Owens Corning (NYSE:OC) Price Target Raised to $217.00 at Royal Bank of Canada

Owens Corning (NYSE:OC) had its price objective raised by equities research analysts at Royal Bank of Canada from $213.00 to $217.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the construction company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 15.72% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. StockNews.com cut shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Barclays reduced their price objective on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. UBS Group upped their price target on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday. Wells Fargo & Company boosted their price target on shares of Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Evercore ISI lifted their target price on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $192.62.

Owens Corning Stock Up 1.6 %

NYSE:OC traded up $2.88 during trading hours on Thursday, hitting $187.52. The stock had a trading volume of 269,040 shares, compared to its average volume of 679,954. The business has a 50 day simple moving average of $174.98 and a two-hundred day simple moving average of $173.36. Owens Corning has a 1-year low of $120.17 and a 1-year high of $191.44. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91. The company has a market cap of $16.30 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 2.20 and a beta of 1.41.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating analysts’ consensus estimates of $4.01 by $0.37. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The business had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the previous year, the business earned $4.15 EPS. The business’s quarterly revenue was up 22.9% on a year-over-year basis. Analysts predict that Owens Corning will post 15.34 EPS for the current year.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the transaction, the insider now owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the transaction, the insider now owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the transaction, the insider now owns 60,130 shares of the company’s stock, valued at $10,222,100. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OC. ST Germain D J Co. Inc. lifted its holdings in Owens Corning by 794.1% in the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after buying an additional 135 shares during the period. ORG Partners LLC bought a new position in shares of Owens Corning in the 1st quarter worth approximately $31,000. Innealta Capital LLC purchased a new position in shares of Owens Corning in the 2nd quarter valued at approximately $32,000. Tobam boosted its position in shares of Owens Corning by 115.7% during the second quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after purchasing an additional 103 shares in the last quarter. Finally, Quarry LP grew its stake in Owens Corning by 165.5% in the second quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after purchasing an additional 144 shares during the period. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

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.