Royal Bank of Canada Lowers Owens Corning (NYSE:OC) Price Target to $212.00

Owens Corning (NYSE:OC) had its price target dropped by equities research analysts at Royal Bank of Canada from $224.00 to $212.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Royal Bank of Canada’s target price points to a potential upside of 32.85% from the company’s previous close.

Several other research firms have also recently commented on OC. Evercore ISI increased their target price on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. UBS Group reduced their price objective on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday. Wells Fargo & Company cut their target price on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday. Citigroup reduced their price target on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Loop Capital cut their price objective on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $210.00.

Owens Corning Stock Down 2.0 %

Shares of OC stock traded down $3.31 on Tuesday, hitting $159.58. The stock had a trading volume of 511,967 shares, compared to its average volume of 727,731. Owens Corning has a 52-week low of $145.50 and a 52-week high of $214.53. The firm has a market capitalization of $13.69 billion, a price-to-earnings ratio of 13.58, a P/E/G ratio of 1.88 and a beta of 1.46. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The stock’s 50 day moving average is $176.97 and its 200-day moving average is $179.00.

Owens Corning (NYSE:OC) last announced its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.21 earnings per share. As a group, research analysts expect that Owens Corning will post 15.49 earnings per share for the current year.

Insider Activity at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the transaction, the insider now directly owns 11,635 shares of the company’s stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the transaction, the insider now owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Institutional Trading of Owens Corning

Several hedge funds have recently added to or reduced their stakes in OC. FPC Investment Advisory Inc. acquired a new position in shares of Owens Corning during the fourth quarter valued at $28,000. Venturi Wealth Management LLC grew its position in Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after buying an additional 63 shares in the last quarter. Global Trust Asset Management LLC bought a new position in Owens Corning in the 4th quarter valued at about $31,000. Wilmington Savings Fund Society FSB raised its position in shares of Owens Corning by 193.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after buying an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in shares of Owens Corning during the 4th quarter worth about $34,000. Institutional investors own 88.40% of the company’s stock.

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.