Owens Corning (NYSE:OC) Earns “Outperform” Rating from Royal Bank of Canada

Owens Corning (NYSE:OC)‘s stock had its “outperform” rating reiterated by equities researchers at Royal Bank of Canada in a research report issued on Monday,Benzinga reports. They presently have a $212.00 target price on the construction company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 46.32% from the stock’s previous close.

A number of other research firms have also commented on OC. Loop Capital dropped their price target on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Citigroup dropped 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. JPMorgan Chase & Co. dropped their price target on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. UBS Group dropped their price target on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Finally, Benchmark reissued a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Owens Corning has a consensus rating of “Moderate Buy” and a consensus price target of $204.18.

Owens Corning Price Performance

Shares of OC opened at $144.89 on Monday. The firm has a market cap of $12.39 billion, a PE ratio of 12.33, a PEG ratio of 1.88 and a beta of 1.52. The firm’s 50 day moving average price is $168.97 and its 200 day moving average price is $177.11. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a twelve month low of $137.50 and a twelve month high of $214.53.

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

Insider Buying and Selling

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.89% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Owens Corning

A number of institutional investors have recently bought and sold shares of OC. CIBC Asset Management Inc boosted its stake in Owens Corning by 4.8% during the third quarter. CIBC Asset Management Inc now owns 3,513 shares of the construction company’s stock worth $620,000 after buying an additional 162 shares in the last quarter. Natixis Advisors LLC boosted its stake in shares of Owens Corning by 1.9% in the 3rd quarter. Natixis Advisors LLC now owns 17,903 shares of the construction company’s stock valued at $3,160,000 after purchasing an additional 339 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Owens Corning by 15.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 231,352 shares of the construction company’s stock valued at $40,838,000 after purchasing an additional 30,192 shares in the last quarter. Quest Partners LLC boosted its stake in shares of Owens Corning by 67.7% in the 3rd quarter. Quest Partners LLC now owns 8,940 shares of the construction company’s stock valued at $1,578,000 after purchasing an additional 3,608 shares in the last quarter. Finally, Lindenwold Advisors INC boosted its stake in shares of Owens Corning by 3.2% in the 3rd quarter. Lindenwold Advisors INC now owns 3,168 shares of the construction company’s stock valued at $559,000 after purchasing an additional 97 shares in the last quarter. Institutional investors and hedge funds 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.