of Owens Corning from $169.00 to $192.00 and gave the stock a buy rating in a research report on Thursday, April 25th. Loop Capital boosted their price objective on shares of Owens Corning from $167.00 to $188.00 and gave the company a buy rating in a research report on Monday, April 1st. Finally, Citigroup upped their target price on Owens Corning from $150.00 to $169.00 and gave the stock a neutral rating in a research note on Friday, April 5th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Owens Corning currently has a consensus rating of Moderate Buy and a consensus price target of $172.07.

Owens Corning Stock Performance

Shares of OC stock opened at $176.60 on Tuesday. Owens Corning has a 52 week low of $105.56 and a 52 week high of $181.49. The company has a market capitalization of $15.30 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 5.22 and a beta of 1.45. The company has a 50-day simple moving average of $169.16 and a 200 day simple moving average of $153.34. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.55. The company 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 business’s revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.77 earnings per share. On average, sell-side analysts predict that Owens Corning will post 15.76 earnings per share for the current year.

Insider Buying and Selling at Owens Corning

In other news, insider Monaco Nicolas Del sold 3,423 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $176.47, for a total value of $604,056.81. Following the completion of the transaction, the insider now owns 11,381 shares of the company’s stock, valued at $2,008,405.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Monaco Nicolas Del sold 3,423 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $176.47, for a total value of $604,056.81. Following the sale, the insider now owns 11,381 shares of the company’s stock, valued at $2,008,405.07. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Paula Russell sold 3,765 shares of the firm’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 transaction, 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. Corporate insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Owens Corning

A number of hedge funds have recently bought and sold shares of the company. MV Capital Management Inc. boosted its stake in Owens Corning by 112.9% during the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after acquiring an additional 79 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Owens Corning during the 1st quarter worth about $26,000. Contravisory Investment Management Inc. bought a new position in shares of Owens Corning in the 4th quarter worth $27,000. Bruce G. Allen Investments LLC acquired a new stake in Owens Corning in the 4th quarter valued at $27,000. Finally, Riverview Trust Co acquired a new position in Owens Corning during the first quarter worth $28,000. Institutional investors own 88.40% of the company’s stock.

Owens Corning Company Profile

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.