Royal Bank of Canada Reiterates Hold Rating for Owens Corning (OC)

Owens Corning (NYSE:OC)‘s stock had its “hold” rating reaffirmed by investment analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday. They presently have a $80.00 price objective on the construction company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 26.24% from the company’s previous close.

OC has been the subject of a number of other research reports. Argus cut Owens Corning from a “buy” rating to a “hold” rating and lifted their price objective for the company from $96.52 to $109.00 in a research report on Friday, June 1st. Wells Fargo & Co set a $85.00 price objective on Owens Corning and gave the company an “outperform” rating in a research report on Thursday, April 26th. Zacks Investment Research cut Owens Corning from a “buy” rating to a “hold” rating in a research report on Wednesday, March 21st. Citigroup lifted their price objective on Owens Corning from $72.00 to $73.00 and gave the company a “neutral” rating in a research report on Wednesday, June 20th. Finally, KeyCorp reduced their price objective on Owens Corning from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Thursday, April 26th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $87.37.

OC opened at $63.37 on Thursday. The firm has a market cap of $6.97 billion, a P/E ratio of 14.40, a PEG ratio of 0.65 and a beta of 1.08. Owens Corning has a 1 year low of $61.00 and a 1 year high of $96.52. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 0.91.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, April 25th. The construction company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.16). The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.62 billion. Owens Corning had a net margin of 4.24% and a return on equity of 11.95%. Owens Corning’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.85 EPS. analysts predict that Owens Corning will post 5.54 earnings per share for the current year.

Large investors have recently made changes to their positions in the business. Balter Liquid Alternatives LLC acquired a new stake in shares of Owens Corning in the first quarter worth about $162,000. Focused Wealth Management Inc acquired a new stake in shares of Owens Corning in the fourth quarter worth about $175,000. Avestar Capital LLC acquired a new stake in shares of Owens Corning in the fourth quarter worth about $176,000. American International Group Inc. acquired a new stake in shares of Owens Corning in the fourth quarter worth about $213,000. Finally, Element Capital Management LLC acquired a new stake in shares of Owens Corning in the first quarter worth about $237,000. 92.16% of the stock is owned by institutional investors.

Owens Corning Company Profile

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential and commercial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

Analyst Recommendations for Owens Corning (NYSE:OC)

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